Amalgamated Bank Sells 7,323 Shares of The Boeing Company (NYSE:BA)

Amalgamated Bank reduced its stake in shares of The Boeing Company (NYSE:BA) by 5.1% in the fourth quarter, Holdings Channel reports. The fund owned 136,347 shares of the aircraft producer’s stock after selling 7,323 shares during the quarter. Amalgamated Bank’s holdings in Boeing were worth $35,540,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Boeing by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 47,609,508 shares of the aircraft producer’s stock worth $9,125,790,000 after acquiring an additional 356,496 shares during the period. Morgan Stanley grew its position in Boeing by 1.1% during the third quarter. Morgan Stanley now owns 8,362,267 shares of the aircraft producer’s stock worth $1,602,880,000 after buying an additional 91,801 shares in the last quarter. Northern Trust Corp increased its stake in Boeing by 3.2% in the 3rd quarter. Northern Trust Corp now owns 4,951,181 shares of the aircraft producer’s stock worth $949,042,000 after acquiring an additional 153,168 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of Boeing in the 4th quarter valued at about $960,397,000. Finally, Invesco Ltd. boosted its position in shares of Boeing by 30.1% during the 3rd quarter. Invesco Ltd. now owns 3,279,421 shares of the aircraft producer’s stock valued at $628,599,000 after acquiring an additional 759,267 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BA shares. Morgan Stanley reduced their target price on Boeing from $235.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 10th. Barclays decreased their price objective on Boeing from $235.00 to $190.00 and set an “equal weight” rating on the stock in a report on Monday, April 22nd. Royal Bank of Canada reduced their price target on shares of Boeing from $225.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 16th. Susquehanna lowered their price target on shares of Boeing from $265.00 to $230.00 and set a “positive” rating for the company in a research note on Thursday, March 21st. Finally, Edward Jones cut Boeing from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Boeing presently has a consensus rating of “Hold” and a consensus target price of $222.41.

Boeing Stock Up 4.3 %

Shares of NYSE BA traded up $7.39 during trading on Thursday, reaching $178.85. 10,172,954 shares of the company traded hands, compared to its average volume of 9,680,446. The firm has a 50 day simple moving average of $184.61 and a 200-day simple moving average of $206.14. The Boeing Company has a 52-week low of $159.70 and a 52-week high of $267.54. The stock has a market capitalization of $109.79 billion, a PE ratio of -49.31 and a beta of 1.54.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.25. The company had revenue of $22.02 billion during the quarter, compared to the consensus estimate of $21.14 billion. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the firm posted ($1.75) EPS. As a group, research analysts predict that The Boeing Company will post -0.18 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.