Rep. Thomas R. Suozzi Sells The Boeing Company (NYSE:BA) Shares

Representative Thomas R. Suozzi (D-New York) recently sold shares of The Boeing Company (NYSE:BA). In a filing disclosed on November 12th, the Representative disclosed that they had sold between $1,001 and $15,000 in Boeing stock on October 24th. The trade occurred in the Representative’s “MERRILL LYNCH- ADVISOR DISCRETION ACCOUNT- IRA” account.

Representative Thomas R. Suozzi also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Corning (NYSE:GLW) on 10/24/2024.
• Sold $15,001 – $50,000 in shares of NVIDIA (NASDAQ:NVDA) on 10/24/2024.
• Purchased $15,001 – $50,000 in shares of NVIDIA (NASDAQ:NVDA) on 10/24/2024.
• Sold $1,001 – $15,000 in shares of CVS Health (NYSE:CVS) on 10/24/2024.
• Sold $15,001 – $50,000 in shares of Apple (NASDAQ:AAPL) on 10/7/2024.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 10/2/2024.

Boeing Trading Down 1.3 %

Boeing stock opened at $138.13 on Friday. The firm’s fifty day moving average price is $154.03 and its two-hundred day moving average price is $169.89. The firm has a market capitalization of $85.39 billion, a price-to-earnings ratio of -10.91 and a beta of 1.57. The Boeing Company has a 1-year low of $137.22 and a 1-year high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same period in the previous year, the business posted ($3.26) earnings per share. The firm’s revenue was down 1.5% on a year-over-year basis. On average, research analysts forecast that The Boeing Company will post -16.09 EPS for the current year.

Analyst Ratings Changes

BA has been the subject of several analyst reports. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a report on Tuesday, October 15th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of Boeing in a research report on Wednesday, October 30th. The Goldman Sachs Group reduced their target price on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Susquehanna dropped their price target on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. Finally, TD Cowen decreased their target price on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $190.37.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Madison Park Capital Advisors LLC raised its position in shares of Boeing by 4.9% in the second quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock valued at $219,000 after buying an additional 56 shares during the last quarter. Wealth Alliance Advisory Group LLC raised its holdings in Boeing by 1.6% in the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock valued at $691,000 after acquiring an additional 60 shares during the last quarter. Angeles Wealth Management LLC raised its holdings in Boeing by 4.2% in the 1st quarter. Angeles Wealth Management LLC now owns 1,524 shares of the aircraft producer’s stock valued at $294,000 after acquiring an additional 61 shares during the last quarter. IMS Capital Management lifted its stake in Boeing by 0.4% in the 2nd quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock worth $2,759,000 after purchasing an additional 62 shares in the last quarter. Finally, ADE LLC boosted its holdings in shares of Boeing by 4.4% during the 2nd quarter. ADE LLC now owns 1,539 shares of the aircraft producer’s stock worth $280,000 after purchasing an additional 65 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

About Representative Suozzi

Thomas Richard Suozzi (born August 31, 1962) is an American politician, attorney, and accountant serving as the U.S. representative for New York’s 3rd congressional district since 2024 and previously from 2017 to 2023. A member of the Democratic Party, he was the county executive of Nassau County on Long Island from 2002 to 2009, when he was unseated by Republican Ed Mangano. Before that, Suozzi served eight years as the mayor of Glen Cove in Nassau County.

In 2006, he ran unsuccessfully against Eliot Spitzer for the Democratic nomination for governor of New York. Suozzi was elected to the U.S. House of Representatives in 2016 and reelected in 2018 and 2020. He retired from Congress to run again for the Democratic gubernatorial nomination in 2022, losing to incumbent governor Kathy Hochul.

In October 2023, Suozzi announced that he would run for his old congressional seat in 2024.After Congress expelled George Santos that December, a special election to fill the remainder of the term was scheduled for February 13, 2024. Suozzi was selected as the Democratic nominee, and then won the special election, reclaiming the seat for Democrats.

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.