Worth Asset Management LLC Sells 4,353 Shares of The Boeing Company $BA

Worth Asset Management LLC trimmed its stake in The Boeing Company (NYSE:BA) by 68.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,015 shares of the aircraft producer’s stock after selling 4,353 shares during the period. Worth Asset Management LLC’s holdings in Boeing were worth $435,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BA. Alpha Cubed Investments LLC raised its position in shares of Boeing by 43.3% in the second quarter. Alpha Cubed Investments LLC now owns 3,598 shares of the aircraft producer’s stock valued at $754,000 after buying an additional 1,088 shares during the last quarter. McElhenny Sheffield Capital Management LLC acquired a new position in shares of Boeing during the 2nd quarter worth approximately $62,859,000. Vanguard Group Inc. lifted its position in Boeing by 1.7% during the second quarter. Vanguard Group Inc. now owns 66,773,360 shares of the aircraft producer’s stock worth $13,991,022,000 after buying an additional 1,118,316 shares in the last quarter. Patton Fund Management Inc. grew its holdings in Boeing by 734.4% in the 3rd quarter. Patton Fund Management Inc. now owns 10,322 shares of the aircraft producer’s stock valued at $2,228,000 after buying an additional 9,085 shares in the last quarter. Finally, Vestor Capital LLC increased its stake in shares of Boeing by 8,287.4% in the 2nd quarter. Vestor Capital LLC now owns 246,086 shares of the aircraft producer’s stock worth $51,562,000 after acquiring an additional 243,152 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BA. Jefferies Financial Group set a $255.00 price target on shares of Boeing in a research report on Tuesday, September 30th. Loop Capital set a $223.00 target price on shares of Boeing in a research note on Monday, November 3rd. UBS Group reissued a “buy” rating on shares of Boeing in a research note on Wednesday, December 10th. Susquehanna reduced their price target on shares of Boeing from $270.00 to $255.00 and set a “positive” rating on the stock in a research report on Wednesday, November 12th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $250.00 price objective on shares of Boeing in a report on Monday, September 29th. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $233.17.

Boeing Trading Down 0.8%

Shares of NYSE BA opened at $216.34 on Friday. The stock has a market capitalization of $164.44 billion, a PE ratio of -15.81 and a beta of 1.18. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The stock has a fifty day simple moving average of $202.10 and a 200-day simple moving average of $214.26.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The company had revenue of $23.27 billion during the quarter, compared to the consensus estimate of $21.61 billion. Boeing’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same period last year, the business earned ($10.44) EPS. On average, equities analysts predict that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Activity

In related news, EVP Uma M. Amuluru sold 1,366 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $197.66, for a total transaction of $270,003.56. Following the sale, the executive vice president directly owned 14,656 shares of the company’s stock, valued at $2,896,904.96. This represents a 8.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Dana S. Deasy purchased 554 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was acquired at an average cost of $178.88 per share, with a total value of $99,099.52. Following the transaction, the senior vice president directly owned 28,442 shares in the company, valued at $5,087,704.96. This trade represents a 1.99% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.09% of the stock is currently owned by corporate insiders.

Boeing Profile

Boeing Company (NYSE: BA) is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing’s principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.