Wesbanco Bank Inc. Sells 2,240 Shares of The Boeing Company (NYSE:BA)

Wesbanco Bank Inc. decreased its stake in The Boeing Company (NYSE:BA - Free Report) by 9.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,658 shares of the aircraft producer's stock after selling 2,240 shares during the period. Wesbanco Bank Inc.'s holdings in Boeing were worth $3,864,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BA. Sierra Ocean LLC acquired a new position in Boeing during the 4th quarter worth about $26,000. American National Bank & Trust boosted its holdings in Boeing by 474.1% during the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock worth $26,000 after purchasing an additional 128 shares during the last quarter. HighMark Wealth Management LLC boosted its stake in shares of Boeing by 121.6% during the 4th quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer's stock worth $29,000 after buying an additional 90 shares during the last quarter. REAP Financial Group LLC raised its stake in shares of Boeing by 60.2% during the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock worth $31,000 after purchasing an additional 65 shares in the last quarter. Finally, Anfield Capital Management LLC grew its position in shares of Boeing by 113.1% in the 4th quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer's stock valued at $32,000 after acquiring an additional 95 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP David Christopher Raymond sold 3,899 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $187.01, for a total value of $729,151.99. Following the completion of the transaction, the executive vice president now directly owns 42,513 shares in the company, valued at approximately $7,950,356.13. This trade represents a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Brendan J. Nelson sold 640 shares of the firm's stock in a transaction dated 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 now directly owns 13,258 shares in the company, valued at approximately $2,734,860.24. The trade was a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,744 shares of company stock valued at $1,511,370 in the last 90 days. 0.09% of the stock is currently owned by corporate insiders.

Boeing Price Performance

Shares of BA traded down $1.72 during trading hours on Tuesday, hitting $215.79. The stock had a trading volume of 8,179,964 shares, compared to its average volume of 9,235,957. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $218.80. The firm has a 50 day simple moving average of $183.57 and a 200-day simple moving average of $175.53. The firm has a market capitalization of $162.70 billion, a P/E ratio of -11.78 and a beta of 1.43.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings results 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 analyst estimates of $19.57 billion. During the same quarter last year, the firm posted ($1.13) EPS. Boeing's revenue for the quarter was up 17.7% on a year-over-year basis. Equities analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BA has been the subject of several research reports. Citigroup reaffirmed a "buy" rating on shares of Boeing in a report on Thursday, May 22nd. TD Securities cut Boeing to a "cautious" rating in a research report on Thursday, May 22nd. Susquehanna reaffirmed a "positive" rating and issued a $240.00 target price (up previously from $205.00) on shares of Boeing in a report on Wednesday, May 14th. Sanford C. Bernstein upgraded shares of Boeing from a "market perform" rating to an "outperform" rating and raised their target price for the company from $181.00 to $218.00 in a research report on Monday, April 28th. Finally, Melius upgraded shares of Boeing from a "hold" rating to a "buy" rating in a report on Monday, March 24th. Three research analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $209.35.

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.