Verdence Capital Advisors LLC Cuts Stock Holdings in The Boeing Company $BA

Verdence Capital Advisors LLC reduced its position in shares of The Boeing Company (NYSE:BA) by 14.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 9,879 shares of the aircraft producer’s stock after selling 1,735 shares during the period. Verdence Capital Advisors LLC’s holdings in Boeing were worth $2,070,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Boeing by 1.9% in the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock valued at $11,197,468,000 after purchasing an additional 1,212,327 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Boeing by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer’s stock valued at $715,979,000 after purchasing an additional 19,615 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Boeing by 3.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,933,139 shares of the aircraft producer’s stock valued at $500,247,000 after purchasing an additional 91,707 shares in the last quarter. Swiss National Bank grew its position in shares of Boeing by 2.5% in the first quarter. Swiss National Bank now owns 2,110,200 shares of the aircraft producer’s stock valued at $359,895,000 after purchasing an additional 51,700 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of Boeing by 3.7% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,968,748 shares of the aircraft producer’s stock valued at $335,770,000 after purchasing an additional 69,560 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Rothschild & Co Redburn upgraded Boeing from a “neutral” rating to a “buy” rating and set a $275.00 price target for the company in a research report on Friday, June 27th. Susquehanna reiterated a “positive” rating and issued a $270.00 price objective on shares of Boeing in a report on Monday, September 15th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $250.00 price objective on shares of Boeing in a report on Monday, September 29th. Jefferies Financial Group set a $255.00 price objective on Boeing in a report on Tuesday, September 30th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Boeing in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned 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 stock has a consensus rating of “Moderate Buy” and an average target price of $236.00.

Boeing Stock Up 2.3%

NYSE:BA opened at $215.53 on Tuesday. The stock’s fifty day moving average is $224.15 and its two-hundred day moving average is $206.87. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69. The stock has a market capitalization of $162.98 billion, a price-to-earnings ratio of -13.05 and a beta of 1.47.

Boeing (NYSE:BA) last released its quarterly earnings results 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 the consensus estimate of $20.13 billion. During the same quarter last year, the business earned ($2.90) EPS. The firm’s quarterly revenue was up 34.9% compared to the same quarter last year. On average, sell-side analysts expect that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the transaction, the executive vice president directly owned 35,873 shares in the company, valued at $8,248,637.62. This 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 available at the SEC website. Also, Director Mortimer J. Buckley purchased 2,200 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were purchased at an average price 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. This represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is owned by corporate insiders.

Boeing Company 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.