The Boeing Company (NYSE:BA) Shares Sold by Financial Gravity Asset Management Inc.

Financial Gravity Asset Management Inc. trimmed its holdings in shares of The Boeing Company (NYSE:BAGet Rating) by 66.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,349 shares of the aircraft producer’s stock after selling 2,626 shares during the quarter. Financial Gravity Asset Management Inc.’s holdings in Boeing were worth $163,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of BA. Tevis Investment Management increased its position in shares of Boeing by 69.6% during the second quarter. Tevis Investment Management now owns 195 shares of the aircraft producer’s stock valued at $27,000 after acquiring an additional 80 shares during the last quarter. Karp Capital Management Corp acquired a new stake in shares of Boeing in the third quarter valued at $33,000. Beaird Harris Wealth Management LLC raised its holdings in shares of Boeing by 61.6% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 328 shares of the aircraft producer’s stock valued at $40,000 after buying an additional 125 shares during the period. Moisand Fitzgerald Tamayo LLC lifted its stake in Boeing by 46.4% during the 2nd quarter. Moisand Fitzgerald Tamayo LLC now owns 366 shares of the aircraft producer’s stock worth $50,000 after acquiring an additional 116 shares in the last quarter. Finally, Carolinas Wealth Consulting LLC boosted its holdings in Boeing by 39.9% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 393 shares of the aircraft producer’s stock valued at $75,000 after acquiring an additional 112 shares during the period. 57.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Bank of America increased their price target on shares of Boeing from $165.00 to $190.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 7th. Morgan Stanley cut shares of Boeing from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $213.00 to $220.00 in a research report on Tuesday, January 10th. Wolfe Research assumed coverage on Boeing in a research report on Monday, October 10th. They set an “outperform” rating and a $180.00 price objective on the stock. Jefferies Financial Group set a $240.00 target price on Boeing in a research note on Monday, January 9th. Finally, Susquehanna Bancshares increased their price target on Boeing from $185.00 to $217.00 and gave the company a “positive” rating in a research report on Wednesday, December 14th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $222.53.

Boeing Stock Performance

Boeing stock opened at $209.97 on Tuesday. The Boeing Company has a fifty-two week low of $113.02 and a fifty-two week high of $223.23. The company has a market capitalization of $124.68 billion, a P/E ratio of -14.73, a PEG ratio of 20.48 and a beta of 1.43. The stock has a 50-day simple moving average of $189.86 and a 200-day simple moving average of $164.79.

Boeing (NYSE:BAGet Rating) last posted its earnings results on Wednesday, October 26th. The aircraft producer reported ($6.18) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($6.17). The firm had revenue of $15.96 billion during the quarter, compared to analyst estimates of $18.03 billion. During the same period in the prior year, the firm earned ($0.60) earnings per share. The business’s revenue was up 4.4% on a year-over-year basis. As a group, analysts forecast that The Boeing Company will post -8.88 earnings per share for the current year.

Insiders Place Their Bets

In other Boeing news, CEO David L. Calhoun bought 25,000 shares of the company’s stock in a transaction on Friday, November 4th. The shares were bought at an average price of $158.88 per share, for a total transaction of $3,972,000.00. Following the transaction, the chief executive officer now owns 25,000 shares of the company’s stock, valued at approximately $3,972,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Steven M. Mollenkopf purchased 1,285 shares of the stock in a transaction that occurred on Friday, November 4th. The shares were acquired at an average price of $157.09 per share, for a total transaction of $201,860.65. Following the acquisition, the director now directly owns 2,917 shares in the company, valued at approximately $458,231.53. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David L. Calhoun purchased 25,000 shares of the stock in a transaction that occurred on Friday, November 4th. The stock was purchased at an average price of $158.88 per share, for a total transaction of $3,972,000.00. Following the acquisition, the chief executive officer now owns 25,000 shares in the company, valued at $3,972,000. The disclosure for this purchase can be found here. 0.11% of the stock is currently owned by insiders.

About Boeing

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The Boeing Co is an aerospace company, which engages in the manufacture of commercial jetliners and defense, space, and security systems. It operates through the following segments: Commercial Airplanes (BCA), Defense, Space and Security (BDS), Global Services (BGS), and Boeing Capital (BCC). The Commercial Airplanes segment includes the development, production, and market of commercial jet aircraft and provides fleet support services, principally to the commercial airline industry worldwide.

Further Reading

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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