Pine Haven Investment Counsel Inc Decreases Position in The Boeing Company (NYSE:BA)

Pine Haven Investment Counsel Inc trimmed its holdings in The Boeing Company (NYSE:BA) by 7.5% in the first quarter, HoldingsChannel.com reports. The firm owned 3,432 shares of the aircraft producer’s stock after selling 279 shares during the quarter. Pine Haven Investment Counsel Inc’s holdings in Boeing were worth $585,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings 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 in the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 period. Castlekeep Investment Advisors LLC purchased a new position in Boeing during the 4th quarter worth $568,000. Alyeska Investment Group L.P. acquired a new position in Boeing in the 4th quarter valued at about $526,889,000. Finally, Zimmer Partners LP acquired a new position in shares of Boeing in the fourth quarter valued at approximately $393,736,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Trading Up 1.0%

Shares of Boeing stock opened at $211.03 on Friday. The company has a fifty day moving average price of $182.59 and a 200 day moving average price of $174.64. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $215.80. The stock has a market cap of $159.12 billion, a price-to-earnings ratio of -11.52 and a beta of 1.43.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($1.39) by $0.90. The firm had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.57 billion. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.13) earnings per share. Analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

Analyst Ratings Changes

BA has been the subject of several analyst reports. Melius Research set a $204.00 price target on shares of Boeing in a report on Monday, March 24th. Cowen reiterated a “buy” rating on shares of Boeing in a research report on Wednesday, May 7th. Wells Fargo & Company reiterated an “underweight” rating on shares of Boeing in a report on Thursday, May 22nd. Morgan Stanley reiterated an “equal weight” rating on shares of Boeing in a report on Thursday, May 22nd. Finally, Susquehanna reiterated a “positive” rating and issued a $240.00 target price (up from $205.00) on shares of Boeing in a research note on Wednesday, May 14th. Three analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and an average price target of $207.85.

Insider Activity at Boeing

In other news, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the completion of the transaction, the senior vice president now directly owns 13,258 shares of the company’s stock, valued at approximately $2,734,860.24. The trade was a 4.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP David Christopher Raymond sold 3,899 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $187.01, for a total value of $729,151.99. Following the transaction, the executive vice president now directly owns 42,513 shares of the company’s stock, valued at $7,950,356.13. This trade represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,744 shares of company stock valued at $1,511,370. Insiders own 0.09% of the company’s stock.

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.