The Boeing Company (NYSE:BA) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lowered its stake in shares of The Boeing Company (NYSE:BA) by 29.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 478,859 shares of the aircraft producer’s stock after selling 197,333 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.06% of Boeing worth $81,669,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BA. Vanguard Group Inc. boosted its position in Boeing by 24.4% during the 4th quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock valued at $11,406,361,000 after purchasing an additional 12,641,715 shares during the period. Geode Capital Management LLC boosted its position 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 during the period. Castlekeep Investment Advisors LLC acquired a new position in Boeing during the 4th quarter valued at approximately $568,000. Alyeska Investment Group L.P. acquired a new position in Boeing during the 4th quarter valued at approximately $526,889,000. Finally, Zimmer Partners LP acquired a new position in Boeing during the 4th quarter worth $393,736,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Sanford C. Bernstein upgraded Boeing from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $181.00 to $218.00 in a research report on Monday, April 28th. Melius Research set a $204.00 price target on Boeing in a research report on Monday, March 24th. Melius upgraded Boeing from a “hold” rating to a “buy” rating in a research report on Monday, March 24th. The Goldman Sachs Group set a $212.00 price target on Boeing and gave the stock a “buy” rating in a research report on Thursday, June 12th. Finally, Royal Bank Of Canada reiterated a “cautious” rating on shares of Boeing in a research report on Thursday, June 12th. Four analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and a consensus target price of $209.85.

Insider Transactions at Boeing

In related news, 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 directly owns 42,513 shares of the company’s stock, valued at approximately $7,950,356.13. The trade was a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the company’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 directly owns 20,513 shares in the company, valued at $4,161,472.31. The trade was a 13.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,744 shares of company stock valued at $1,511,370 over the last three months. Company insiders own 0.09% of the company’s stock.

Boeing Stock Down 1.3%

Shares of Boeing stock opened at $197.62 on Friday. The stock’s fifty day moving average is $192.55 and its 200-day moving average is $178.01. The firm has a market capitalization of $149.01 billion, a PE ratio of -11.03 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 announced its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, topping 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. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period last year, the firm earned ($1.13) earnings per share. Analysts expect that The Boeing Company will post -2.58 EPS for the current year.

Boeing Company 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.