The Boeing Company (NYSE:BA) Shares Sold by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC cut its position in The Boeing Company (NYSE:BA) by 38.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,255 shares of the aircraft producer’s stock after selling 1,394 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Boeing were worth $406,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. U.S. Capital Wealth Advisors LLC grew its stake in Boeing by 41.5% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 15,761 shares of the aircraft producer’s stock worth $4,108,000 after purchasing an additional 4,622 shares in the last quarter. Orca Investment Management LLC raised its stake in Boeing by 5.5% during the fourth quarter. Orca Investment Management LLC now owns 3,772 shares of the aircraft producer’s stock worth $983,000 after acquiring an additional 195 shares during the period. One Charles Private Wealth Services LLC bought a new position in Boeing in the fourth quarter worth about $205,000. Madison Park Capital Advisors LLC acquired a new position in Boeing in the fourth quarter valued at approximately $305,000. Finally, Sanders Morris Harris LLC grew its holdings in shares of Boeing by 869.1% during the first quarter. Sanders Morris Harris LLC now owns 22,775 shares of the aircraft producer’s stock valued at $4,395,000 after purchasing an additional 20,425 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. UBS Group cut their target price on shares of Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, June 7th. Stifel Nicolaus boosted their target price on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $225.00 target price on shares of Boeing in a research report on Tuesday, June 25th. Robert W. Baird reduced their price target on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. Finally, Susquehanna restated a “positive” rating and issued a $230.00 target price on shares of Boeing in a report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Boeing currently has an average rating of “Moderate Buy” and an average target price of $215.18.

Boeing Price Performance

Shares of BA stock traded up $0.18 during trading hours on Wednesday, reaching $172.28. The company had a trading volume of 1,384,958 shares, compared to its average volume of 8,004,614. The Boeing Company has a 1-year low of $159.70 and a 1-year high of $267.54. The firm has a market cap of $105.76 billion, a price-to-earnings ratio of -48.48 and a beta of 1.56. The company has a 50 day moving average of $178.86 and a 200 day moving average of $183.87.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The company had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same period in the previous year, the firm posted ($0.82) EPS. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. As a group, sell-side analysts forecast that The Boeing Company will post -2.38 EPS 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.