Kelleher Financial Advisors Sells 3,743 Shares of The Boeing Company $BA

Kelleher Financial Advisors reduced its holdings in The Boeing Company (NYSE:BA) by 41.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,219 shares of the aircraft producer’s stock after selling 3,743 shares during the period. Kelleher Financial Advisors’ holdings in Boeing were worth $971,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Jupiter Topco LLC purchased a new stake in shares of Boeing during the 2nd quarter valued at about $911,878,000. Bank of New York Mellon Corp bought a new position in shares of Boeing in the 2nd quarter valued at about $747,763,000. Legal & General Group Plc purchased a new position in Boeing in the second quarter worth about $710,816,000. Deutsche Bank AG purchased a new position in Boeing in the second quarter worth about $539,456,000. Finally, Swiss National Bank grew its position in Boeing by 7.6% in the first quarter. Swiss National Bank now owns 2,298,077 shares of the aircraft producer’s stock worth $457,386,000 after acquiring an additional 163,000 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Steven M. Mollenkopf purchased 2,950 shares of the company’s stock in a transaction dated Friday, October 30th. The shares were acquired at an average price of $173.03 per share, with a total value of $510,438.50. Following the transaction, the director owned 6,717 shares of the company’s stock, valued at $1,162,242.51. This represents a 78.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mortimer J. Buckley purchased 5,820 shares of the business’s stock in a transaction dated Friday, October 30th. The shares were purchased at an average price of $171.55 per share, for a total transaction of $998,421.00. Following the purchase, the director owned 10,250 shares of the company’s stock, valued at approximately $1,758,387.50. This trade represents a 131.38% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.10% of the company’s stock.

Trending Headlines about Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Avolon finalized an order for 140 Boeing 737-10 jets, a record 737 MAX purchase by a lessor. The deal lifts Avolon’s 737 MAX backlog above 240 aircraft and underscores demand for Boeing’s single-aisle jets. Avolon Finalizes Order for 140 Boeing 737-10 Jets
• Positive Sentiment: Two Boeing directors bought about $1.51 million of shares after the recent earnings report: Mortimer Buckley purchased 5,820 shares and Steven Mollenkopf bought 2,950. The insider buying may signal confidence in the company’s recovery, although it does not guarantee improved results. Boeing Chairman and Former Vanguard CEO Buy $1.51 Million in Stock
• Neutral Sentiment: Coverage described a mixed day for Boeing, with fuel-tank inspection concerns counterbalanced by new orders. The available report details do not specify the scope or likely financial impact of the inspections. Fuel Tank Inspections, New Orders Send Boeing Stock Rising
• Negative Sentiment: Boeing’s recovery still faces execution risks: its 737 MAX production ramp has been pushed back, while Emirates has voiced concern about the delayed 777X. Further schedule setbacks could postpone deliveries and revenue. Boeing Stock Slips as Emirates Gets Concerned

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Tigress Financial boosted their price objective on Boeing from $295.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Btg Pactual set a $260.00 price objective on Boeing in a research note on Tuesday, July 14th. Morgan Stanley lowered their price objective on Boeing from $225.00 to $195.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 28th. Piper Sandler cut Boeing from an “overweight” rating to a “neutral” rating in a report on Wednesday, October 28th. Finally, Jefferies Financial Group downgraded Boeing from a “buy” rating to a “hold” rating in a research report on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $247.88.

Boeing Stock Performance

Boeing stock opened at $176.88 on Thursday. The company has a 50 day moving average price of $193.91 and a 200-day moving average price of $216.17. The company has a debt-to-equity ratio of 6.31, a quick ratio of 0.34 and a current ratio of 1.13. The Boeing Company has a fifty-two week low of $165.01 and a fifty-two week high of $254.35. The company has a market capitalization of $140.17 billion, a PE ratio of 19.25 and a beta of 1.34.

Boeing (NYSE:BA) last announced its quarterly earnings results on Tuesday, October 27th. The aircraft producer reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.09). Boeing had a net margin of 7.98% and a negative return on equity of 42.40%. The firm had revenue of $24.19 billion during the quarter, compared to analysts’ expectations of $23.95 billion. During the same quarter in the previous year, the firm posted ($7.47) EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities analysts forecast that The Boeing Company will post -1.72 earnings per share for the current year.

Boeing Company Profile

The Boeing Company (NYSE: BA) is a global aerospace company that designs, manufactures and supports commercial airplanes, military aircraft, satellites, space systems and related products and services. Its offerings serve airlines, government agencies, defense organizations and other customers worldwide.

Boeing operates through three principal business areas: Commercial Airplanes, which develops and produces passenger and cargo aircraft; Defense, Space & Security, which provides military aircraft, weapons systems, satellites and space-related platforms; and Global Services, which offers parts, maintenance, training, engineering and other lifecycle support.

Founded in 1916 by William Boeing, the company has grown into one of the world’s major aerospace manufacturers.