Wedmont Private Capital Buys 957 Shares of The Boeing Company (NYSE:BA)

Wedmont Private Capital lifted its stake in The Boeing Company (NYSE:BA) by 19.3% during the first quarter, HoldingsChannel reports. The firm owned 5,907 shares of the aircraft producer’s stock after purchasing an additional 957 shares during the period. Wedmont Private Capital’s holdings in Boeing were worth $926,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Amundi grew its holdings in shares of Boeing by 473.6% in the fourth quarter. Amundi now owns 1,565,337 shares of the aircraft producer’s stock worth $268,862,000 after purchasing an additional 1,292,417 shares during the last quarter. KKM Financial LLC lifted its stake in Boeing by 50.8% in the fourth quarter. KKM Financial LLC now owns 15,368 shares of the aircraft producer’s stock worth $2,720,000 after acquiring an additional 5,175 shares during the period. Grant Private Wealth Management Inc purchased a new stake in Boeing in the fourth quarter worth about $903,000. Winslow Asset Management Inc. lifted its stake in Boeing by 8.2% in the fourth quarter. Winslow Asset Management Inc. now owns 40,761 shares of the aircraft producer’s stock worth $7,215,000 after acquiring an additional 3,096 shares during the period. Finally, Advanced Portfolio Management LLC lifted its stake in Boeing by 182.2% in the fourth quarter. Advanced Portfolio Management LLC now owns 15,000 shares of the aircraft producer’s stock worth $2,655,000 after acquiring an additional 9,684 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Insider Activity at Boeing

In related news, EVP David Christopher Raymond sold 3,899 shares of the 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 owns 42,513 shares in the company, valued at approximately $7,950,356.13. This represents a 8.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total transaction of $650,198.35. Following the completion of the transaction, the executive vice president now owns 20,513 shares in the company, valued at approximately $4,161,472.31. This trade represents a 13.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,744 shares of company stock valued at $1,511,370 in the last three months. 0.09% of the stock is owned by insiders.

Boeing Stock Up 1.0%

Shares of Boeing stock opened at $211.03 on Monday. The firm has a market capitalization of $159.12 billion, a P/E ratio of -11.52 and a beta of 1.43. The company has a 50 day moving average price of $182.59 and a 200 day moving average price of $175.06. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $215.80.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, beating the consensus estimate of ($1.39) by $0.90. The company had revenue of $19.50 billion during the quarter, compared to analysts’ expectations of $19.57 billion. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.13) earnings per share. As a group, research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BA has been the subject of a number of research reports. Cowen reaffirmed a “buy” rating on shares of Boeing in a research note on Wednesday, May 7th. Jefferies Financial Group upped their price objective on shares of Boeing from $230.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Wall Street Zen lowered shares of Boeing from a “hold” rating to a “sell” rating in a research note on Saturday, May 17th. Wells Fargo & Company reaffirmed an “underweight” rating on shares of Boeing in a research note on Thursday, May 22nd. Finally, Citigroup reaffirmed a “buy” rating on shares of Boeing in a research note on Thursday, May 22nd. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.85.

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.