Hartford Financial Management Inc. Cuts Stock Holdings in The Boeing Company (NYSE:BA)

Hartford Financial Management Inc. decreased its holdings in The Boeing Company (NYSE:BA - Free Report) by 53.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,852 shares of the aircraft producer's stock after selling 5,649 shares during the quarter. Hartford Financial Management Inc.'s holdings in Boeing were worth $828,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in BA. Sierra Ocean LLC purchased a new stake in shares of Boeing in the fourth quarter valued at about $26,000. American National Bank & Trust grew its position in Boeing by 474.1% in the 1st 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 increased its stake in Boeing by 60.2% in the 4th 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 last quarter. Anfield Capital Management LLC increased its stake in Boeing by 113.1% in the 4th quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer's stock valued at $32,000 after buying an additional 95 shares during the last quarter. Finally, Dogwood Wealth Management LLC lifted its position in shares of Boeing by 167.2% during the 4th quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock worth $32,000 after buying an additional 112 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on BA. The Goldman Sachs Group set a $212.00 target price on Boeing and gave the company a "buy" rating in a report on Thursday, June 12th. Melius raised Boeing from a "hold" rating to a "buy" rating in a research report on Monday, March 24th. Susquehanna reaffirmed a "positive" rating and set a $240.00 target price (up from $205.00) on shares of Boeing in a research report on Wednesday, May 14th. Morgan Stanley set a $200.00 target price on Boeing and gave the stock an "equal weight" rating in a research note on Thursday, June 12th. Finally, Wells Fargo & Company restated an "underweight" rating on shares of Boeing in a research report on Thursday, May 22nd. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $209.85.

Insiders Place Their Bets

In related news, EVP David Christopher Raymond sold 3,899 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $187.01, for a total transaction of $729,151.99. Following the completion of the transaction, the executive vice president now owns 42,513 shares of the company's stock, valued at approximately $7,950,356.13. The trade was a 8.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the 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 sale, the executive vice president now owns 20,513 shares in the company, valued at $4,161,472.31. This represents a 13.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,744 shares of company stock worth $1,511,370 in the last quarter. 0.09% of the stock is owned by company insiders.

Boeing Stock Performance

Boeing stock traded down $2.64 during mid-day trading on Thursday, reaching $197.62. The company's stock had a trading volume of 7,910,147 shares, compared to its average volume of 9,444,273. The firm's fifty day moving average price is $191.71 and its two-hundred day moving average price is $177.73. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $218.80. The company has a market capitalization of $149.01 billion, a P/E ratio of -11.03 and a beta of 1.43.

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

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.