SFE Investment Counsel Trims Stock Position in The Boeing Company (NYSE:BA)

SFE Investment Counsel lessened its position in The Boeing Company (NYSE:BA - Free Report) by 47.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,412 shares of the aircraft producer's stock after selling 1,275 shares during the period. SFE Investment Counsel's holdings in Boeing were worth $241,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of Boeing by 29.5% in the 4th quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer's stock valued at $2,677,170,000 after buying an additional 3,452,075 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new stake in Boeing during the 4th quarter worth approximately $568,000. Alyeska Investment Group L.P. bought a new stake in shares of Boeing in the 4th quarter valued at $526,889,000. Zimmer Partners LP bought a new stake in shares of Boeing in the 4th quarter valued at $393,736,000. Finally, Northern Trust Corp boosted its stake in shares of Boeing by 33.6% in the 4th quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer's stock valued at $1,151,316,000 after purchasing an additional 1,634,231 shares during the last quarter. Institutional investors own 64.82% of the company's stock.

Insider Activity

In related news, EVP Jeffrey S. Shockey sold 3,205 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the transaction, the executive vice president owned 20,513 shares in the company, valued at $4,161,472.31. The trade was a 13.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Brendan J. Nelson sold 640 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $206.28, for a total value 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 approximately $2,734,860.24. This trade represents a 4.60% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,744 shares of company stock worth $1,511,370. Corporate insiders own 0.09% of the company's stock.

Boeing Stock Performance

Shares of NYSE BA traded up $1.75 during mid-day trading on Friday, hitting $233.02. The stock had a trading volume of 4,613,746 shares, compared to its average volume of 7,181,941. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $235.27. The business has a 50 day moving average price of $213.01 and a two-hundred day moving average price of $186.75. The firm has a market cap of $175.70 billion, a P/E ratio of -13.00 and a beta of 1.41.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.39) by $0.90. The company had revenue of $19.50 billion for the quarter, compared to analysts' expectations of $19.57 billion. During the same period in the previous year, the firm posted ($1.13) earnings per share. The firm's revenue for the quarter was up 17.7% compared to the same quarter last year. Equities 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 firms have weighed in on BA. Cowen reaffirmed a "buy" rating on shares of Boeing in a research note on Wednesday, May 7th. Sanford C. Bernstein restated an "outperform" rating on shares of Boeing in a report on Monday, July 14th. Rothschild & Co Redburn upgraded shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price objective for the company in a report on Friday, June 27th. The Goldman Sachs Group set a $212.00 target price on shares of Boeing and gave the stock a "buy" rating in a research report on Thursday, June 12th. Finally, Redburn Atlantic upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating and raised their price objective for the company from $180.00 to $275.00 in a research report on Friday, June 27th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average 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.