Peregrine Asset Advisers Inc. Sells 20,786 Shares of The Boeing Company (NYSE:BA)

Peregrine Asset Advisers Inc. lowered its stake in The Boeing Company (NYSE:BA) by 57.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 15,657 shares of the aircraft producer’s stock after selling 20,786 shares during the quarter. Boeing comprises about 2.0% of Peregrine Asset Advisers Inc.’s holdings, making the stock its 15th biggest position. Peregrine Asset Advisers Inc.’s holdings in Boeing were worth $4,081,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in BA. Jennison Associates LLC bought a new stake in Boeing in the 4th quarter worth approximately $960,397,000. Lazard Asset Management LLC increased its stake in Boeing by 8,961.2% in the 3rd quarter. Lazard Asset Management LLC now owns 1,161,461 shares of the aircraft producer’s stock worth $222,628,000 after acquiring an additional 1,148,643 shares during the last quarter. Barclays PLC increased its stake in Boeing by 54.5% in the 3rd quarter. Barclays PLC now owns 2,351,731 shares of the aircraft producer’s stock worth $450,783,000 after acquiring an additional 829,321 shares during the last quarter. Invesco Ltd. increased its stake in Boeing by 30.1% in the 3rd quarter. Invesco Ltd. now owns 3,279,421 shares of the aircraft producer’s stock worth $628,599,000 after acquiring an additional 759,267 shares during the last quarter. Finally, Cerity Partners LLC increased its stake in Boeing by 726.7% in the 4th quarter. Cerity Partners LLC now owns 624,906 shares of the aircraft producer’s stock worth $162,888,000 after acquiring an additional 549,318 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on BA. The Goldman Sachs Group dropped their target price on Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a report on Monday, March 25th. Morgan Stanley dropped their target price on Boeing from $235.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, April 10th. Wells Fargo & Company dropped their target price on Boeing from $225.00 to $215.00 and set an “equal weight” rating for the company in a report on Thursday, February 1st. Susquehanna dropped their price objective on Boeing from $265.00 to $230.00 and set a “positive” rating for the company in a report on Thursday, March 21st. Finally, Bank of America dropped their price objective on Boeing from $210.00 to $190.00 and set a “neutral” rating for the company in a report on Thursday, April 11th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Boeing currently has an average rating of “Hold” and a consensus target price of $222.41.

Boeing Trading Down 0.8 %

Shares of BA traded down $1.41 during trading hours on Monday, hitting $178.38. The company had a trading volume of 11,895,055 shares, compared to its average volume of 9,657,226. The company’s fifty day moving average price is $183.29 and its two-hundred day moving average price is $206.17. The Boeing Company has a one year low of $159.70 and a one year high of $267.54. The company has a market capitalization of $109.50 billion, a PE ratio of -50.25 and a beta of 1.54.

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.