Natixis Advisors LLC Lowers Holdings in The Boeing Company (NYSE:BA)

Key Points

• Natixis Advisors LLC reduced its holdings in Boeing by 3.9%, selling 61,100 shares to hold 1,499,207 shares, valued at approximately $255.69 million.
• Boeing reported earnings of ($1.24) per share, missing estimates, but saw a revenue increase of 34.9% year-over-year, reaching $22.75 billion.
• Several hedge funds increased their stakes in Boeing, with Wellington Shields & Co. raising their holdings by 23.1% in the first quarter.

Natixis Advisors LLC lessened its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 3.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,499,207 shares of the aircraft producer's stock after selling 61,100 shares during the quarter. Natixis Advisors LLC owned about 0.20% of Boeing worth $255,690,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in BA. Revolve Wealth Partners LLC purchased a new position in Boeing in the fourth quarter valued at approximately $201,000. Bank Pictet & Cie Europe AG purchased a new position in shares of Boeing during the fourth quarter worth approximately $7,837,000. Allianz SE purchased a new position in shares of Boeing during the fourth quarter worth approximately $166,000. Schroder Investment Management Group grew its position in shares of Boeing by 3.0% during the fourth quarter. Schroder Investment Management Group now owns 63,105 shares of the aircraft producer's stock worth $11,141,000 after acquiring an additional 1,853 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its position in shares of Boeing by 9.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 51,983 shares of the aircraft producer's stock worth $8,929,000 after acquiring an additional 4,436 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company's stock.

Boeing Stock Performance

Boeing stock traded down $2.50 during midday trading on Friday, reaching $219.34. 1,998,398 shares of the company were exchanged, compared to its average volume of 8,577,467. The company has a market capitalization of $165.86 billion, a price-to-earnings ratio of -13.27 and a beta of 1.41. The firm's 50-day simple moving average is $214.84 and its 200-day simple moving average is $188.30. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The company had revenue of $22.75 billion during the quarter, compared to analysts' expectations of $20.13 billion. The company's quarterly revenue was up 34.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($2.90) EPS. On average, analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Benchmark lowered their target price on shares of Boeing from $250.00 to $215.00 and set a "buy" rating on the stock in a research report on Monday, April 21st. Bank of America increased their price target on Boeing from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Friday. Wells Fargo & Company reaffirmed an "underweight" rating on shares of Boeing in a report on Thursday, May 22nd. Wall Street Zen downgraded Boeing from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. Finally, JPMorgan Chase & Co. increased their price target on Boeing from $230.00 to $251.00 and gave the stock an "overweight" rating in a report on Wednesday. Three analysts have rated the stock with a sell rating, three have assigned a hold rating, eighteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, Boeing presently has a consensus rating of "Moderate Buy" and an average price target of $229.18.

Insider Transactions at Boeing

In other Boeing news, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total value of $650,198.35. Following the completion of the sale, the executive vice president owned 20,513 shares in the company, valued at $4,161,472.31. The trade was a 13.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction dated 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 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. Company insiders own 0.09% of the company's stock.

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.