The Boeing Company (NYSE:BA) Shares Sold by Korea Investment CORP

Korea Investment CORP lessened its stake in shares of The Boeing Company (NYSE:BA) by 8.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 450,668 shares of the aircraft producer’s stock after selling 40,694 shares during the period. Korea Investment CORP owned 0.06% of Boeing worth $79,768,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Keynote Financial Services LLC increased its holdings in shares of Boeing by 3.8% in 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 position in Boeing by 2.1% during the fourth quarter. Chaney Capital Management Inc. now owns 2,870 shares of the aircraft producer’s stock worth $508,000 after buying an additional 58 shares during the period. Farmers & Merchants Investments Inc. increased its holdings in Boeing by 0.6% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 10,608 shares of the aircraft producer’s stock valued at $1,878,000 after buying an additional 59 shares in the last quarter. Center for Financial Planning Inc. boosted its stake in shares of 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 in the last quarter. Finally, Transcend Capital Advisors LLC grew its holdings in shares of Boeing by 1.3% in the 4th quarter. Transcend Capital Advisors LLC now owns 4,923 shares of the aircraft producer’s stock worth $871,000 after acquiring an additional 61 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Insider Buying and Selling

In related news, EVP Uma M. Amuluru sold 3,159 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 19,213 shares in the company, valued at approximately $3,471,596.97. This trade represents a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BA. Wells Fargo & Company lifted their price objective on Boeing from $103.00 to $113.00 and gave the stock an “underweight” rating in a report on Monday, March 17th. Barclays upgraded shares of Boeing from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $190.00 to $210.00 in a research report on Monday, January 6th. StockNews.com upgraded shares of Boeing to a “sell” rating in a report on Wednesday, March 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Boeing in a report on Wednesday, January 29th. Finally, UBS Group raised their price objective on shares of Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Boeing has an average rating of “Moderate Buy” and an average target price of $195.68.

Boeing Price Performance

Shares of BA stock opened at $178.42 on Thursday. The firm’s 50-day simple moving average is $173.74 and its 200-day simple moving average is $164.00. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $196.95. The firm has a market cap of $133.83 billion, a P/E ratio of -9.74 and a beta of 1.53.

Boeing (NYSE:BA) last posted its quarterly earnings results 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 period in the prior year, the firm earned ($0.47) EPS. Analysts expect that The Boeing Company will post -2.58 earnings per share 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.