NFP Retirement Inc. Lowers Holdings in The Boeing Company (NYSE:BA)

NFP Retirement Inc. decreased its holdings in The Boeing Company (NYSE:BA) by 4.0% in the 1st quarter, HoldingsChannel reports. The firm owned 2,115 shares of the aircraft producer’s stock after selling 88 shares during the quarter. NFP Retirement Inc.’s holdings in Boeing were worth $361,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Boeing by 1.9% in the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock valued at $11,197,468,000 after acquiring an additional 1,212,327 shares in the last quarter. Northern Trust Corp raised its holdings in Boeing by 33.6% in the fourth quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer’s stock valued at $1,151,316,000 after acquiring an additional 1,634,231 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Boeing by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer’s stock valued at $715,979,000 after acquiring an additional 19,615 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in Boeing in the fourth quarter valued at approximately $568,000. Finally, Alyeska Investment Group L.P. acquired a new stake in Boeing in the fourth quarter valued at approximately $526,889,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Insider Activity at Boeing

In related news, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction on Friday, August 8th. The shares were sold at an average price of $229.94, for a total value of $867,103.74. Following the transaction, the executive vice president directly owned 35,873 shares in the company, valued at $8,248,637.62. This trade represents a 9.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.09% of the stock is owned by insiders.

Boeing Price Performance

Shares of Boeing stock opened at $233.32 on Thursday. The firm’s fifty day simple moving average is $218.48 and its 200-day simple moving average is $191.69. The stock has a market capitalization of $176.43 billion, a price-to-earnings ratio of -14.13 and a beta of 1.48. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69.

Boeing (NYSE:BA) last announced its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.32). The firm had revenue of $22.75 billion for the quarter, compared to analyst estimates of $20.13 billion. Boeing’s revenue for the quarter was up 34.9% on a year-over-year basis. During the same quarter last year, the firm earned ($2.90) earnings per share. Analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BA shares. Citigroup reaffirmed a “buy” rating on shares of Boeing in a report on Monday, July 28th. KGI Securities raised shares of Boeing from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 24th. Wall Street Zen cut shares of Boeing from a “hold” rating to a “sell” rating in a report on Saturday, May 17th. Rothschild & Co Redburn raised shares of Boeing from a “neutral” rating to a “buy” rating and set a $275.00 target price on the stock in a report on Friday, June 27th. Finally, Jefferies Financial Group raised their price objective on shares of Boeing from $230.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $228.90.

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.