Rep. Thomas R. Suozzi Unloads The Boeing Company (NYSE:BA) Shares

Representative Thomas R. Suozzi (D-New York) recently sold shares of The Boeing Company (NYSE:BA). In a filing disclosed on November 12th, the Representative disclosed that they had sold between $1,001 and $15,000 in Boeing stock on October 24th. The trade occurred in the Representative’s “MERRILL LYNCH- ADVISOR DISCRETION ACCOUNT- IRA” account.

Representative Thomas R. Suozzi also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Corning (NYSE:GLW) on 10/24/2024.
• Sold $15,001 – $50,000 in shares of NVIDIA (NASDAQ:NVDA) on 10/24/2024.
• Purchased $15,001 – $50,000 in shares of NVIDIA (NASDAQ:NVDA) on 10/24/2024.
• Sold $1,001 – $15,000 in shares of CVS Health (NYSE:CVS) on 10/24/2024.
• Sold $15,001 – $50,000 in shares of Apple (NASDAQ:AAPL) on 10/7/2024.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 10/2/2024.

Boeing Trading Down 1.3 %

Shares of Boeing stock opened at $138.13 on Friday. The Boeing Company has a 12-month low of $137.22 and a 12-month high of $267.54. The company has a 50-day simple moving average of $154.03 and a 200 day simple moving average of $169.89.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the prior year, the company posted ($3.26) earnings per share. The business’s quarterly revenue was down 1.5% on a year-over-year basis. On average, analysts predict that The Boeing Company will post -16.09 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BA. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a report on Wednesday, October 30th. UBS Group cut their price target on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Wells Fargo & Company decreased their price objective on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. The Goldman Sachs Group cut their target price on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Finally, TD Cowen decreased their target price on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $190.37.

Institutional Investors Weigh In On Boeing

Institutional investors have recently made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new stake in Boeing during the third quarter worth approximately $28,000. Cedar Wealth Management LLC bought a new stake in shares of Boeing during the 3rd quarter valued at $30,000. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Boeing during the 2nd quarter worth $33,000. Hobbs Group Advisors LLC bought a new position in shares of Boeing in the second quarter worth $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in Boeing by 351.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after purchasing an additional 165 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

About Representative Suozzi

Thomas Richard Suozzi (born August 31, 1962) is an American politician, attorney, and accountant serving as the U.S. representative for New York’s 3rd congressional district since 2024 and previously from 2017 to 2023. A member of the Democratic Party, he was the county executive of Nassau County on Long Island from 2002 to 2009, when he was unseated by Republican Ed Mangano. Before that, Suozzi served eight years as the mayor of Glen Cove in Nassau County.

In 2006, he ran unsuccessfully against Eliot Spitzer for the Democratic nomination for governor of New York. Suozzi was elected to the U.S. House of Representatives in 2016 and reelected in 2018 and 2020. He retired from Congress to run again for the Democratic gubernatorial nomination in 2022, losing to incumbent governor Kathy Hochul.

In October 2023, Suozzi announced that he would run for his old congressional seat in 2024.After Congress expelled George Santos that December, a special election to fill the remainder of the term was scheduled for February 13, 2024. Suozzi was selected as the Democratic nominee, and then won the special election, reclaiming the seat for Democrats.

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.