Wedbush Securities Inc. Reduces Position in The Boeing Company (NYSE:BA)

Wedbush Securities Inc. trimmed its holdings in The Boeing Company (NYSE:BA) by 4.7% during the fourth quarter, HoldingsChannel reports. The firm owned 42,526 shares of the aircraft producer’s stock after selling 2,087 shares during the period. Wedbush Securities Inc.’s holdings in Boeing were worth $7,527,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Boeing by 24.4% in the 4th quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock valued at $11,406,361,000 after buying an additional 12,641,715 shares during the period. Geode Capital Management LLC lifted its holdings in Boeing by 29.5% in the fourth quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock valued at $2,677,170,000 after acquiring an additional 3,452,075 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Boeing in the fourth quarter worth approximately $230,944,000. Amundi increased its stake in Boeing by 473.6% during the fourth quarter. Amundi now owns 1,565,337 shares of the aircraft producer’s stock worth $268,862,000 after acquiring an additional 1,292,417 shares during the last quarter. Finally, Burkehill Global Management LP purchased a new stake in Boeing in the fourth quarter valued at $212,400,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Stock Down 9.5 %

Shares of NYSE:BA opened at $136.61 on Friday. The Boeing Company has a fifty-two week low of $132.79 and a fifty-two week high of $196.95. The firm’s 50 day moving average price is $172.36 and its 200 day moving average price is $164.16. The stock has a market cap of $102.47 billion, a price-to-earnings ratio of -7.46 and a beta of 1.53.

Boeing (NYSE:BA) last announced its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same quarter last year, the business posted ($0.47) EPS. On average, equities analysts anticipate that The Boeing Company will post -2.58 EPS for the current year.

Insider Transactions at Boeing

In other news, EVP Uma M. Amuluru sold 3,159 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $180.69, for a total transaction of $570,799.71. Following the sale, the executive vice president now owns 19,213 shares of the company’s stock, valued at approximately $3,471,596.97. This trade represents a 14.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

BA has been the subject of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research report on Wednesday, January 29th. Citigroup lifted their price target on shares of Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. JPMorgan Chase & Co. lifted their target price on shares of Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company upped their price target on Boeing from $103.00 to $113.00 and gave the stock an “underweight” rating in a research note on Monday, March 17th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and an average target price of $196.10.

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.