IFM Investors Pty Ltd Sells 3,375 Shares of The Boeing Company (NYSE:BA)

IFM Investors Pty Ltd lowered its position in shares of The Boeing Company (NYSE:BA - Free Report) by 12.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,856 shares of the aircraft producer's stock after selling 3,375 shares during the quarter. IFM Investors Pty Ltd's holdings in Boeing were worth $4,069,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Revolve Wealth Partners LLC acquired a new stake in shares of Boeing during the fourth quarter worth $201,000. Bank Pictet & Cie Europe AG acquired a new stake in shares of Boeing during the fourth quarter worth $7,837,000. Assetmark Inc. grew its stake in shares of Boeing by 92.4% during the fourth quarter. Assetmark Inc. now owns 2,034 shares of the aircraft producer's stock worth $360,000 after purchasing an additional 977 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Boeing during the fourth quarter worth $293,000. Finally, E Fund Management Co. Ltd. acquired a new stake in shares of Boeing during the fourth quarter worth $321,000. Institutional investors own 64.82% of the company's stock.

Boeing Stock Performance

NYSE BA traded down $3.19 during trading hours on Tuesday, hitting $215.44. 1,716,304 shares of the company traded hands, compared to its average volume of 8,632,039. The business's 50-day moving average is $202.86 and its 200-day moving average is $181.73. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $220.00. The stock has a market capitalization of $162.44 billion, a price-to-earnings ratio of -12.02 and a beta of 1.41.

Boeing (NYSE:BA - Get Free Report) last issued 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 company had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.57 billion. During the same period last year, the company posted ($1.13) earnings per share. The business's revenue for the quarter was up 17.7% on a year-over-year basis. Analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Analysts Set New Price Targets

BA has been the subject of a number of analyst reports. Bank of America raised Boeing from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $185.00 to $260.00 in a research note on Monday, June 2nd. The Goldman Sachs Group set a $212.00 target price on Boeing and gave the company a "buy" rating in a research note on Thursday, June 12th. Redburn Atlantic raised Boeing from a "hold" rating to a "strong-buy" rating and boosted their target price for the company from $180.00 to $275.00 in a research note on Friday, June 27th. Melius raised Boeing from a "hold" rating to a "buy" rating in a research note on Monday, March 24th. Finally, Citigroup reissued a "buy" 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 assigned a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Boeing has a consensus rating of "Moderate Buy" and an average price target of $215.77.

Insider Activity at Boeing

In other Boeing news, EVP David Christopher Raymond sold 3,899 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total value of $729,151.99. Following the sale, the executive vice president owned 42,513 shares in the company, valued at $7,950,356.13. This represents a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Brendan J. Nelson sold 640 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the completion of the sale, the senior vice president owned 13,258 shares in the company, 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 ninety days, insiders sold 7,744 shares of company stock valued at $1,511,370. Insiders own 0.09% of the company's stock.

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.