May Hill Capital LLC Lowers Stock Position in The Boeing Company $BA

May Hill Capital LLC cut its position in shares of The Boeing Company (NYSE:BA) by 45.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,793 shares of the aircraft producer’s stock after selling 1,514 shares during the quarter. May Hill Capital LLC’s holdings in Boeing were worth $376,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in BA. Harbor Asset Planning Inc. purchased a new stake in Boeing during the second quarter worth $25,000. Piscataqua Savings Bank raised 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 acquiring an additional 137 shares during the period. Monetary Management Group Inc. raised its position in Boeing by 33.3% during the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock worth $34,000 after acquiring an additional 50 shares during the period. IMG Wealth Management Inc. raised its position in Boeing by 159.4% during the second quarter. IMG Wealth Management Inc. now owns 179 shares of the aircraft producer’s stock worth $38,000 after acquiring an additional 110 shares during the period. Finally, Keener Financial Planning LLC acquired a new position in Boeing during the second quarter worth $41,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on BA shares. Sanford C. Bernstein upped their price objective on shares of Boeing from $249.00 to $282.00 and gave the stock an “outperform” rating in a research report on Thursday, October 2nd. Royal Bank Of Canada restated an “outperform” rating and set a $250.00 price objective on shares of Boeing in a research report on Monday, September 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Boeing in a research report on Wednesday, October 8th. Bank of America upped their price objective on shares of Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. 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 research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $242.32.

Boeing Trading Up 0.7%

Boeing stock opened at $223.01 on Tuesday. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $242.69. The stock has a market cap of $168.63 billion, a P/E ratio of -13.51 and a beta of 1.47. The company has a 50-day moving average price of $221.49 and a 200 day moving average price of $211.29.

Boeing (NYSE:BA) last released its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the prior year, the firm posted ($2.90) EPS. The company’s revenue was up 34.9% compared to the same quarter last year. As a group, analysts forecast 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.