The Boeing Company (NYSE:BA) Shares Sold by Grassi Investment Management

Grassi Investment Management reduced its position in The Boeing Company (NYSE:BA) by 0.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 51,645 shares of the aircraft producer’s stock after selling 200 shares during the quarter. Boeing makes up approximately 1.2% of Grassi Investment Management’s investment portfolio, making the stock its 28th biggest position. Grassi Investment Management’s holdings in Boeing were worth $10,905,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. FNY Investment Advisers LLC acquired a new position in shares of Boeing in the 2nd quarter valued at about $131,000. Norway Savings Bank lifted its stake in shares of Boeing by 34.7% in the 2nd quarter. Norway Savings Bank now owns 4,251 shares of the aircraft producer’s stock valued at $898,000 after purchasing an additional 1,095 shares in the last quarter. Gradient Investments LLC lifted its stake in shares of Boeing by 3.1% in the 2nd quarter. Gradient Investments LLC now owns 7,067 shares of the aircraft producer’s stock valued at $1,492,000 after purchasing an additional 211 shares in the last quarter. Good Life Advisors LLC lifted its stake in shares of Boeing by 7.5% in the 2nd quarter. Good Life Advisors LLC now owns 7,441 shares of the aircraft producer’s stock valued at $1,571,000 after purchasing an additional 521 shares in the last quarter. Finally, Sanders Morris Harris LLC lifted its position in Boeing by 208.9% during the 2nd quarter. Sanders Morris Harris LLC now owns 3,475 shares of the aircraft producer’s stock worth $733,000 after acquiring an additional 2,350 shares in the last quarter. 61.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BA shares. Jefferies Financial Group boosted their price target on Boeing from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Monday, July 31st. Susquehanna reissued a “positive” rating and set a $270.00 price target on shares of Boeing in a research report on Wednesday, September 13th. Bank of America raised Boeing from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $225.00 to $300.00 in a research report on Thursday, July 27th. StockNews.com initiated coverage on Boeing in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Citigroup upped their target price on Boeing from $248.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, July 28th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $245.13.

Insider Activity

In other news, Director Steven M. Mollenkopf acquired 850 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was acquired at an average price of $237.00 per share, for a total transaction of $201,450.00. Following the completion of the acquisition, the director now directly owns 3,767 shares in the company, valued at approximately $892,779. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Steven M. Mollenkopf bought 850 shares of Boeing stock in a transaction dated Monday, July 31st. The stock was acquired at an average cost of $237.00 per share, with a total value of $201,450.00. Following the completion of the acquisition, the director now directly owns 3,767 shares in the company, valued at approximately $892,779. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Theodore Colbert III sold 8,500 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $238.37, for a total value of $2,026,145.00. Following the sale, the chief executive officer now directly owns 59,255 shares of the company’s stock, valued at $14,124,614.35. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

Boeing Stock Performance

Shares of BA stock opened at $207.90 on Monday. The firm has a market capitalization of $125.07 billion, a PE ratio of -27.79 and a beta of 1.43. The stock has a fifty day moving average of $223.54 and a two-hundred day moving average of $213.09. The Boeing Company has a 1 year low of $120.99 and a 1 year high of $243.10.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 26th. The aircraft producer reported ($0.82) earnings per share for the quarter, beating the consensus estimate of ($0.99) by $0.17. The firm had revenue of $19.75 billion during the quarter, compared to analyst estimates of $18.59 billion. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.37) EPS. Equities research analysts predict that The Boeing Company will post -2.6 earnings per share for the current fiscal year.

Boeing Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.