Smith Moore & CO. Decreases Stock Position in The Boeing Company (NYSE:BA)

Smith Moore & CO. trimmed its position in shares of The Boeing Company (NYSE:BA) by 18.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,491 shares of the aircraft producer’s stock after selling 792 shares during the quarter. Smith Moore & CO.’s holdings in Boeing were worth $618,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. AdvisorNet Financial Inc grew its holdings in Boeing by 54.2% during the 4th quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock valued at $358,000 after purchasing an additional 710 shares during the last quarter. Carnegie Investment Counsel boosted its position in shares of Boeing by 175.6% during the fourth quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock valued at $818,000 after buying an additional 2,943 shares during the period. Principal Financial Group Inc. grew its stake in shares of Boeing by 6.1% during the third quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock valued at $101,296,000 after buying an additional 38,332 shares during the last quarter. World Investment Advisors LLC raised its holdings in shares of Boeing by 243.4% in the third quarter. World Investment Advisors LLC now owns 5,381 shares of the aircraft producer’s stock worth $818,000 after buying an additional 3,814 shares during the period. Finally, Amundi lifted its stake in shares of Boeing by 473.6% during the 4th 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. Institutional investors own 64.82% of the company’s stock.

Insiders Place Their Bets

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of Boeing 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 completion of 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.09% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BA. JPMorgan Chase & Co. boosted their target price on shares of Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Northcoast Research raised shares of Boeing from a “sell” rating to a “neutral” rating in a research 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 company a “buy” rating in a research note on Thursday, January 2nd. Melius raised shares of Boeing from a “hold” rating to a “buy” rating in a research note on Monday, March 24th. Finally, Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $190.00 to $210.00 in a research report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $196.10.

Boeing Price Performance

NYSE BA opened at $136.61 on Friday. The company has a market cap of $102.47 billion, a price-to-earnings ratio of -7.46 and a beta of 1.53. The stock’s fifty day moving average price is $172.36 and its 200 day moving average price is $164.22. The Boeing Company has a 1 year low of $132.79 and a 1 year high of $196.95.

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 earned ($0.47) earnings per share. Research analysts expect that The Boeing Company will post -2.58 earnings per share for the current year.

About Boeing

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.