The Boeing Company (NYSE:BA) Shares Sold by Equitable Trust Co.

Key Points

• Equitable Trust Co. has reduced its holdings in Boeing shares by 6.2%, now owning 26,452 shares valued at approximately $4.51 million.
• In Q1, American National Bank & Trust increased its Boeing shares by 474.1%, while other investors also adjusted their stakes, with institutional investors now owning 64.82% of the stock.
• Boeing reported a quarterly EPS of (\$0.49), exceeding analysts' expectations, and had revenues of $19.50 billion, up 17.7% year-over-year.

Equitable Trust Co. cut its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 6.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,452 shares of the aircraft producer's stock after selling 1,746 shares during the period. Equitable Trust Co.'s holdings in Boeing were worth $4,511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BA. American National Bank & Trust raised its position in shares of Boeing by 474.1% in the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock worth $26,000 after acquiring an additional 128 shares during the period. REAP Financial Group LLC raised its position in shares of Boeing by 60.2% in the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock worth $31,000 after acquiring an additional 65 shares during the period. Dogwood Wealth Management LLC raised its position in shares of Boeing by 167.2% in the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock worth $32,000 after acquiring an additional 112 shares during the period. Solstein Capital LLC acquired a new position in shares of Boeing in the fourth quarter worth about $33,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Boeing in the fourth quarter worth about $33,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Price Performance

Shares of NYSE BA opened at $231.28 on Friday. The company has a 50 day simple moving average of $212.47 and a 200-day simple moving average of $186.33. The company has a market capitalization of $174.39 billion, a P/E ratio of -12.91 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.

Boeing (NYSE:BA - Get Free Report) last announced 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 analyst estimates of $19.57 billion. The firm's quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.13) EPS. As a group, research analysts expect that The Boeing Company will post -2.58 EPS for the current year.

Insider Activity

In other news, SVP Brendan J. Nelson sold 640 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the transaction, the senior vice president directly owned 13,258 shares in the company, valued at approximately $2,734,860.24. This represents a 4.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP David Christopher Raymond sold 3,899 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total transaction of $729,151.99. Following the completion of the transaction, the executive vice president owned 42,513 shares in the company, valued at approximately $7,950,356.13. This represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,744 shares of company stock valued at $1,511,370. Company insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

BA has been the subject of a number of analyst reports. UBS Group boosted their target price on shares of Boeing from $207.00 to $226.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Royal Bank Of Canada reissued a "cautious" rating on shares of Boeing in a research note on Thursday, June 12th. Sanford C. Bernstein reissued an "outperform" rating on shares of Boeing in a research note on Monday, July 14th. Wall Street Zen cut shares of Boeing from a "hold" rating to a "sell" rating in a research note on Saturday, May 17th. Finally, Bank of America raised shares of Boeing from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $185.00 to $260.00 in a research note on Monday, June 2nd. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Boeing has a consensus rating of "Moderate Buy" and a consensus target price of $221.55.

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.

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