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

Truist Financial Corp decreased its holdings in The Boeing Company (NYSE:BA) by 10.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 348,241 shares of the aircraft producer’s stock after selling 41,408 shares during the period. Truist Financial Corp’s holdings in Boeing were worth $63,383,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC bought a new position in Boeing in the fourth quarter worth approximately $26,000. Vima LLC bought a new position in Boeing in the fourth quarter worth approximately $34,000. Accent Capital Management LLC bought a new position in Boeing in the fourth quarter worth approximately $39,000. Frank Rimerman Advisors LLC bought a new position in Boeing in the fourth quarter worth approximately $48,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Boeing during the second quarter worth $34,000. Institutional investors own 64.82% of the company’s stock.

Boeing Trading Up 1.4 %

BA stock opened at $154.24 on Wednesday. The Boeing Company has a twelve month low of $149.49 and a twelve month high of $267.54. The company’s 50 day moving average is $167.34 and its two-hundred day moving average is $175.70. The stock has a market cap of $94.69 billion, a P/E ratio of -43.45 and a beta of 1.57.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same quarter in the prior year, the firm posted ($0.82) earnings per share. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. On average, equities research analysts predict that The Boeing Company will post -4.27 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Susquehanna reissued a “positive” rating and issued a $230.00 target price on shares of Boeing in a research report on Wednesday, August 14th. UBS Group cut 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. Jefferies Financial Group cut their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Bank of America lifted their target price on shares of Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, June 13th. Finally, The Goldman Sachs Group dropped their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Boeing has a consensus rating of “Moderate Buy” and a consensus price target 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.