Truist Financial Corp Sells 41,408 Shares of The Boeing Company (NYSE:BA)

Truist Financial Corp reduced its stake in The Boeing Company (NYSE:BA) by 10.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 348,241 shares of the aircraft producer’s stock after selling 41,408 shares during the quarter. Truist Financial Corp owned approximately 0.06% of Boeing worth $63,383,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Sanders Morris Harris LLC raised its holdings in Boeing by 869.1% in the 1st quarter. Sanders Morris Harris LLC now owns 22,775 shares of the aircraft producer’s stock worth $4,395,000 after purchasing an additional 20,425 shares during the period. Park Avenue Securities LLC raised its holdings in Boeing by 20.7% during the first quarter. Park Avenue Securities LLC now owns 10,543 shares of the aircraft producer’s stock valued at $2,035,000 after acquiring an additional 1,805 shares during the period. Williams Financial LLC bought a new stake in Boeing during the second quarter valued at about $1,637,000. Granite Bay Wealth Management LLC bought a new stake in Boeing during the second quarter valued at about $561,000. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in Boeing by 115.6% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 14,637 shares of the aircraft producer’s stock valued at $2,825,000 after acquiring an additional 7,848 shares during the period. 64.82% of the stock is owned by institutional investors.

Boeing Price Performance

Shares of NYSE:BA opened at $154.24 on Wednesday. The business has a 50 day simple moving average of $167.34 and a two-hundred day simple moving average of $175.70. The Boeing Company has a 1 year low of $149.49 and a 1 year high of $267.54. The firm has a market capitalization of $94.69 billion, a PE ratio of -43.45 and a beta of 1.57.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. During the same period in the previous year, the company earned ($0.82) earnings per share. The business’s quarterly revenue was down 14.6% on a year-over-year basis. Equities research analysts expect that The Boeing Company will post -4.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on BA. Susquehanna reissued a “positive” rating and set a $230.00 price target on shares of Boeing in a report on Wednesday, August 14th. Stifel Nicolaus raised their price target on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. TD Cowen cut their price objective on Boeing from $230.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $225.00 price objective on shares of Boeing in a research report on Tuesday, June 25th. Finally, Bank of America raised their price objective on Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, June 13th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $207.67.

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.