Burney Co. Decreases Stock Position in The Boeing Company (NYSE:BA)

Key Points

• Burney Co. reduced its holdings in Boeing by 17%, now owning 6,198 shares worth approximately $1.06 million.
• Analysts' ratings on Boeing stock vary widely, with four sell ratings, three hold ratings, and seventeen buy ratings, reflecting a consensus of "Moderate Buy."
• Boeing's stock is currently trading at $233.02, showing a significant 1-year high of $235.27, while the company has reported a revenue increase of 17.7% year-over-year.

Burney Co. lowered its stake in The Boeing Company (NYSE:BA - Free Report) by 17.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,198 shares of the aircraft producer's stock after selling 1,265 shares during the period. Burney Co.'s holdings in Boeing were worth $1,057,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in BA. American National Bank & Trust lifted its position 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 buying an additional 128 shares during the period. REAP Financial Group LLC lifted its position 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 buying an additional 65 shares during the period. Dogwood Wealth Management LLC lifted its position 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 buying an additional 112 shares during the period. Solstein Capital LLC purchased a new position in Boeing during the fourth quarter valued at $33,000. Finally, Heck Capital Advisors LLC purchased a new position in Boeing during the fourth quarter valued at $33,000. Institutional investors own 64.82% of the company's stock.

Boeing Price Performance

Shares of NYSE:BA traded up $0.87 during mid-day trading on Monday, reaching $233.93. 2,595,873 shares of the company traded hands, compared to its average volume of 8,508,587. The company's 50 day moving average price is $213.01 and its 200-day moving average price is $186.96. The firm has a market cap of $176.38 billion, a PE ratio of -13.05 and a beta of 1.41. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $235.65.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BA shares. Cowen reissued a "buy" rating on shares of Boeing in a research report on Wednesday, May 7th. Wall Street Zen lowered Boeing from a "hold" rating to a "sell" rating in a research report on Saturday, May 17th. Benchmark lowered their price target on Boeing from $250.00 to $215.00 and set a "buy" rating for the company in a research report on Monday, April 21st. Morgan Stanley lifted their price target on Boeing from $200.00 to $235.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Finally, Susquehanna reaffirmed a "positive" rating on shares of Boeing in a research report on Monday, July 14th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $221.55.

Insider Activity at Boeing

In other Boeing news, SVP Brendan J. Nelson sold 640 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $206.28, for a total value of $132,019.20. Following the completion of the transaction, the senior vice president directly owned 13,258 shares in the company, valued at $2,734,860.24. This represents a 4.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the company's stock in a transaction that occurred 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 transaction, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 7,744 shares of company stock worth $1,511,370. 0.09% of the stock is owned by company insiders.

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.