Envestnet Portfolio Solutions Inc. Lowers Position in The Boeing Company (NYSE:BA)

Envestnet Portfolio Solutions Inc. lowered its holdings in The Boeing Company (NYSE:BA - Free Report) by 10.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,724 shares of the aircraft producer's stock after selling 2,472 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Boeing were worth $3,705,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BA. Vanguard Group Inc. raised its holdings in shares of Boeing by 24.4% during the 4th quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer's stock valued at $11,406,361,000 after buying an additional 12,641,715 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Boeing by 29.5% during the 4th quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer's stock valued at $2,677,170,000 after buying an additional 3,452,075 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new position in shares of Boeing during the 4th quarter valued at about $568,000. Alyeska Investment Group L.P. purchased a new position in shares of Boeing during the 4th quarter valued at about $526,889,000. Finally, Zimmer Partners LP purchased a new position in shares of Boeing during the 4th quarter valued at about $393,736,000. Hedge funds and other institutional investors own 64.82% of the company's stock.

Insider Buying and Selling at Boeing

In other Boeing 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 transaction of $650,198.35. Following the completion of the transaction, the executive vice president now owns 20,513 shares in the company, valued at approximately $4,161,472.31. The trade was a 13.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Brendan J. Nelson sold 640 shares of the business's stock in a transaction 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 now owns 13,258 shares of the company's stock, valued at $2,734,860.24. This represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,744 shares of company stock worth $1,511,370. 0.09% of the stock is owned by insiders.

Boeing Stock Up 0.4%

BA opened at $198.41 on Friday. The stock has a market cap of $149.60 billion, a PE ratio of -11.07 and a beta of 1.43. The business has a 50 day moving average of $193.38 and a 200-day moving average of $178.45. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $218.80.

Boeing (NYSE:BA - Get Free Report) last released 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 firm had revenue of $19.50 billion during the quarter, compared to analysts' expectations of $19.57 billion. The company's revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.13) EPS. Equities analysts anticipate that The Boeing Company will post -2.58 EPS for the current year.

Analyst Ratings Changes

BA has been the topic of a number of research reports. Susquehanna reissued a "positive" rating and set a $240.00 price objective (up from $205.00) on shares of Boeing in a report on Wednesday, May 14th. Melius Research set a $204.00 price target on Boeing in a research report on Monday, March 24th. Morgan Stanley set a $200.00 price target on Boeing and gave the stock an "equal weight" rating in a research report on Thursday, June 12th. Wall Street Zen lowered Boeing from a "hold" rating to a "sell" rating in a research report on Saturday, May 17th. Finally, Bank of America upgraded Boeing from a "neutral" rating to a "buy" rating and raised their price target for the stock from $185.00 to $260.00 in a research report on Monday, June 2nd. Four research analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $209.85.

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.

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