Trust Point Inc. Sells 340 Shares of The Boeing Company (NYSE:BA)

Trust Point Inc. lowered its stake in The Boeing Company (NYSE:BA) by 15.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,862 shares of the aircraft producer’s stock after selling 340 shares during the period. Trust Point Inc.’s holdings in Boeing were worth $318,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Boeing by 24.4% during the fourth quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock valued at $11,406,361,000 after acquiring an additional 12,641,715 shares in the last quarter. Geode Capital Management LLC increased its stake in Boeing by 29.5% during 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 in the last quarter. Northern Trust Corp raised its holdings in Boeing by 33.6% in the fourth quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer’s stock worth $1,151,316,000 after buying an additional 1,634,231 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Boeing by 3.4% in the fourth quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer’s stock worth $890,469,000 after buying an additional 164,042 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Boeing by 30.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,178,444 shares of the aircraft producer’s stock valued at $739,585,000 after buying an additional 981,796 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BA shares. Benchmark decreased their price objective on shares of Boeing from $250.00 to $215.00 and set a “buy” rating for the company in a report on Monday, April 21st. Wells Fargo & Company restated an “underweight” rating on shares of Boeing in a research note on Thursday, May 22nd. Sanford C. Bernstein raised Boeing from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $181.00 to $218.00 in a research report on Monday, April 28th. The Goldman Sachs Group set a $212.00 target price on Boeing and gave the stock a “buy” rating in a research report on Thursday, June 12th. Finally, Wall Street Zen downgraded shares of Boeing from a “hold” rating to a “sell” rating in a report on Saturday, May 17th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Boeing currently has an average rating of “Moderate Buy” and a consensus price target of $209.85.

Insider Buying and Selling

In other news, 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 transaction, the executive vice president now owns 20,513 shares of the company’s stock, valued at approximately $4,161,472.31. The trade was a 13.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Christopher Raymond sold 3,899 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total transaction of $729,151.99. Following the transaction, the executive vice president now owns 42,513 shares of the company’s stock, valued at approximately $7,950,356.13. This represents a 8.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,744 shares of company stock valued at $1,511,370. Company insiders own 0.09% of the company’s stock.

Boeing Trading Down 0.7%

Shares of NYSE:BA opened at $200.21 on Wednesday. The stock has a 50 day moving average of $190.97 and a 200 day moving average of $177.59. The company has a market cap of $150.96 billion, a PE ratio of -11.17 and a beta of 1.43. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $218.80.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.39) by $0.90. The firm had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.57 billion. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.13) earnings per share. Equities research analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

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.