Wedbush Securities Inc. Has $8.76 Million Stake in The Boeing Company $BA

Wedbush Securities Inc. trimmed its position in The Boeing Company (NYSE:BA) by 5.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 40,599 shares of the aircraft producer’s stock after selling 2,163 shares during the period. Wedbush Securities Inc.’s holdings in Boeing were worth $8,763,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Harbor Asset Planning Inc. bought a new position in shares of Boeing during the 2nd quarter worth $25,000. Davis Capital Management purchased a new position in shares of Boeing in the third quarter worth $33,000. Howard Hughes Medical Institute purchased a new position in shares of Boeing during the second quarter valued at about $34,000. Decker Retirement Planning Inc. purchased a new position in Boeing during the 2nd quarter valued at about $35,000. Finally, Centerpoint Advisors LLC grew its position in Boeing by 62.4% during the 3rd quarter. Centerpoint Advisors LLC now owns 164 shares of the aircraft producer’s stock valued at $35,000 after purchasing an additional 63 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Trading Down 2.4%

BA opened at $236.65 on Thursday. The company has a quick ratio of 0.40, a current ratio of 1.19 and a debt-to-equity ratio of 8.37. The stock’s fifty day moving average is $227.35 and its two-hundred day moving average is $219.21. The company has a market capitalization of $185.85 billion, a P/E ratio of 117.74 and a beta of 1.15. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $254.35.

Boeing (NYSE:BA) last posted its quarterly earnings results on Tuesday, January 27th. The aircraft producer reported $9.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $10.32. The firm had revenue of $23.95 billion for the quarter, compared to the consensus estimate of $22.41 billion. Boeing’s quarterly revenue was up 57.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($5.90) EPS. Analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

Analysts Set New Price Targets

BA has been the topic of a number of research reports. Weiss Ratings raised shares of Boeing from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday, February 4th. Wolfe Research reiterated an “outperform” rating on shares of Boeing in a research report on Tuesday, January 27th. Susquehanna reissued a “positive” rating and set a $280.00 price objective on shares of Boeing in a research note on Thursday, January 15th. Zacks Research raised Boeing from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 2nd. Finally, JPMorgan Chase & Co. boosted their target price on Boeing from $245.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $246.14.

Insiders Place Their Bets

In other Boeing news, EVP Uma M. Amuluru sold 2,731 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $236.00, for a total transaction of $644,516.00. Following the transaction, the executive vice president owned 11,925 shares of the company’s stock, valued at approximately $2,814,300. This trade represents a 18.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Howard E. Mckenzie sold 10,497 shares of the business’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $233.99, for a total transaction of $2,456,193.03. Following the completion of the sale, the executive vice president owned 14,692 shares of the company’s stock, valued at approximately $3,437,781.08. This represents a 41.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.09% of the stock is owned by company insiders.

About Boeing

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.