Aviva PLC decreased its holdings in shares of The Boeing Company (NYSE:BA – Free Report) by 31.8% in the 1st quarter, HoldingsChannel reports. The firm owned 87,993 shares of the aircraft producer’s stock after selling 41,122 shares during the period. Aviva PLC’s holdings in Boeing were worth $18,692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also added to or reduced their stakes in the business. Sterling Investment Advisors Ltd. boosted its position in shares of Boeing by 12.6% in the first quarter. Sterling Investment Advisors Ltd. now owns 1,791 shares of the aircraft producer’s stock valued at $380,000 after acquiring an additional 200 shares during the period. Investment Management of Virginia LLC bought a new stake in shares of Boeing in the first quarter valued at about $216,000. Aureus Asset Management LLC acquired a new position in Boeing in the fourth quarter valued at about $2,690,000. Trust Co. of Vermont raised its stake in Boeing by 7.6% in the first quarter. Trust Co. of Vermont now owns 3,844 shares of the aircraft producer’s stock valued at $817,000 after purchasing an additional 272 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC acquired a new position in Boeing in the first quarter valued at about $324,000. Institutional investors and hedge funds own 61.33% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on BA shares. JPMorgan Chase & Co. boosted their price target on Boeing from $225.00 to $245.00 in a research note on Thursday, July 27th. SpectralCast reaffirmed a “reiterates” rating on shares of Boeing in a research note on Wednesday, June 21st. Wells Fargo & Company boosted their price target on Boeing from $250.00 to $270.00 in a research note on Tuesday, August 8th. TheStreet raised Boeing from a “d+” rating to a “c-” rating in a research note on Tuesday, August 15th. Finally, Citigroup boosted their target price on Boeing from $248.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $245.13.
Insider Activity at Boeing
In related news, Director Steven M. Mollenkopf bought 850 shares of Boeing stock in a transaction that occurred on Monday, July 31st. The shares were acquired at an average cost of $237.00 per share, for a total transaction of $201,450.00. Following the completion of the acquisition, the director now directly owns 3,767 shares of the company’s stock, valued at approximately $892,779. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Boeing news, CEO Theodore Colbert III sold 8,500 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $238.37, for a total transaction of $2,026,145.00. Following the transaction, the chief executive officer now directly owns 59,255 shares in the company, valued at approximately $14,124,614.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven M. Mollenkopf purchased 850 shares of the business’s stock in a transaction on Monday, July 31st. The shares were acquired at an average price of $237.00 per share, for a total transaction of $201,450.00. Following the completion of the acquisition, the director now directly owns 3,767 shares in the company, valued at approximately $892,779. The disclosure for this purchase can be found here. 0.15% of the stock is currently owned by company insiders.
Boeing Price Performance
Boeing stock opened at $223.40 on Friday. The business has a 50 day moving average of $222.94 and a 200-day moving average of $212.57. The Boeing Company has a 1 year low of $120.99 and a 1 year high of $243.10. The company has a market capitalization of $134.40 billion, a P/E ratio of -29.83 and a beta of 1.41.
Boeing (NYSE:BA – Get Free Report) last released its quarterly earnings data on Wednesday, July 26th. The aircraft producer reported ($0.82) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.99) by $0.17. The firm had revenue of $19.75 billion during the quarter, compared to analyst estimates of $18.59 billion. During the same period in the prior year, the company earned ($0.37) EPS. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. Equities analysts anticipate that The Boeing Company will post -1.98 EPS for the current year.
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 four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
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