Hartford Funds Management Co LLC Buys Shares of 2,510 The Boeing Company (NYSE:BA)

Hartford Funds Management Co LLC bought a new stake in The Boeing Company (NYSE:BA) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,510 shares of the aircraft producer’s stock, valued at approximately $444,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Welch & Forbes LLC lifted its holdings in Boeing by 12.0% in the 4th quarter. Welch & Forbes LLC now owns 1,866 shares of the aircraft producer’s stock valued at $330,000 after purchasing an additional 200 shares in the last quarter. E Fund Management Co. Ltd. purchased a new position in Boeing in the 4th quarter valued at about $321,000. Freestone Capital Holdings LLC lifted its holdings in shares of Boeing by 2.8% during the 4th quarter. Freestone Capital Holdings LLC now owns 9,251 shares of the aircraft producer’s stock worth $1,637,000 after acquiring an additional 255 shares during the period. Pinnacle Wealth Planning Services Inc. lifted its holdings in shares of Boeing by 19.9% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 4,441 shares of the aircraft producer’s stock worth $786,000 after acquiring an additional 738 shares during the period. Finally, Lindbrook Capital LLC lifted its holdings in shares of Boeing by 4.6% during the 4th quarter. Lindbrook Capital LLC now owns 13,011 shares of the aircraft producer’s stock worth $2,303,000 after acquiring an additional 567 shares during the period. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Trading Down 2.8 %

NYSE BA opened at $158.52 on Friday. The company’s fifty day simple moving average is $175.56 and its 200-day simple moving average is $164.45. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $203.80. The stock has a market cap of $118.90 billion, a P/E ratio of -8.65 and a beta of 1.52.

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft increased 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. Susquehanna increased their price objective on shares of Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Citigroup increased their price objective on shares of Boeing from $207.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Finally, Barclays upgraded shares of Boeing from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $190.00 to $210.00 in a report on Monday, January 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $195.16.

Insider Buying and Selling

In related news, EVP Uma M. Amuluru sold 3,159 shares of Boeing stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following the completion of the sale, the executive vice president now owns 19,213 shares in the company, valued at approximately $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 accessible through this link. Insiders own 0.16% of the company’s stock.

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.