Wealthcare Advisory Partners LLC reduced its stake in The Boeing Company (NYSE: BA) by 15.8% in the first quarter, now holding 7,678 shares after selling 1,444 shares. The value of these holdings is estimated at $1,309,000 based on the latest SEC filing.
Other institutional investors have also been active with their positions in Boeing. Sierra Ocean LLC entered a new stake worth approximately $26,000 in the fourth quarter. Meanwhile, American National Bank & Trust substantially increased its stake by 474.1% in the first quarter, owning 155 shares valued at $26,000 after purchasing an additional 128 shares. HighMark Wealth Management LLC raised its ownership by 121.6% in the fourth quarter and now holds 164 shares valued at $29,000. REAP Financial Group LLC and Anfield Capital Management LLC also made significant increases to their holdings, with growth rates of 60.2% and 113.1%, respectively. Institutional investors, collectively, control 64.82% of Boeing’s stock.
In terms of market performance, analysts have recently set new price targets for Boeing. Sanford C. Bernstein upgraded the stock to an “outperform” rating with a price target increase from $181.00 to $218.00 in late April. Conversely, Wells Fargo maintained an “underweight” rating. Additionally, Bank of America upgraded Boeing to a “buy” rating and raised its price target from $185.00 to $260.00 in early June. Overall, Boeing is rated as a “Moderate Buy” with an average target price of $209.85, according to MarketBeat data.
On Monday, Boeing’s stock saw a mid-day increase of 0.7%, reaching $201.74, with trading volumes at around 6.8 million shares. The stock has fluctuated within a 52-week range of $128.88 to $218.80.
Boeing’s latest earnings, reported in late April, showed a smaller loss than expected with an EPS of ($0.49), exceeding the consensus estimate of ($1.39) while revenues grew 17.7% year-over-year. Analysts forecast the company to post earnings of -$2.58 per share for the current fiscal year.
In insider trading news, significant sales were noted from executives, including a sale by SVP Brendan J. Nelson and EVP Jeffrey S. Shockey with respective decreases in their positions.
Boeing continues to operate across multiple segments, including commercial airplanes, defense, and space sectors, positioning itself strategically for future growth despite recent challenges.
This scenario depicts the ongoing adjustments in investor strategies regarding Boeing, reflecting the complexities in the aerospace sector as analysts remain cautiously optimistic amidst fluctuating valuations and market conditions.