Absher Wealth Management LLC Raises Stake in The Boeing Company (NYSE:BA)

Absher Wealth Management LLC increased its position in shares of The Boeing Company (NYSE:BA - Free Report) by 4.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 96,747 shares of the aircraft producer's stock after buying an additional 4,195 shares during the period. Boeing accounts for 2.2% of Absher Wealth Management LLC's holdings, making the stock its 27th biggest position. Absher Wealth Management LLC's holdings in Boeing were worth $16,500,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. American National Bank & Trust lifted its holdings in Boeing by 474.1% during the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock valued at $26,000 after purchasing an additional 128 shares in the last quarter. REAP Financial Group LLC lifted its holdings in Boeing by 60.2% during the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock valued at $31,000 after purchasing an additional 65 shares in the last quarter. Anfield Capital Management LLC lifted its holdings in Boeing by 113.1% during the fourth quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer's stock valued at $32,000 after purchasing an additional 95 shares in the last quarter. Dogwood Wealth Management LLC lifted its holdings in Boeing by 167.2% during the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock valued at $32,000 after purchasing an additional 112 shares in the last quarter. Finally, Solstein Capital LLC purchased a new position in Boeing during the fourth quarter valued at $33,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Boeing

In related news, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the completion of the transaction, the executive vice president now owns 20,513 shares in the company, valued at $4,161,472.31. The trade was a 13.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Christopher Raymond sold 3,899 shares of Boeing stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total transaction of $729,151.99. Following the completion of the transaction, the executive vice president now owns 42,513 shares of the company's stock, valued at $7,950,356.13. This represents a 8.40% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,744 shares of company stock worth $1,511,370. Corporate insiders own 0.09% of the company's stock.

Boeing Stock Up 1.3%

Shares of BA traded up $2.63 during trading on Monday, reaching $201.38. 5,849,156 shares of the company traded hands, compared to its average volume of 9,447,211. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $218.80. The stock has a market cap of $151.84 billion, a PE ratio of -11.24 and a beta of 1.43. The stock has a 50-day simple moving average of $193.38 and a 200-day simple moving average of $178.60.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, beating analysts' consensus estimates of ($1.39) by $0.90. The business had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.57 billion. The company's revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter last year, the firm posted ($1.13) EPS. On average, equities research analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on BA. Melius Research set a $204.00 price objective on shares of Boeing in a report on Monday, March 24th. Cowen reissued a "buy" rating on shares of Boeing in a research note on Wednesday, May 7th. Melius raised shares of Boeing from a "hold" rating to a "buy" rating in a research note on Monday, March 24th. Wall Street Zen downgraded shares of Boeing from a "hold" rating to a "sell" rating in a research note on Saturday, May 17th. Finally, Jefferies Financial Group raised their price target on shares of Boeing from $230.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Four analysts have rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Boeing currently has an average rating of "Moderate Buy" and a consensus target price of $209.85.

Boeing 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.