Highland Capital Management LLC Reduces Stock Holdings in The Boeing Company (NYSE:BA)

Highland Capital Management LLC trimmed its stake in The Boeing Company (NYSE:BA - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,095 shares of the aircraft producer's stock after selling 1,616 shares during the period. Highland Capital Management LLC's holdings in Boeing were worth $8,373,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Revolve Wealth Partners LLC bought a new position in shares of Boeing in the fourth quarter worth approximately $201,000. Bank Pictet & Cie Europe AG purchased a new position in shares of Boeing in the fourth quarter worth $7,837,000. Advisor OS LLC lifted its holdings in shares of Boeing by 3.1% in the fourth quarter. Advisor OS LLC now owns 2,277 shares of the aircraft producer's stock worth $403,000 after buying an additional 68 shares in the last quarter. Cable Hill Partners LLC purchased a new position in shares of Boeing in the fourth quarter worth $223,000. Finally, Kovack Advisors Inc. lifted its holdings in shares of Boeing by 11.1% in the fourth quarter. Kovack Advisors Inc. now owns 6,858 shares of the aircraft producer's stock worth $1,214,000 after buying an additional 687 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Boeing

In related news, EVP David Christopher Raymond sold 3,899 shares of Boeing stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $187.01, for a total value of $729,151.99. Following the sale, the executive vice president now owns 42,513 shares of the company's stock, valued at approximately $7,950,356.13. This trade represents a 8.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction on Tuesday, May 13th. The shares were 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 directly owns 20,513 shares in the company, valued at $4,161,472.31. This represents a 13.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,744 shares of company stock valued at $1,511,370 in the last three months. 0.09% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on BA shares. UBS Group boosted their target price on shares of Boeing from $207.00 to $226.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Wall Street Zen downgraded shares of Boeing from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. TD Securities downgraded shares of Boeing to a "cautious" rating in a report on Thursday, May 22nd. Sanford C. Bernstein raised shares of Boeing from a "market perform" rating to an "outperform" rating and upped their price target for the company from $181.00 to $218.00 in a research note on Monday, April 28th. Finally, Susquehanna reaffirmed a "positive" rating and set a $240.00 price target (up previously from $205.00) on shares of Boeing in a research note on Wednesday, May 14th. Four equities 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $215.77.

Boeing Price Performance

Shares of BA stock traded up $11.98 during mid-day trading on Friday, hitting $214.56. 14,787,018 shares of the stock traded hands, compared to its average volume of 9,457,877. The stock has a market cap of $161.78 billion, a P/E ratio of -11.97 and a beta of 1.43. The stock's fifty day moving average is $197.85 and its two-hundred day moving average is $179.88. 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 quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, beating the consensus estimate of ($1.39) by $0.90. The firm had revenue of $19.50 billion for the quarter, compared to analysts' expectations of $19.57 billion. The business's quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.13) earnings per share. As a group, equities analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Boeing 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.