Shell Asset Management Co. Cuts Stock Position in The Boeing Company (NYSE:BA)

Shell Asset Management Co. lowered its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 73.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,306 shares of the aircraft producer's stock after selling 3,547 shares during the period. Shell Asset Management Co.'s holdings in Boeing were worth $231,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Rafferty Asset Management LLC boosted its position in shares of Boeing by 104.5% during the 4th quarter. Rafferty Asset Management LLC now owns 169,485 shares of the aircraft producer's stock worth $29,999,000 after purchasing an additional 86,612 shares in the last quarter. Ratan Capital Management LP acquired a new stake in Boeing in the fourth quarter valued at approximately $20,614,000. Prentice Capital Management LP bought a new stake in shares of Boeing during the fourth quarter valued at approximately $5,129,000. ProShare Advisors LLC lifted its holdings in shares of Boeing by 47.7% in the 4th quarter. ProShare Advisors LLC now owns 256,415 shares of the aircraft producer's stock worth $45,385,000 after purchasing an additional 82,832 shares in the last quarter. Finally, Quantinno Capital Management LP grew its position in Boeing by 175.6% in the 4th quarter. Quantinno Capital Management LP now owns 68,973 shares of the aircraft producer's stock valued at $12,208,000 after purchasing an additional 43,945 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Performance

Boeing stock traded up $0.18 during mid-day trading on Thursday, reaching $203.39. The company's stock had a trading volume of 3,629,160 shares, compared to its average volume of 9,196,751. The company has a market capitalization of $153.36 billion, a P/E ratio of -11.10 and a beta of 1.41. The firm's fifty day moving average price is $174.53 and its two-hundred day moving average price is $169.64. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $209.66.

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 for the quarter, beating the consensus estimate of ($1.39) by $0.90. The company had revenue of $19.50 billion during the quarter, compared to analysts' expectations of $19.57 billion. Boeing's revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.13) earnings per share. On average, research analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BA shares. Wall Street Zen cut shares of Boeing from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. UBS Group boosted their price objective on Boeing from $207.00 to $226.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Wells Fargo & Company restated an "underweight" rating on shares of Boeing in a report on Thursday. Morgan Stanley reiterated an "equal weight" rating on shares of Boeing in a report on Thursday. Finally, Sanford C. Bernstein upgraded Boeing from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $181.00 to $218.00 in a research note on Monday, April 28th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Boeing currently has a consensus rating of "Moderate Buy" and an average target price of $204.35.

Insider Transactions at Boeing

In related news, EVP Jeffrey S. Shockey sold 3,205 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the sale, the executive vice president now directly owns 20,513 shares of the company's stock, valued at $4,161,472.31. This trade represents a 13.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 sale, the senior vice president now owns 13,258 shares of the company's stock, valued at approximately $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. Over the last ninety days, insiders have sold 7,744 shares of company stock valued at $1,511,370. 0.09% of the stock is currently owned by corporate insiders.

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.