The Boeing Company $BA Stock: Kelleher Financial Advisors Cuts Stake

Kelleher Financial Advisors trimmed its position in The Boeing Company (NYSE:BA) by 41.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,219 shares of the aircraft producer’s stock after selling 3,743 shares during the quarter. Kelleher Financial Advisors’ holdings in Boeing were worth $971,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jupiter Topco LLC purchased a new stake in shares of Boeing in the second quarter worth $911,878,000. Bank of New York Mellon Corp bought a new stake in shares of Boeing during the 2nd quarter valued at $747,763,000. Legal & General Group Plc bought a new stake in shares of Boeing during the 2nd quarter valued at $710,816,000. Deutsche Bank AG purchased a new position in shares of Boeing during the 2nd quarter valued at $539,456,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Boeing during the 2nd quarter valued at $441,997,000. Institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

BA has been the subject of several recent analyst reports. Btg Pactual set a $260.00 target price on shares of Boeing in a report on Tuesday, July 14th. Royal Bank Of Canada reissued an “outperform” rating and set a $235.00 price target on shares of Boeing in a report on Monday, October 26th. Wall Street Zen downgraded Boeing from a “hold” rating to a “sell” rating in a research report on Saturday, October 24th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Boeing in a research note on Monday, October 19th. Finally, Oppenheimer cut Boeing to a “market perform” rating in a research report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $247.88.

Key Stories Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Avolon finalized an order for 140 Boeing 737-10 jets, a record 737 MAX purchase by a lessor. The deal lifts Avolon’s 737 MAX backlog above 240 aircraft and underscores demand for Boeing’s single-aisle jets. Avolon Finalizes Order for 140 Boeing 737-10 Jets
• Positive Sentiment: Two Boeing directors bought about $1.51 million of shares after the recent earnings report: Mortimer Buckley purchased 5,820 shares and Steven Mollenkopf bought 2,950. The insider buying may signal confidence in the company’s recovery, although it does not guarantee improved results. Boeing Chairman and Former Vanguard CEO Buy $1.51 Million in Stock
• Neutral Sentiment: Coverage described a mixed day for Boeing, with fuel-tank inspection concerns counterbalanced by new orders. The available report details do not specify the scope or likely financial impact of the inspections. Fuel Tank Inspections, New Orders Send Boeing Stock Rising
• Negative Sentiment: Boeing’s recovery still faces execution risks: its 737 MAX production ramp has been pushed back, while Emirates has voiced concern about the delayed 777X. Further schedule setbacks could postpone deliveries and revenue. Boeing Stock Slips as Emirates Gets Concerned

Boeing Price Performance

Shares of NYSE:BA opened at $176.88 on Thursday. The company has a debt-to-equity ratio of 6.31, a quick ratio of 0.34 and a current ratio of 1.13. The firm has a fifty day moving average price of $193.91 and a 200 day moving average price of $216.17. The Boeing Company has a fifty-two week low of $165.01 and a fifty-two week high of $254.35. The firm has a market cap of $140.17 billion, a price-to-earnings ratio of 19.25 and a beta of 1.34.

Boeing (NYSE:BA) last announced its quarterly earnings results on Tuesday, October 27th. The aircraft producer reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.09). The company had revenue of $24.19 billion during the quarter, compared to the consensus estimate of $23.95 billion. Boeing had a net margin of 7.98% and a negative return on equity of 42.40%. The business’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($7.47) earnings per share. As a group, sell-side analysts expect that The Boeing Company will post -1.72 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Steven M. Mollenkopf bought 2,950 shares of Boeing stock in a transaction dated Friday, October 30th. The shares were purchased at an average cost of $173.03 per share, with a total value of $510,438.50. Following the completion of the acquisition, the director owned 6,717 shares of the company’s stock, valued at $1,162,242.51. This trade represents a 78.31% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mortimer J. Buckley bought 5,820 shares of the firm’s stock in a transaction that occurred on Friday, October 30th. The stock was purchased at an average price of $171.55 per share, for a total transaction of $998,421.00. Following the completion of the transaction, the director directly owned 10,250 shares of the company’s stock, valued at $1,758,387.50. This represents a 131.38% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.10% of the stock is owned by corporate insiders.

About Boeing

The Boeing Company (NYSE: BA) is a global aerospace company that designs, manufactures and supports commercial airplanes, military aircraft, satellites, space systems and related products and services. Its offerings serve airlines, government agencies, defense organizations and other customers worldwide.

Boeing operates through three principal business areas: Commercial Airplanes, which develops and produces passenger and cargo aircraft; Defense, Space & Security, which provides military aircraft, weapons systems, satellites and space-related platforms; and Global Services, which offers parts, maintenance, training, engineering and other lifecycle support.

Founded in 1916 by William Boeing, the company has grown into one of the world’s major aerospace manufacturers.