Trust Point Inc. Cuts Position in The Boeing Company (NYSE:BA)

Trust Point Inc. decreased its position in The Boeing Company (NYSE:BA) by 15.4% during the first quarter, HoldingsChannel.com reports. The fund owned 1,862 shares of the aircraft producer’s stock after selling 340 shares during the quarter. Trust Point Inc.’s holdings in Boeing were worth $318,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Sierra Ocean LLC bought a new stake in Boeing during the fourth quarter worth approximately $26,000. American National Bank & Trust increased its position in shares of Boeing by 474.1% during the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock valued at $26,000 after purchasing an additional 128 shares during the last quarter. HighMark Wealth Management LLC increased its position in shares of Boeing by 121.6% during the 4th quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock valued at $29,000 after purchasing an additional 90 shares during the last quarter. REAP Financial Group LLC lifted its position in Boeing by 60.2% in the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer’s stock worth $31,000 after buying an additional 65 shares during the last quarter. Finally, Anfield Capital Management LLC boosted its stake in Boeing by 113.1% during the fourth quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer’s stock worth $32,000 after buying an additional 95 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Boeing

In other 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. This represents a 8.40% decrease in their ownership of the stock. The sale 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 stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the sale, the senior vice president now owns 13,258 shares of the company’s stock, valued at approximately $2,734,860.24. This represents a 4.60% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,744 shares of company stock valued at $1,511,370. Corporate insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on BA. Bank of America raised shares of Boeing from a “neutral” rating to a “buy” rating and increased their target price for the company from $185.00 to $260.00 in a research note on Monday, June 2nd. Citigroup reissued a “buy” rating on shares of Boeing in a research report on Thursday, May 22nd. Royal Bank Of Canada restated a “cautious” rating on shares of Boeing in a research report on Thursday, June 12th. Susquehanna reaffirmed a “positive” rating and set a $240.00 target price (up previously from $205.00) on shares of Boeing in a research note on Wednesday, May 14th. Finally, Morgan Stanley set a $200.00 price target on Boeing and gave the stock an “equal weight” rating in a research note on Thursday, June 12th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $209.85.

Boeing Stock Performance

NYSE:BA opened at $200.21 on Wednesday. The firm has a 50-day simple moving average of $190.97 and a 200-day simple moving average of $177.59. The Boeing Company has a one year low of $128.88 and a one year high of $218.80. The firm has a market cap of $150.96 billion, a P/E ratio of -11.17 and a beta of 1.43.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($1.39) by $0.90. The business had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.57 billion. The business’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period last year, the firm earned ($1.13) EPS. On average, research analysts predict that The Boeing Company will post -2.58 EPS 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.