Bedell Frazier Investment Counselling LLC Cuts Stock Holdings in The Boeing Company (NYSE:BA)

Bedell Frazier Investment Counselling LLC lessened its stake in The Boeing Company (NYSE:BA) by 11.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,924 shares of the aircraft producer’s stock after selling 1,270 shares during the period. Bedell Frazier Investment Counselling LLC’s holdings in Boeing were worth $1,757,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of BA. Keynote Financial Services LLC increased its stake in Boeing by 3.8% during the 4th quarter. Keynote Financial Services LLC now owns 1,542 shares of the aircraft producer’s stock valued at $273,000 after purchasing an additional 57 shares in the last quarter. Chaney Capital Management Inc. grew its holdings in shares of Boeing by 2.1% during the fourth quarter. Chaney Capital Management Inc. now owns 2,870 shares of the aircraft producer’s stock valued at $508,000 after buying an additional 58 shares during the last quarter. Farmers & Merchants Investments Inc. increased its position in shares of Boeing by 0.6% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 10,608 shares of the aircraft producer’s stock valued at $1,878,000 after acquiring an additional 59 shares during the period. Center for Financial Planning Inc. lifted its position in Boeing by 12.0% during the 4th quarter. Center for Financial Planning Inc. now owns 562 shares of the aircraft producer’s stock worth $99,000 after acquiring an additional 60 shares during the period. Finally, Transcend Capital Advisors LLC grew its stake in Boeing by 1.3% during the 4th quarter. Transcend Capital Advisors LLC now owns 4,923 shares of the aircraft producer’s stock valued at $871,000 after purchasing an additional 61 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors.

Insider Activity at Boeing

In other news, EVP Uma M. Amuluru sold 3,159 shares of the company’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 completion of the sale, the executive vice president now owns 19,213 shares of the company’s stock, valued at $3,471,596.97. This represents a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

BA has been the subject of a number of research reports. Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $190.00 to $210.00 in a report on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research note on Wednesday, January 29th. Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Susquehanna boosted their target price on shares of Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Finally, UBS Group increased their price target on Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $195.68.

Boeing Stock Down 3.4 %

Shares of NYSE BA opened at $172.98 on Monday. The Boeing Company has a 52-week low of $137.03 and a 52-week high of $196.95. The company’s 50-day simple moving average is $173.98 and its 200-day simple moving average is $164.22. The firm has a market cap of $129.74 billion, a price-to-earnings ratio of -9.44 and a beta of 1.53.

Boeing (NYSE:BA) last posted its quarterly earnings data 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 period in the prior year, the firm posted ($0.47) earnings per share. Equities research analysts anticipate that The Boeing Company will post -2.58 EPS for the current fiscal year.

Boeing Company 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.