WASHINGTON TRUST Co lowered its position in The Boeing Company (NYSE:BA - Free Report) by 91.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,561 shares of the aircraft producer's stock after selling 48,059 shares during the quarter. WASHINGTON TRUST Co's holdings in Boeing were worth $778,000 as of its most recent SEC filing.
Several 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 during the 4th quarter valued at $201,000. Bank Pictet & Cie Europe AG purchased a new stake in shares of Boeing during the 4th quarter valued at $7,837,000. SVB Wealth LLC purchased a new stake in shares of Boeing during the 4th quarter valued at $2,052,000. Smartleaf Asset Management LLC raised its stake in Boeing by 26.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,802 shares of the aircraft producer's stock worth $495,000 after acquiring an additional 591 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in Boeing in the 4th quarter worth $75,000. Institutional investors own 64.82% of the company's stock.
Insider Buying and Selling at Boeing
In related news, SVP Brendan J. Nelson sold 640 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $206.28, for a total value of $132,019.20. Following the sale, the senior vice president owned 13,258 shares in the company, valued at approximately $2,734,860.24. The trade was a 4.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the business's stock in a transaction 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 completion of the sale, the executive vice president owned 20,513 shares in the company, valued at $4,161,472.31. This represents a 13.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,744 shares of company stock worth $1,511,370 over the last quarter. 0.09% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on the company. The Goldman Sachs Group set a $212.00 target price on Boeing and gave the stock a "buy" rating in a research note on Thursday, June 12th. Wells Fargo & Company restated an "underweight" rating on shares of Boeing in a research note on Thursday, May 22nd. Bank of America upgraded Boeing from a "neutral" rating to a "buy" rating and raised their target price for the stock from $185.00 to $260.00 in a research note on Monday, June 2nd. Susquehanna restated a "positive" rating and issued a $240.00 target price (up previously from $205.00) on shares of Boeing in a research note on Wednesday, May 14th. Finally, Rothschild & Co Redburn upgraded Boeing from a "neutral" rating to a "buy" rating and set a $275.00 target price for the company in a research note on Friday, June 27th. Four analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $215.77.
View Our Latest Stock Report on BA
Boeing Stock Up 1.0%
Shares of NYSE:BA traded up $2.11 during trading on Wednesday, reaching $211.90. 5,864,484 shares of the company's stock traded hands, compared to its average volume of 9,465,386. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $218.80. The firm has a market cap of $159.77 billion, a PE ratio of -11.82 and a beta of 1.41. The company has a 50-day simple moving average of $199.80 and a 200-day simple moving average of $180.55.
Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.39) by $0.90. The firm had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.57 billion. During the same quarter in the previous year, the firm posted ($1.13) earnings per share. The company's quarterly 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 year.
Boeing Company Profile
(
Free Report)
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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