Oak Thistle LLC Trims Stock Position in The Boeing Company (NYSE:BA)

Key Points

• Oak Thistle LLC significantly reduced its holdings in The Boeing Company by 70.7% during Q1, ending with 2,502 shares valued at approximately $427,000.
• Several institutional investors adjusted their positions in Boeing, with Geode Capital Management increasing its stake by 29.5% in Q4, now owning over 15 million shares worth nearly $2.68 billion.
• The consensus rating for Boeing stock is classified as a "Moderate Buy", with an average price target set at $221.55, while the stock recently traded at $233.02.

Oak Thistle LLC trimmed its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 70.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,502 shares of the aircraft producer's stock after selling 6,040 shares during the period. Oak Thistle LLC's holdings in Boeing were worth $427,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Wood Tarver Financial Group LLC grew its holdings in shares of Boeing by 14.3% in the first quarter. Wood Tarver Financial Group LLC now owns 439 shares of the aircraft producer's stock valued at $75,000 after purchasing an additional 55 shares in the last quarter. Byrne Financial Freedom LLC grew its stake in shares of Boeing by 3.0% in the 1st quarter. Byrne Financial Freedom LLC now owns 1,993 shares of the aircraft producer's stock worth $340,000 after buying an additional 58 shares in the last quarter. HighPoint Advisor Group LLC grew its stake in shares of Boeing by 0.3% in the 1st quarter. HighPoint Advisor Group LLC now owns 19,657 shares of the aircraft producer's stock worth $3,578,000 after buying an additional 58 shares in the last quarter. Trek Financial LLC grew its stake in shares of Boeing by 2.7% in the 4th quarter. Trek Financial LLC now owns 2,307 shares of the aircraft producer's stock worth $408,000 after buying an additional 60 shares in the last quarter. Finally, Colonial Trust Co SC grew its stake in shares of Boeing by 6.1% in the 4th quarter. Colonial Trust Co SC now owns 1,042 shares of the aircraft producer's stock worth $184,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company's stock.

Insider Activity

In related news, EVP David Christopher Raymond sold 3,899 shares of the 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 completion of the transaction, the executive vice president directly owned 42,513 shares of the company's stock, valued at $7,950,356.13. This trade represents a 8.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Brendan J. Nelson sold 640 shares of the 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 directly owned 13,258 shares of the company's stock, valued at $2,734,860.24. The trade was a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,744 shares of company stock worth $1,511,370. Insiders own 0.09% of the company's stock.

Boeing Stock Performance

Boeing stock traded down $8.37 during mid-day trading on Tuesday, reaching $228.05. 10,729,561 shares of the company were exchanged, compared to its average volume of 8,550,876. The business has a fifty day moving average of $213.63 and a 200 day moving average of $187.41. The firm has a market cap of $171.95 billion, a P/E ratio of -12.72 and a beta of 1.41. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $242.69.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.32). During the same quarter last year, the firm earned ($2.90) EPS. The firm's revenue was up 34.9% on a year-over-year basis. Sell-side analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on BA. Sanford C. Bernstein reiterated an "outperform" rating on shares of Boeing in a research report on Monday, July 14th. Wall Street Zen cut Boeing from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. Bank of America upgraded Boeing from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $185.00 to $260.00 in a report on Monday, June 2nd. TD Securities lowered shares of Boeing to a "cautious" rating in a research note on Thursday, May 22nd. Finally, Citigroup reaffirmed a "buy" rating on shares of Boeing in a research note on Monday. Four investment analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $221.55.

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.