Louisiana State Employees Retirement System Has $8.34 Million Position in The Boeing Company $BA

Louisiana State Employees Retirement System trimmed its position in The Boeing Company (NYSE:BA) by 1.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 39,800 shares of the aircraft producer’s stock after selling 500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Boeing were worth $8,339,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Piscataqua Savings Bank boosted its stake in shares of Boeing by 1,712.5% during the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock worth $30,000 after acquiring an additional 137 shares during the period. Proathlete Wealth Management LLC acquired a new stake in Boeing during the 1st quarter valued at $34,000. Monetary Management Group Inc. lifted its holdings in Boeing by 33.3% during the 1st 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 last quarter. Columbia River Financial Group LLC acquired a new stake in Boeing during the 1st quarter valued at $50,000. Finally, Iron Horse Wealth Management LLC lifted its holdings in Boeing by 33.8% during the 1st 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 last quarter. 64.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BA has been the topic of several research analyst reports. UBS Group set a $280.00 price objective on shares of Boeing and gave the company a “buy” rating in a research report on Wednesday, July 30th. Bank of America upped their price target on shares of Boeing from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 1st. The Goldman Sachs Group set a $212.00 price objective on Boeing and gave the stock a “buy” rating in a report on Thursday, June 12th. Morgan Stanley restated an “equal weight” rating on shares of Boeing in a report on Monday, July 28th. Finally, Vertical Research raised Boeing from a “hold” rating to a “buy” rating and lifted their price target for the stock from $242.00 to $270.00 in a report on Monday, September 8th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $233.91.

Insider Activity at Boeing

In related news, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $229.94, for a total value of $867,103.74. Following the transaction, the executive vice president directly owned 35,873 shares of the company’s stock, valued at $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mortimer J. Buckley acquired 2,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost 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 of the company’s stock, valued at $497,420. The trade was a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by insiders.

Boeing Price Performance

Boeing stock opened at $221.82 on Wednesday. The stock’s fifty day moving average price is $224.63 and its two-hundred day moving average price is $205.61. The Boeing Company has a one year low of $128.88 and a one year high of $242.69. The firm has a market cap of $167.73 billion, a PE ratio of -13.44 and a beta of 1.47.

Boeing (NYSE:BA) last posted its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.32). The business had revenue of $22.75 billion during the quarter, compared to analysts’ expectations of $20.13 billion. Boeing’s revenue for the quarter was up 34.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($2.90) EPS. Sell-side analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

About Boeing

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.