U S Global Investors Inc. Decreases Stock Holdings in The Boeing Company (NYSE:BA)

U S Global Investors Inc. cut its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 24.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,004 shares of the aircraft producer's stock after selling 31,412 shares during the quarter. Boeing accounts for 2.2% of U S Global Investors Inc.'s investment portfolio, making the stock its 11th largest position. U S Global Investors Inc.'s holdings in Boeing were worth $16,885,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Boeing by 24.4% in the 4th quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer's stock valued at $11,406,361,000 after purchasing an additional 12,641,715 shares during the last quarter. Geode Capital Management LLC increased 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 purchasing an additional 3,452,075 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in shares of Boeing in the 4th quarter valued at approximately $568,000. Alyeska Investment Group L.P. acquired a new stake in shares of Boeing during the 4th quarter worth about $526,889,000. Finally, Zimmer Partners LP purchased a new stake in Boeing during the fourth quarter worth approximately $393,736,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on BA. Sanford C. Bernstein raised shares of Boeing from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $181.00 to $218.00 in a report on Monday, April 28th. Benchmark cut their price target on shares of Boeing from $250.00 to $215.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. Jefferies Financial Group upped their price objective on shares of Boeing from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Wall Street Zen lowered Boeing from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. Finally, UBS Group boosted their target price on Boeing from $207.00 to $226.00 and gave the company a "buy" rating in a report on Friday, May 9th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Boeing presently has an average rating of "Moderate Buy" and an average target price of $215.77.

Insider Buying and Selling at Boeing

In related news, EVP Jeffrey S. Shockey sold 3,205 shares of the firm'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 completion of the sale, the executive vice president now owns 20,513 shares in the company, 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 Securities & Exchange Commission, which is available at this link. 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 transaction of $132,019.20. Following the sale, the senior vice president now directly owns 13,258 shares in the company, valued at approximately $2,734,860.24. This 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 valued at $1,511,370. 0.09% of the stock is owned by corporate insiders.

Boeing Stock Performance

Boeing stock traded up $11.98 during midday trading on Friday, hitting $214.56. 14,787,018 shares of the company's stock were exchanged, compared to its average volume of 9,472,166. The stock has a market cap of $161.78 billion, a price-to-earnings ratio of -11.97 and a beta of 1.43. The firm's 50 day simple moving average is $197.85 and its 200 day simple moving average is $179.98. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $218.80.

Boeing (NYSE:BA - Get Free Report) last issued its 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 firm had revenue of $19.50 billion during the quarter, compared to analysts' expectations of $19.57 billion. During the same period in the previous year, the firm earned ($1.13) EPS. The firm's revenue was up 17.7% on a year-over-year basis. On average, equities research analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

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.