Amundi Lowers Stock Position in The Boeing Company $BA

Key Points

• Amundi has reduced its stake in Boeing by 35.3%, selling 552,939 shares during the first quarter, leaving it with approximately 0.13% of the company, valued at $172.66 million.
• Despite a quarterly earnings report showing a loss of ($1.24) EPS, Boeing's revenue of $22.75 billion exceeded analyst estimates, highlighting a 34.9% year-over-year increase.
• Brokerage firms remain mixed on Boeing's stock, with ratings ranging from “Strong Buy” to “Sell”, and a consensus price target set at $228.90.

Amundi trimmed its position in shares of The Boeing Company (NYSE:BA - Free Report) by 35.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,012,398 shares of the aircraft producer's stock after selling 552,939 shares during the period. Amundi owned approximately 0.13% of Boeing worth $172,664,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Boeing by 1.9% during the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock worth $11,197,468,000 after buying an additional 1,212,327 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Boeing by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer's stock valued at $715,979,000 after purchasing an additional 19,615 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Boeing by 14.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,841,432 shares of the aircraft producer's stock valued at $502,933,000 after purchasing an additional 369,306 shares in the last quarter. Zimmer Partners LP acquired a new stake in shares of Boeing in the 4th quarter valued at approximately $393,736,000. Finally, Swiss National Bank boosted its stake in shares of Boeing by 2.5% in the 1st quarter. Swiss National Bank now owns 2,110,200 shares of the aircraft producer's stock valued at $359,895,000 after purchasing an additional 51,700 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Redburn Atlantic upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating and raised their price target for the company from $180.00 to $275.00 in a research note on Friday, June 27th. KGI Securities upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. The Goldman Sachs Group set a $212.00 target price on shares of Boeing and gave the company a "buy" rating in a report on Thursday, June 12th. Wells Fargo & Company reiterated an "underweight" rating on shares of Boeing in a report on Thursday, May 22nd. Finally, Bank of America increased their price objective on shares of Boeing from $260.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Boeing currently has an average rating of "Moderate Buy" and an average target price of $230.77.

Boeing Stock Up 0.6%

BA traded up $1.28 during trading on Monday, hitting $230.89. 5,950,176 shares of the company traded hands, compared to its average volume of 8,237,823. The firm has a market cap of $174.59 billion, a P/E ratio of -13.99 and a beta of 1.48. The stock's fifty day moving average is $227.54 and its 200 day moving average is $197.88. The Boeing Company has a one year low of $128.88 and a one year high of $242.69.

Boeing (NYSE:BA - Get Free Report) last issued its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The business had revenue of $22.75 billion for the quarter, compared to analysts' expectations of $20.13 billion. The firm's revenue for the quarter was up 34.9% on a year-over-year basis. During the same period in the previous year, the company earned ($2.90) EPS. On average, equities research analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Transactions at Boeing

In other news, Director Mortimer J. Buckley purchased 2,200 shares of the stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average cost of $226.10 per share, with a total value of $497,420.00. Following the completion of the acquisition, the director owned 2,200 shares in the company, valued at $497,420. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of the sale, the executive vice president directly owned 35,873 shares in the company, valued at approximately $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company's stock.

About Boeing

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.