The Boeing Company (NYSE:BA) Stake Cut by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. lessened its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 11.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,843 shares of the aircraft producer's stock after selling 2,094 shares during the quarter. B. Riley Wealth Advisors Inc.'s holdings in Boeing were worth $2,981,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BA. Amundi raised its holdings in Boeing by 473.6% in the fourth quarter. Amundi now owns 1,565,337 shares of the aircraft producer's stock worth $268,862,000 after purchasing an additional 1,292,417 shares in the last quarter. KKM Financial LLC raised its holdings in Boeing by 50.8% in the fourth quarter. KKM Financial LLC now owns 15,368 shares of the aircraft producer's stock worth $2,720,000 after purchasing an additional 5,175 shares in the last quarter. Grant Private Wealth Management Inc bought a new position in shares of Boeing during the fourth quarter valued at $903,000. Tandem Capital Management Corp ADV increased its holdings in shares of Boeing by 65.2% during the fourth quarter. Tandem Capital Management Corp ADV now owns 13,815 shares of the aircraft producer's stock valued at $2,445,000 after acquiring an additional 5,451 shares in the last quarter. Finally, Winslow Asset Management Inc. increased its holdings in shares of Boeing by 8.2% during the fourth quarter. Winslow Asset Management Inc. now owns 40,761 shares of the aircraft producer's stock valued at $7,215,000 after acquiring an additional 3,096 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company's stock.

Wall Street Analyst Weigh In

BA has been the subject of several research analyst reports. Melius Research set a $204.00 price objective on Boeing in a report on Monday, March 24th. Benchmark dropped their target price on Boeing from $250.00 to $215.00 and set a "buy" rating on the stock in a research report on Monday, April 21st. UBS Group lifted their price objective on Boeing from $207.00 to $226.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Wall Street Zen cut Boeing from a "hold" rating to a "sell" rating in a research report on Saturday, May 17th. Finally, Susquehanna reaffirmed a "positive" rating and issued a $240.00 price objective (up previously from $205.00) on shares of Boeing in a research note on Wednesday, May 14th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $204.35.

Insider Activity at Boeing

In related news, EVP Jeffrey S. Shockey sold 3,205 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $4,161,472.31. The trade was a 13.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Brendan J. Nelson sold 640 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $206.28, for a total transaction of $132,019.20. Following the transaction, the senior vice president now directly owns 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. Insiders have sold a total of 7,744 shares of company stock worth $1,511,370 in the last three months. Insiders own 0.09% of the company's stock.

Boeing Stock Performance

BA stock traded up $6.66 during midday trading on Thursday, reaching $208.16. 11,604,502 shares of the company were exchanged, compared to its average volume of 9,168,541. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $212.15. The stock's 50-day simple moving average is $177.81 and its 200 day simple moving average is $171.40. The company has a market cap of $156.95 billion, a price-to-earnings ratio of -11.37 and a beta of 1.41.

Boeing (NYSE:BA - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS 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. During the same period in the previous year, the firm earned ($1.13) earnings per share. The business's revenue was up 17.7% compared to the same quarter last year. On average, research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

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.