Greatmark Investment Partners Inc. Sells 1,177 Shares of The Boeing Company (NYSE:BA)

Greatmark Investment Partners Inc. reduced its position in The Boeing Company (NYSE:BA - Free Report) by 49.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,200 shares of the aircraft producer's stock after selling 1,177 shares during the quarter. Greatmark Investment Partners Inc.'s holdings in Boeing were worth $205,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Boeing by 24.4% during the fourth quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer's stock worth $11,406,361,000 after purchasing an additional 12,641,715 shares in the last quarter. Geode Capital Management LLC grew its stake in Boeing by 29.5% in the 4th quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer's stock worth $2,677,170,000 after buying an additional 3,452,075 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Boeing by 33.6% in the 4th quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer's stock worth $1,151,316,000 after buying an additional 1,634,231 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in shares of Boeing during the 4th quarter valued at $568,000. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Boeing during the 4th quarter worth $526,889,000. 64.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BA. TD Securities cut Boeing to a "cautious" rating in a research note on Thursday, May 22nd. Sanford C. Bernstein upgraded Boeing from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $181.00 to $218.00 in a research report on Monday, April 28th. Morgan Stanley set a $200.00 target price on Boeing and gave the stock an "equal weight" rating in a research report on Thursday, June 12th. Melius raised Boeing from a "hold" rating to a "buy" rating in a research note on Monday, March 24th. Finally, Wells Fargo & Company reissued an "underweight" rating on shares of Boeing in a research note on Thursday, May 22nd. Four analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $216.32.

Insider Transactions at Boeing

In related news, SVP Brendan J. Nelson sold 640 shares of the 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction of $650,198.35. Following the completion of the transaction, the executive vice president owned 20,513 shares in the company, valued at approximately $4,161,472.31. This represents a 13.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,744 shares of company stock valued at $1,511,370 in the last quarter. 0.09% of the stock is owned by insiders.

Boeing Stock Up 0.3%

Shares of NYSE BA traded up $0.59 on Friday, reaching $226.68. 6,527,919 shares of the company's stock traded hands, compared to its average volume of 9,554,931. The business's 50 day simple moving average is $206.14 and its two-hundred day simple moving average is $182.98. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $230.20. The company has a market cap of $170.92 billion, a price-to-earnings ratio of -12.65 and a beta of 1.41.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, beating analysts' consensus estimates of ($1.39) by $0.90. The company had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.57 billion. During the same period last year, the business earned ($1.13) EPS. The firm's quarterly revenue was up 17.7% on a year-over-year basis. Analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal 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.