K.J. Harrison & Partners Inc Decreases Stock Position in The Boeing Company (NYSE:BA)

K.J. Harrison & Partners Inc trimmed its position in The Boeing Company (NYSE:BA - Free Report) by 57.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,000 shares of the aircraft producer's stock after selling 12,000 shares during the period. K.J. Harrison & Partners Inc's holdings in Boeing were worth $1,535,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BA. Revolve Wealth Partners LLC purchased a new stake in Boeing in the fourth quarter worth $201,000. Bank Pictet & Cie Europe AG purchased a new stake in shares of Boeing in the fourth quarter worth $7,837,000. Mutual of America Capital Management LLC grew its stake in shares of Boeing by 24.2% in the fourth quarter. Mutual of America Capital Management LLC now owns 89,430 shares of the aircraft producer's stock worth $15,829,000 after acquiring an additional 17,448 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of Boeing in the fourth quarter worth $2,052,000. Finally, Cobblestone Capital Advisors LLC NY grew its stake in shares of Boeing by 4.9% in the fourth quarter. Cobblestone Capital Advisors LLC NY now owns 6,380 shares of the aircraft producer's stock worth $1,129,000 after acquiring an additional 300 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Trading Up 5.9%

Shares of BA traded up $11.98 during midday trading on Friday, reaching $214.56. 14,787,018 shares of the stock were exchanged, compared to its average volume of 9,472,166. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $218.80. The company's 50 day moving average is $197.85 and its two-hundred day moving average is $179.98. The company has a market capitalization of $161.78 billion, a P/E ratio of -11.97 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) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.39) by $0.90. The firm had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.57 billion. During the same period in the previous year, the company posted ($1.13) EPS. Boeing's quarterly revenue was up 17.7% compared to the same quarter last year. On average, sell-side analysts expect that The Boeing Company will post -2.58 EPS for the current year.

Insider Transactions at Boeing

In related news, SVP Brendan J. Nelson sold 640 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $206.28, for a total transaction of $132,019.20. Following the sale, the senior vice president now owns 13,258 shares of the company's stock, valued at $2,734,860.24. This trade represents a 4.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the sale, the executive vice president now directly owns 20,513 shares in the company, valued at approximately $4,161,472.31. The trade was a 13.51% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,744 shares of company stock valued at $1,511,370. 0.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BA shares. Benchmark cut their target price on Boeing from $250.00 to $215.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. Jefferies Financial Group upped their price target on Boeing from $230.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Susquehanna reaffirmed a "positive" rating and set a $240.00 price target (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 report on Monday, March 24th. Finally, Wall Street Zen downgraded Boeing from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. Four analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $215.77.

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.