Wedbush Securities Inc. Sells 2,163 Shares of The Boeing Company $BA

Wedbush Securities Inc. reduced its position in The Boeing Company (NYSE:BA) by 5.1% during the third quarter, Holdings Channel reports. The institutional investor owned 40,599 shares of the aircraft producer’s stock after selling 2,163 shares during the quarter. Wedbush Securities Inc.’s holdings in Boeing were worth $8,763,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BA. Westover Capital Advisors LLC purchased a new stake in Boeing during the third quarter valued at approximately $475,000. Onyx Bridge Wealth Group LLC increased its position in shares of Boeing by 7.6% during the third quarter. Onyx Bridge Wealth Group LLC now owns 4,136 shares of the aircraft producer’s stock worth $893,000 after purchasing an additional 293 shares in the last quarter. Caprock Group LLC acquired a new position in shares of Boeing during the third quarter worth $2,883,000. ING Groep NV purchased a new stake in shares of Boeing during the 3rd quarter valued at $7,670,000. Finally, Rhumbline Advisers boosted its position in shares of Boeing by 0.6% in the 3rd quarter. Rhumbline Advisers now owns 1,214,701 shares of the aircraft producer’s stock worth $262,169,000 after purchasing an additional 7,839 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

Shares of NYSE:BA opened at $236.65 on Thursday. The company has a current ratio of 1.19, a quick ratio of 0.40 and a debt-to-equity ratio of 8.37. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $254.35. The company’s 50 day moving average is $227.35 and its 200 day moving average is $219.21. The company has a market cap of $185.85 billion, a PE ratio of 117.74 and a beta of 1.15.

Boeing (NYSE:BA) last released its quarterly earnings data on Tuesday, January 27th. The aircraft producer reported $9.92 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $10.32. The business had revenue of $23.95 billion during the quarter, compared to analyst estimates of $22.41 billion. The firm’s revenue was up 57.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($5.90) EPS. On average, sell-side analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Insider Buying and Selling at Boeing

In related news, SVP Dana S. Deasy acquired 554 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was acquired at an average price of $178.88 per share, with a total value of $99,099.52. Following the acquisition, the senior vice president directly owned 28,442 shares in the company, valued at $5,087,704.96. This represents a 1.99% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Howard E. Mckenzie sold 10,497 shares of the company’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $233.99, for a total value of $2,456,193.03. Following the completion of the sale, the executive vice president owned 14,692 shares in the company, valued at $3,437,781.08. The trade was a 41.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BA shares. Loop Capital set a $223.00 target price on Boeing in a research report on Monday, November 3rd. Morgan Stanley set a $245.00 price target on Boeing in a research note on Wednesday, January 28th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Boeing in a research report on Wednesday, January 28th. Susquehanna reiterated a “positive” rating and issued a $280.00 target price on shares of Boeing in a research note on Thursday, January 15th. Finally, Royal Bank Of Canada boosted their target price on shares of Boeing from $265.00 to $275.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $246.14.

Boeing Profile

Boeing Company (NYSE: BA) is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing’s principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.