Xcel Wealth Management LLC Reduces Position in The Boeing Company (NYSE:BA)

Xcel Wealth Management LLC decreased its holdings in The Boeing Company (NYSE:BA - Free Report) by 6.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,488 shares of the aircraft producer's stock after selling 2,970 shares during the period. Boeing accounts for approximately 2.4% of Xcel Wealth Management LLC's holdings, making the stock its 11th biggest holding. Xcel Wealth Management LLC's holdings in Boeing were worth $7,587,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MBM Wealth Consultants LLC purchased a new stake in Boeing during the 1st quarter valued at $347,000. Mutual Advisors LLC increased its position in Boeing by 6.9% during the first quarter. Mutual Advisors LLC now owns 10,631 shares of the aircraft producer's stock valued at $1,892,000 after acquiring an additional 690 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in Boeing by 1.0% during the first quarter. Oregon Public Employees Retirement Fund now owns 64,751 shares of the aircraft producer's stock valued at $11,043,000 after acquiring an additional 640 shares during the last quarter. Buffington Mohr McNeal bought a new stake in shares of Boeing in the 1st quarter worth about $341,000. Finally, ZWJ Investment Counsel Inc. lifted its holdings in shares of Boeing by 10,996.8% in the 1st quarter. ZWJ Investment Counsel Inc. now owns 140,819 shares of the aircraft producer's stock worth $24,017,000 after acquiring an additional 139,550 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company's stock.

Boeing Trading Up 1.8%

Shares of NYSE BA traded up $3.72 during trading on Friday, reaching $215.75. 4,476,122 shares of the company traded hands, compared to its average volume of 9,472,233. The stock has a market cap of $162.68 billion, a P/E ratio of -12.04 and a beta of 1.41. The firm's fifty day simple moving average is $201.38 and its 200 day simple moving average is $181.06. 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 released its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, beating analysts' consensus estimates 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. The firm's quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.13) EPS. As a group, research analysts expect that The Boeing Company will post -2.58 EPS for the current year.

Analyst Ratings Changes

BA has been the topic of a number of recent analyst reports. Royal Bank Of Canada reissued a "cautious" rating on shares of Boeing in a research report on Thursday, June 12th. Morgan Stanley set a $200.00 price objective on shares of Boeing and gave the company an "equal weight" rating in a report on Thursday, June 12th. Benchmark dropped their target price 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. Bank of America raised shares of Boeing from a "neutral" rating to a "buy" rating and lifted their price target for the company from $185.00 to $260.00 in a research note on Monday, June 2nd. Finally, Redburn Atlantic raised Boeing from a "hold" rating to a "strong-buy" rating and increased their price target for the stock 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 assigned a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $215.77.

Insider Activity at Boeing

In other Boeing news, EVP David Christopher Raymond sold 3,899 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $187.01, for a total transaction of $729,151.99. Following the transaction, the executive vice president directly owned 42,513 shares of the company's stock, valued at $7,950,356.13. This trade represents a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Brendan J. Nelson sold 640 shares of the company'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 transaction, the senior vice president 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 quarter, insiders have sold 7,744 shares of company stock valued at $1,511,370. 0.09% of the stock is owned by company insiders.

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.