Sachetta LLC Reduces Position in The Boeing Company $BA

Sachetta LLC decreased its stake in shares of The Boeing Company (NYSE:BA) by 14.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 479 shares of the aircraft producer’s stock after selling 78 shares during the period. Sachetta LLC’s holdings in Boeing were worth $100,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of BA. Piscataqua Savings Bank increased its position in Boeing by 1,712.5% during the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock worth $30,000 after buying an additional 137 shares in the last quarter. Proathlete Wealth Management LLC purchased a new stake in shares of Boeing in the first quarter valued at $34,000. Monetary Management Group Inc. grew its position in shares of Boeing by 33.3% in the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock valued at $34,000 after purchasing an additional 50 shares during the period. Columbia River Financial Group LLC purchased a new stake in shares of Boeing in the first quarter valued at $50,000. Finally, Iron Horse Wealth Management LLC grew its position in shares of Boeing by 33.8% in the first quarter. Iron Horse Wealth Management LLC now owns 297 shares of the aircraft producer’s stock valued at $51,000 after purchasing an additional 75 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Citigroup reaffirmed a “buy” rating on shares of Boeing in a research report on Monday, July 28th. KGI Securities raised Boeing from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 24th. Redburn Atlantic raised Boeing from a “hold” rating to a “strong-buy” rating and lifted their price objective for the company from $180.00 to $275.00 in a research report on Friday, June 27th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Boeing in a research report on Monday, July 28th. Finally, Sanford C. Bernstein lifted their price objective on Boeing from $249.00 to $282.00 and gave the company an “outperform” rating in a research report on Thursday, October 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and an average price target of $233.91.

Insider Transactions at Boeing

In related news, Director Mortimer J. Buckley acquired 2,200 shares of Boeing stock in a transaction on Tuesday, August 19th. The shares were bought at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the purchase, the director directly owned 2,200 shares in the company, valued at $497,420. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the transaction, the executive vice president owned 35,873 shares in the company, valued at approximately $8,248,637.62. This represents a 9.51% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Boeing Trading Up 1.5%

Shares of Boeing stock opened at $219.62 on Tuesday. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The stock has a market capitalization of $166.07 billion, a P/E ratio of -13.30 and a beta of 1.47. The business’s fifty day moving average price is $224.72 and its 200 day moving average price is $205.50.

Boeing (NYSE:BA) last issued its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.32). The company had revenue of $22.75 billion during the quarter, compared to analysts’ expectations of $20.13 billion. During the same quarter in the prior year, the firm earned ($2.90) EPS. The company’s revenue was up 34.9% compared to the same quarter last year. As a group, sell-side analysts predict that The Boeing Company will post -2.58 EPS for the current 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 Commercial Airplanes; Defense, Space & Security; and Global Services segments.