The Boeing Company (NYSE:BA) Shares Sold by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust lowered its position in The Boeing Company (NYSE:BA) by 41.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,238 shares of the aircraft producer’s stock after selling 1,553 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Boeing were worth $407,000 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. Wellington Shields Capital Management LLC grew its holdings in Boeing by 10.3% during the 2nd quarter. Wellington Shields Capital Management LLC now owns 28,181 shares of the aircraft producer’s stock worth $5,129,000 after acquiring an additional 2,637 shares in the last quarter. Synergy Asset Management LLC grew its stake in Boeing by 21.1% in the second quarter. Synergy Asset Management LLC now owns 1,805 shares of the aircraft producer’s stock worth $329,000 after purchasing an additional 315 shares in the last quarter. Jeppson Wealth Management LLC increased its holdings in Boeing by 8.3% in the second quarter. Jeppson Wealth Management LLC now owns 5,829 shares of the aircraft producer’s stock valued at $1,061,000 after buying an additional 449 shares during the last quarter. Blue Barn Wealth LLC raised its stake in Boeing by 41.3% during the second quarter. Blue Barn Wealth LLC now owns 1,843 shares of the aircraft producer’s stock valued at $335,000 after buying an additional 539 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in Boeing by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 168,037 shares of the aircraft producer’s stock worth $30,584,000 after buying an additional 3,108 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BA has been the subject of a number of research analyst reports. Wells Fargo & Company reiterated an “underweight” rating and issued a $119.00 price target (down from $185.00) on shares of Boeing in a report on Tuesday. Stifel Nicolaus increased their target price on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. UBS Group decreased their price target on shares of Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a report on Friday, June 7th. Bank of America increased their price objective on shares of Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, June 13th. Finally, Robert W. Baird decreased their target price on Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, June 3rd. Three analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Boeing has a consensus rating of “Moderate Buy” and an average target price of $211.29.

Boeing Stock Performance

Shares of BA stock opened at $157.65 on Friday. The stock has a market cap of $96.78 billion, a PE ratio of -44.41 and a beta of 1.56. The business’s fifty day moving average is $176.53 and its 200-day moving average is $180.81. The Boeing Company has a 1 year low of $156.70 and a 1 year high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. During the same quarter in the previous year, the business posted ($0.82) EPS. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. Equities research analysts predict that The Boeing Company will post -4.26 earnings per share for the current year.

About Boeing

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.