Associated Banc Corp Decreases Stake in The Boeing Company $BA

Associated Banc Corp reduced its stake in shares of The Boeing Company (NYSE:BA) by 14.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,758 shares of the aircraft producer’s stock after selling 3,182 shares during the period. Associated Banc Corp’s holdings in Boeing were worth $3,930,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in BA. Harbor Asset Planning Inc. purchased a new stake in Boeing during the 2nd quarter valued at about $25,000. Piscataqua Savings Bank lifted its holdings in shares of Boeing by 1,712.5% during the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock worth $30,000 after purchasing an additional 137 shares during the period. Monetary Management Group Inc. boosted its position in Boeing by 33.3% in the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock valued at $34,000 after buying an additional 50 shares during the last quarter. Decker Retirement Planning Inc. acquired a new position in Boeing in the 2nd quarter worth approximately $35,000. Finally, IMG Wealth Management Inc. raised its position in Boeing by 159.4% during the 2nd quarter. IMG Wealth Management Inc. now owns 179 shares of the aircraft producer’s stock worth $38,000 after buying an additional 110 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Vertical Research raised shares of Boeing from a “hold” rating to a “buy” rating and upped their price objective for the company from $242.00 to $270.00 in a report on Monday, September 8th. Deutsche Bank Aktiengesellschaft lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $240.00 price target on the stock. in a report on Thursday, October 30th. Susquehanna reduced their price objective on Boeing from $270.00 to $255.00 and set a “positive” rating for the company in a research note on Wednesday, November 12th. Royal Bank Of Canada restated an “outperform” rating and issued a $250.00 target price on shares of Boeing in a research note on Monday, September 29th. Finally, Jefferies Financial Group set a $255.00 target price on Boeing in a report on Tuesday, September 30th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have issued a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $232.09.

Insider Buying and Selling

In related news, EVP Uma M. Amuluru sold 1,366 shares of Boeing stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $197.66, for a total value of $270,003.56. Following the sale, the executive vice president owned 14,656 shares of the company’s stock, valued at approximately $2,896,904.96. This trade represents a 8.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Dana S. Deasy purchased 554 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was bought at an average cost of $178.88 per share, with a total value of $99,099.52. Following the acquisition, the senior vice president owned 28,442 shares in the company, valued at $5,087,704.96. This represents a 1.99% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.09% of the company’s stock.

Boeing Stock Up 1.8%

NYSE:BA opened at $182.39 on Wednesday. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69. The stock’s 50-day moving average price is $207.51 and its 200-day moving average price is $214.72. The stock has a market capitalization of $138.63 billion, a PE ratio of -13.33 and a beta of 1.44.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The business had revenue of $23.27 billion during the quarter, compared to the consensus estimate of $21.61 billion. During the same quarter in the prior year, the company earned ($10.44) EPS. The company’s quarterly revenue was up 30.4% compared to the same quarter last year. Sell-side analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal 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.