Associated Banc Corp Reduces Holdings in The Boeing Company (NYSE:BA)

Associated Banc Corp trimmed its position in shares of The Boeing Company (NYSE:BA - Free Report) by 21.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,940 shares of the aircraft producer's stock after selling 5,859 shares during the quarter. Associated Banc Corp's holdings in Boeing were worth $3,742,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. American National Bank & Trust increased its position in shares of Boeing by 474.1% during the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock worth $26,000 after purchasing an additional 128 shares in the last quarter. REAP Financial Group LLC boosted its stake in Boeing by 60.2% during the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock worth $31,000 after buying an additional 65 shares during the last quarter. Dogwood Wealth Management LLC boosted its stake in Boeing by 167.2% during the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock worth $32,000 after buying an additional 112 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in Boeing during the fourth quarter worth $33,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in Boeing by 122.1% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 191 shares of the aircraft producer's stock worth $34,000 after buying an additional 105 shares during the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BA shares. Redburn Atlantic raised Boeing from a "hold" rating to a "strong-buy" rating and boosted their price objective for the stock from $180.00 to $275.00 in a research note on Friday, June 27th. KGI Securities raised Boeing from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. TD Securities lowered Boeing to a "cautious" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. upped their price target on Boeing from $230.00 to $251.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Finally, UBS Group set a $280.00 price target on Boeing and gave the company a "buy" rating in a research note on Wednesday, July 30th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $228.90.

Boeing Price Performance

NYSE BA opened at $224.62 on Wednesday. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $242.69. The company has a market capitalization of $169.85 billion, a P/E ratio of -13.61 and a beta of 1.48. The business has a 50 day moving average price of $216.09 and a 200 day moving average price of $189.57.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The company had revenue of $22.75 billion during the quarter, compared to analysts' expectations of $20.13 billion. During the same period in the prior year, the firm earned ($2.90) earnings per share. Boeing's quarterly revenue was up 34.9% compared to the same quarter last year. On average, research analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Boeing

In other news, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total value of $650,198.35. Following the completion of the sale, the executive vice president owned 20,513 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the completion of the sale, the senior vice president directly owned 13,258 shares of the company's stock, valued at approximately $2,734,860.24. This represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Company 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.

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