Bellevue Asset Management LLC Sells 61 Shares of The Boeing Company (NYSE:BA)

Bellevue Asset Management LLC lowered its stake in The Boeing Company (NYSE:BA) by 6.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 944 shares of the aircraft producer’s stock after selling 61 shares during the quarter. Bellevue Asset Management LLC’s holdings in Boeing were worth $161,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BA. Revolve Wealth Partners LLC acquired a new stake in Boeing in the 4th quarter valued at approximately $201,000. Bank Pictet & Cie Europe AG bought a new stake in shares of Boeing in the fourth quarter worth $7,837,000. Bailard Inc. grew its position in Boeing by 18.5% in the fourth quarter. Bailard Inc. now owns 1,624 shares of the aircraft producer’s stock valued at $287,000 after purchasing an additional 253 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in Boeing in the 4th quarter valued at $345,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Boeing by 30.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,178,444 shares of the aircraft producer’s stock worth $739,585,000 after buying an additional 981,796 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Performance

BA stock opened at $211.90 on Thursday. The company has a market capitalization of $159.77 billion, a PE ratio of -11.82 and a beta of 1.41. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $218.80. The company’s 50-day simple moving average is $200.59 and its 200 day simple moving average is $180.77.

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

Insider Buying and Selling

In other news, EVP David Christopher Raymond sold 3,899 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $187.01, for a total transaction of $729,151.99. Following the completion of the sale, the executive vice president owned 42,513 shares of the company’s stock, valued at approximately $7,950,356.13. This represents a 8.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total transaction of $650,198.35. Following the completion of the transaction, the executive vice president directly owned 20,513 shares in the company, valued at $4,161,472.31. This trade represents a 13.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,744 shares of company stock worth $1,511,370. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Citigroup reaffirmed a “buy” rating on shares of Boeing in a research report on Thursday, May 22nd. Sanford C. Bernstein upgraded Boeing from a “market perform” rating to an “outperform” rating and raised their price target for the company from $181.00 to $218.00 in a research note on Monday, April 28th. Jefferies Financial Group upped their price objective on Boeing from $230.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Cowen restated a “buy” rating on shares of Boeing in a report on Wednesday, May 7th. Finally, Benchmark cut their price target on shares of Boeing from $250.00 to $215.00 and set a “buy” rating for the company in a research note on Monday, April 21st. Four analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $215.77.

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.