Patten & Patten Inc. TN Cuts Stake in The Boeing Company (NYSE:BA)

Patten & Patten Inc. TN cut its holdings in The Boeing Company (NYSE:BA) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,963 shares of the aircraft producer’s stock after selling 640 shares during the period. Patten & Patten Inc. TN’s holdings in Boeing were worth $4,242,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Sierra Ocean LLC bought a new stake in Boeing in the 4th quarter worth approximately $26,000. Sugar Maple Asset Management LLC bought a new stake in Boeing in the fourth quarter worth $27,000. Fiduciary Advisors Inc. purchased a new stake in Boeing during the fourth quarter valued at $28,000. HighMark Wealth Management LLC grew its stake in shares of Boeing by 121.6% in the 4th quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock worth $29,000 after buying an additional 90 shares in the last quarter. Finally, Anfield Capital Management LLC increased its holdings in shares of Boeing by 113.1% in the 4th 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 last quarter. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Performance

NYSE:BA opened at $162.00 on Friday. The firm has a 50-day simple moving average of $173.23 and a 200-day simple moving average of $163.62. The firm has a market cap of $121.51 billion, a P/E ratio of -8.84 and a beta of 1.53. The Boeing Company has a one year low of $137.03 and a one year high of $196.95.

Boeing (NYSE:BA) last released its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter last year, the firm earned ($0.47) EPS. On average, research analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BA. JPMorgan Chase & Co. upped their price objective on Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. UBS Group increased their price target on Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Susquehanna lifted their price objective on shares of Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Citigroup increased their target price on shares of Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Finally, StockNews.com raised shares of Boeing to a “sell” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.16.

Insider Buying and Selling

In other news, EVP Uma M. Amuluru sold 3,159 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total transaction of $570,799.71. Following the sale, the executive vice president now directly owns 19,213 shares of the company’s stock, valued at $3,471,596.97. The trade was a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by company insiders.

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.