Focus Partners Advisor Solutions LLC Trims Stake in The Boeing Company $BA

Focus Partners Advisor Solutions LLC reduced its position in The Boeing Company (NYSE:BA) by 9.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,396 shares of the aircraft producer’s stock after selling 1,423 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Boeing were worth $2,806,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of BA. Leelyn Smith LLC increased its holdings in Boeing by 1.4% during the second quarter. Leelyn Smith LLC now owns 22,841 shares of the aircraft producer’s stock valued at $4,786,000 after buying an additional 311 shares during the period. Pinnacle Wealth Management Group Inc. acquired a new stake in Boeing in the second quarter valued at approximately $710,000. Sage Mountain Advisors LLC boosted its stake in Boeing by 42.9% in the second quarter. Sage Mountain Advisors LLC now owns 4,407 shares of the aircraft producer’s stock valued at $923,000 after acquiring an additional 1,322 shares in the last quarter. Lee Danner & Bass Inc. lifted its stake in shares of Boeing by 2.3% during the second quarter. Lee Danner & Bass Inc. now owns 28,723 shares of the aircraft producer’s stock worth $6,018,000 after buying an additional 643 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Boeing by 2.3% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,014,928 shares of the aircraft producer’s stock worth $422,188,000 after buying an additional 46,180 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Boeing

In related news, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mortimer J. Buckley purchased 2,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average price of $226.10 per share, with a total value of $497,420.00. Following the purchase, the director owned 2,200 shares in the company, valued at $497,420. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BA shares. JPMorgan Chase & Co. lifted their price objective on shares of Boeing from $230.00 to $251.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Vertical Research upgraded shares of Boeing from a “hold” rating to a “buy” rating and boosted their target price for the company from $242.00 to $270.00 in a research report on Monday, September 8th. Sanford C. Bernstein boosted their target price on shares of Boeing from $249.00 to $282.00 and gave the company an “outperform” rating in a research report on Thursday, October 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Boeing in a research report on Friday. Finally, KGI Securities upgraded shares of Boeing from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $242.32.

Boeing Trading Up 1.5%

BA opened at $221.13 on Friday. The firm has a market capitalization of $167.21 billion, a PE ratio of -13.39 and a beta of 1.47. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The firm’s 50-day moving average price is $221.68 and its 200 day moving average price is $210.51.

Boeing (NYSE:BA) last posted its quarterly 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 for the quarter, compared to analysts’ expectations of $20.13 billion. During the same quarter in the previous 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, analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal 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.