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

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 Stock Up 0.7 %

NYSE BA traded up $0.90 during trading on Friday, hitting $139.04. The company’s stock had a trading volume of 4,429,155 shares, compared to its average volume of 9,140,184. The firm has a 50 day moving average price of $153.55 and a 200 day moving average price of $169.67. The firm has a market cap of $85.95 billion, a P/E ratio of -10.71 and a beta of 1.57. The Boeing Company has a 52 week low of $137.18 and a 52 week high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share 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 the consensus estimate of $17.81 billion. During the same quarter in the previous year, the firm earned ($3.26) earnings per share. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities analysts expect that The Boeing Company will post -16.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BA shares. Stifel Nicolaus boosted their price objective on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Jefferies Financial Group dropped their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. TD Cowen lowered their target price on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $195.00 to $169.00 in a report on Wednesday, October 30th. Finally, Robert W. Baird cut their target price on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Boeing currently has an average rating of “Hold” and an average target price of $190.37.

Hedge Funds Weigh In On Boeing

Institutional investors and hedge funds have recently made changes to their positions in the business. RPg Family Wealth Advisory LLC bought a new position in shares of Boeing during the 3rd quarter valued at about $28,000. Cedar Wealth Management LLC purchased a new position in shares of Boeing during the third quarter worth approximately $30,000. Kiely Wealth Advisory Group Inc. purchased a new position in Boeing during the second quarter valued at approximately $33,000. Hobbs Group Advisors LLC acquired a new stake in Boeing in the second quarter valued at approximately $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Boeing by 351.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after buying an additional 165 shares during the period. Institutional investors own 64.82% of the company’s stock.

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.

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.