The Boeing Company (NYSE:BA) Shares Sold by Lewis Asset Management LLC

Lewis Asset Management LLC trimmed its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 40.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,028 shares of the aircraft producer's stock after selling 1,375 shares during the period. Lewis Asset Management LLC's holdings in Boeing were worth $346,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in BA. Vanguard Group Inc. increased its stake in shares of Boeing by 24.4% in the 4th quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer's stock valued at $11,406,361,000 after buying an additional 12,641,715 shares during the period. Geode Capital Management LLC grew its stake in shares of Boeing by 29.5% during the fourth quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer's stock worth $2,677,170,000 after purchasing an additional 3,452,075 shares during the period. Castlekeep Investment Advisors LLC acquired a new stake in shares of Boeing during the fourth quarter worth $568,000. Alyeska Investment Group L.P. acquired a new stake in shares of Boeing during the fourth quarter worth $526,889,000. Finally, Zimmer Partners LP acquired a new stake in shares of Boeing during the fourth quarter worth $393,736,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Trading Down 0.1%

Shares of NYSE BA traded down $0.12 during midday trading on Thursday, reaching $233.76. The company had a trading volume of 2,017,723 shares, compared to its average volume of 8,549,616. The stock has a market cap of $176.26 billion, a P/E ratio of -13.04 and a beta of 1.41. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $235.27. The business's 50-day simple moving average is $211.97 and its 200 day simple moving average is $185.92.

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 analyst estimates of $19.57 billion. The firm's quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.13) EPS. Analysts predict that The Boeing Company will post -2.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BA. Citigroup lifted their price objective on Boeing from $220.00 to $270.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. 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. Cowen reaffirmed a "buy" rating on shares of Boeing in a research note on Wednesday, May 7th. Morgan Stanley lifted their target price on Boeing from $200.00 to $235.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Finally, Jefferies Financial Group boosted 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. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Boeing has a consensus rating of "Moderate Buy" and an average price target of $221.55.

Insider Activity

In other 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 value of $729,151.99. Following the sale, the executive vice president directly owned 42,513 shares of the company's stock, valued at approximately $7,950,356.13. The trade was a 8.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total transaction of $132,019.20. Following the completion of the transaction, the senior vice president owned 13,258 shares of the company's stock, valued at $2,734,860.24. This trade represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,744 shares of company stock worth $1,511,370 over the last 90 days. 0.09% of the stock is currently owned by company insiders.

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.