Crestwood Advisors Group LLC reduced its position in shares of The Boeing Company (NYSE:BA – Free Report) by 31.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,344 shares of the aircraft producer’s stock after selling 618 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Boeing were worth $286,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Moneta Group Investment Advisors LLC lifted its holdings in Boeing by 109,667.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 16,055,730 shares of the aircraft producer’s stock valued at $3,058,456,000 after purchasing an additional 16,041,103 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Boeing by 734.7% during the 1st quarter. Fisher Asset Management LLC now owns 4,359,740 shares of the aircraft producer’s stock worth $926,140,000 after purchasing an additional 3,837,422 shares during the last quarter. Morgan Stanley lifted its stake in Boeing by 11.7% in the 4th quarter. Morgan Stanley now owns 8,321,871 shares of the aircraft producer’s stock valued at $1,585,234,000 after buying an additional 872,795 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Boeing in the 1st quarter worth about $135,429,000. Finally, Wellington Management Group LLP increased its stake in Boeing by 125.0% during the 1st quarter. Wellington Management Group LLP now owns 1,139,143 shares of the aircraft producer’s stock worth $218,147,000 after buying an additional 632,913 shares in the last quarter. Hedge funds and other institutional investors own 61.33% of the company’s stock.
Analysts Set New Price Targets
Several research firms have recently weighed in on BA. JPMorgan Chase & Co. raised their target price on Boeing from $225.00 to $245.00 in a research report on Thursday, July 27th. Jefferies Financial Group lifted their target price on shares of Boeing from $250.00 to $275.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. TheStreet upgraded shares of Boeing from a “d+” rating to a “c-” rating in a research report on Tuesday, August 15th. SpectralCast restated a “reiterates” rating on shares of Boeing in a research report on Wednesday, June 21st. Finally, Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a report on Tuesday, August 1st. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $245.13.
Boeing Stock Down 0.5 %
NYSE:BA traded down $1.06 during trading hours on Wednesday, reaching $221.51. 422,788 shares of the stock were exchanged, compared to its average volume of 5,677,807. The Boeing Company has a twelve month low of $120.99 and a twelve month high of $243.10. The business has a 50-day moving average of $223.56 and a two-hundred day moving average of $212.69.
Boeing (NYSE:BA – Get Free Report) last announced its earnings results on Wednesday, July 26th. The aircraft producer reported ($0.82) EPS for the quarter, beating analysts’ consensus estimates of ($0.99) by $0.17. The firm had revenue of $19.75 billion for the quarter, compared to analysts’ expectations of $18.59 billion. The business’s revenue was up 18.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.37) earnings per share. Research analysts anticipate that The Boeing Company will post -1.95 EPS for the current year.
Insider Activity at Boeing
In other news, CEO Theodore Colbert III sold 8,500 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $238.37, for a total value of $2,026,145.00. Following the sale, the chief executive officer now directly owns 59,255 shares in the company, valued at $14,124,614.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Steven M. Mollenkopf purchased 850 shares of the stock in a transaction on Monday, July 31st. The stock was bought at an average price of $237.00 per share, for a total transaction of $201,450.00. Following 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 available at the SEC website. Also, CEO Theodore Colbert III sold 8,500 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $238.37, for a total transaction of $2,026,145.00. Following the completion of the sale, the chief executive officer now owns 59,255 shares in the company, valued at $14,124,614.35. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.
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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