The Boeing Company (NYSE:BA) Shares Sold by SlateStone Wealth LLC

SlateStone Wealth LLC cut its stake in shares of The Boeing Company (NYSE:BA) by 5.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,566 shares of the aircraft producer’s stock after selling 158 shares during the quarter. SlateStone Wealth LLC’s holdings in Boeing were worth $669,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. CNB Bank raised its position in Boeing by 106.5% in the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after acquiring an additional 66 shares in the last quarter. Park Place Capital Corp raised its position in Boeing by 185.1% in the third quarter. Park Place Capital Corp now owns 211 shares of the aircraft producer’s stock worth $40,000 after acquiring an additional 137 shares in the last quarter. Lowe Wealth Advisors LLC purchased a new position in Boeing in the third quarter worth $43,000. Naples Money Management LLC purchased a new position in Boeing in the fourth quarter worth $44,000. Finally, Blue Bell Private Wealth Management LLC raised its position in Boeing by 66.2% in the third quarter. Blue Bell Private Wealth Management LLC now owns 236 shares of the aircraft producer’s stock worth $45,000 after acquiring an additional 94 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. UBS Group cut their price objective on Boeing from $275.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday, March 21st. Benchmark restated a “buy” rating and issued a $250.00 price target on shares of Boeing in a research report on Tuesday, March 26th. Northcoast Research cut Boeing from a “neutral” rating to a “sell” rating and set a $140.00 price target for the company. in a research report on Wednesday, April 17th. The Goldman Sachs Group dropped their price target on Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a research report on Monday, March 25th. Finally, Barclays dropped their price target on Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a research report on Monday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $226.71.

Boeing Price Performance

NYSE:BA traded down $1.75 during mid-day trading on Tuesday, reaching $168.73. The company’s stock had a trading volume of 4,857,071 shares, compared to its average volume of 9,575,245. The company’s fifty day simple moving average is $189.51 and its two-hundred day simple moving average is $207.32. The Boeing Company has a twelve month low of $167.53 and a twelve month high of $267.54. The stock has a market cap of $102.95 billion, a P/E ratio of -46.18, a P/E/G ratio of 134.48 and a beta of 1.52.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.25. The firm had revenue of $22.02 billion during the quarter, compared to analyst estimates of $21.14 billion. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.75) earnings per share. Sell-side analysts expect that The Boeing Company will post 0.32 EPS for the current fiscal year.

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.