The Boeing Company $BA Position Reduced by Northern Trust Corp

Key Points

• Northern Trust Corp has reduced its position in Boeing by 0.5%, owning approximately 6.47 million shares now worth over $1 billion.
• Boeing's most recent earnings report revealed a loss of ($1.24) EPS, which missed analysts' expectations, although revenue surged 34.9% year-over-year.
• Institutional investors now hold about 64.82% of Boeing's stock, with multiple firms increasing their stakes during the last quarter.

Northern Trust Corp reduced its position in shares of The Boeing Company (NYSE:BA - Free Report) by 0.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,470,198 shares of the aircraft producer's stock after selling 34,412 shares during the quarter. Northern Trust Corp owned about 0.86% of Boeing worth $1,103,492,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Revolve Wealth Partners LLC bought a new stake in shares of Boeing in the 4th quarter valued at approximately $201,000. Bank Pictet & Cie Europe AG bought a new position in Boeing during the fourth quarter worth $7,837,000. First Trust Advisors LP raised its position in shares of Boeing by 33.8% during the fourth quarter. First Trust Advisors LP now owns 140,578 shares of the aircraft producer's stock valued at $24,882,000 after buying an additional 35,524 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Boeing by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,275,394 shares of the aircraft producer's stock valued at $225,745,000 after acquiring an additional 39,661 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Boeing in the 4th quarter valued at approximately $5,157,000. Institutional investors and hedge funds own 64.82% of the company's stock.

Insider Activity at Boeing

In related news, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of the sale, the executive vice president directly owned 35,873 shares of the company's stock, valued at approximately $8,248,637.62. This trade represents a 9.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.09% of the company's stock.

Boeing Price Performance

Shares of Boeing stock opened at $235.31 on Monday. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The company has a market capitalization of $177.93 billion, a price-to-earnings ratio of -14.25 and a beta of 1.48. The business has a fifty day simple moving average of $219.45 and a two-hundred day simple moving average of $192.71.

Boeing (NYSE:BA - Get Free Report) last announced its 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). The company had revenue of $22.75 billion for the quarter, compared to analyst estimates of $20.13 billion. The business's revenue for the quarter was up 34.9% compared to the same quarter last year. During the same period last year, the firm earned ($2.90) earnings per share. As a group, equities analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $250.00 price target on shares of Boeing in a report on Wednesday, July 30th. KGI Securities upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. UBS Group set a $280.00 price objective on shares of Boeing and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Wells Fargo & Company reiterated an "underweight" rating on shares of Boeing in a report on Thursday, May 22nd. Finally, Redburn Atlantic upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating and raised their target price for the stock from $180.00 to $275.00 in a report on Friday, June 27th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $228.90.

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.

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