Sumitomo Life Insurance Co. Sells 414 Shares of The Boeing Company (NYSE:BA)

Sumitomo Life Insurance Co. lowered its stake in shares of The Boeing Company (NYSE:BA) by 4.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,970 shares of the aircraft producer’s stock after selling 414 shares during the period. Sumitomo Life Insurance Co.’s holdings in Boeing were worth $2,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of BA. Trust Co. of Vermont grew its stake in shares of Boeing by 1.0% in the 3rd quarter. Trust Co. of Vermont now owns 4,389 shares of the aircraft producer’s stock valued at $841,000 after buying an additional 45 shares during the period. Benchmark Financial Wealth Advisors LLC lifted its holdings in Boeing by 2.7% in the fourth quarter. Benchmark Financial Wealth Advisors LLC now owns 1,785 shares of the aircraft producer’s stock valued at $465,000 after acquiring an additional 47 shares during the last quarter. Waverly Advisors LLC grew its position in Boeing by 0.6% in the fourth quarter. Waverly Advisors LLC now owns 8,015 shares of the aircraft producer’s stock worth $1,527,000 after acquiring an additional 49 shares during the period. WealthPlan Investment Management LLC increased its stake in Boeing by 1.0% during the fourth quarter. WealthPlan Investment Management LLC now owns 4,716 shares of the aircraft producer’s stock worth $1,229,000 after acquiring an additional 49 shares during the last quarter. Finally, RB Capital Management LLC raised its position in Boeing by 2.7% in the third quarter. RB Capital Management LLC now owns 1,893 shares of the aircraft producer’s stock valued at $363,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Down 2.2 %

NYSE:BA opened at $169.55 on Monday. The Boeing Company has a 1 year low of $169.37 and a 1 year high of $267.54. The stock has a 50-day simple moving average of $194.23 and a 200-day simple moving average of $208.11.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.25. The company had revenue of $22.02 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter in the prior year, the firm posted ($1.75) EPS. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities analysts expect that The Boeing Company will post 0.37 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BA. Sanford C. Bernstein lowered their price target on Boeing from $272.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, April 8th. JPMorgan Chase & Co. lowered their target price on shares of Boeing from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Friday. Morgan Stanley reduced their price target on shares of Boeing from $235.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 10th. Melius Research reaffirmed a “hold” rating on shares of Boeing in a research report on Monday, April 1st. Finally, Edward Jones lowered Boeing from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $236.53.

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.