Hollencrest Capital Management Sells 1,921 Shares of The Boeing Company (NYSE:BA)

Hollencrest Capital Management reduced its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 58.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,365 shares of the aircraft producer's stock after selling 1,921 shares during the period. Hollencrest Capital Management's holdings in Boeing were worth $233,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Revolve Wealth Partners LLC purchased a new stake in shares of Boeing in the fourth quarter valued at about $201,000. Bank Pictet & Cie Europe AG purchased a new stake in shares of Boeing in the fourth quarter valued at about $7,837,000. Proficio Capital Partners LLC purchased a new stake in shares of Boeing in the fourth quarter valued at about $293,000. Royal London Asset Management Ltd. boosted its holdings in shares of Boeing by 21.8% in the fourth quarter. Royal London Asset Management Ltd. now owns 288,554 shares of the aircraft producer's stock valued at $51,074,000 after acquiring an additional 51,743 shares in the last quarter. Finally, Sandy Spring Bank boosted its holdings in shares of Boeing by 3.0% in the fourth quarter. Sandy Spring Bank now owns 7,068 shares of the aircraft producer's stock valued at $1,251,000 after acquiring an additional 204 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Trading Down 0.7%

NYSE:BA traded down $1.51 during mid-day trading on Friday, hitting $229.49. The stock had a trading volume of 5,968,167 shares, compared to its average volume of 9,597,328. The company has a 50 day simple moving average of $210.26 and a 200-day simple moving average of $184.73. The stock has a market capitalization of $173.04 billion, a price-to-earnings ratio of -12.81 and a beta of 1.41. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $233.61.

Boeing (NYSE:BA - Get Free Report) last released its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, beating the consensus estimate of ($1.39) by $0.90. The company 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 period in the previous year, the business posted ($1.13) EPS. As a group, equities research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on BA. Benchmark reduced their price objective on shares of Boeing from $250.00 to $215.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Royal Bank Of Canada reiterated a "cautious" rating on shares of Boeing in a research note on Thursday, June 12th. Susquehanna reiterated a "positive" rating on shares of Boeing in a research note on Monday, July 14th. Morgan Stanley raised their price objective on shares of Boeing from $200.00 to $235.00 and gave the company an "equal weight" rating in a research note on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Boeing from $200.00 to $230.00 and gave the stock an "overweight" rating in a research report on Wednesday. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $221.55.

Insider Transactions at Boeing

In related 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 completion of the sale, the senior vice president 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total transaction of $650,198.35. Following the sale, the executive vice president owned 20,513 shares of the company's stock, valued at approximately $4,161,472.31. This represents a 13.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,744 shares of company stock valued at $1,511,370 in the last quarter. 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.