Cresset Asset Management LLC Decreases Holdings in The Boeing Company (NYSE:BA)

Cresset Asset Management LLC lowered its stake in The Boeing Company (NYSE:BA) by 51.6% in the 4th quarter, HoldingsChannel reports. The fund owned 19,016 shares of the aircraft producer’s stock after selling 20,292 shares during the period. Cresset Asset Management LLC’s holdings in Boeing were worth $3,366,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in BA. Sierra Ocean LLC bought a new stake in Boeing in the fourth quarter worth $26,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Boeing in the fourth quarter valued at $27,000. Fiduciary Advisors Inc. purchased a new position in shares of Boeing during the 4th quarter worth about $28,000. HighMark Wealth Management LLC grew its holdings in Boeing by 121.6% during the 4th quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock valued at $29,000 after purchasing an additional 90 shares during the last quarter. Finally, Anfield Capital Management LLC raised its position in Boeing by 113.1% in the 4th quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer’s stock worth $32,000 after purchasing an additional 95 shares during the period. 64.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on BA shares. Benchmark cut their target price on Boeing from $250.00 to $215.00 and set a “buy” rating on the stock in a research note on Monday, April 21st. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of Boeing in a research note on Wednesday, April 23rd. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $140.00 price target (up previously from $111.00) on shares of Boeing in a research note on Wednesday, April 23rd. Cowen reissued a “buy” rating on shares of Boeing in a research report on Wednesday. Finally, Sanford C. Bernstein raised shares of Boeing from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $181.00 to $218.00 in a research report on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and a consensus price target of $200.90.

Insider Buying and Selling at Boeing

In other Boeing news, EVP David Christopher Raymond sold 3,899 shares of Boeing stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $187.01, for a total transaction of $729,151.99. Following the completion of the sale, the executive vice president now owns 42,513 shares of the company’s stock, valued at approximately $7,950,356.13. The trade was a 8.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Uma M. Amuluru sold 3,159 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following 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 position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

Boeing Stock Up 3.4 %

Shares of Boeing stock opened at $191.79 on Friday. The company has a market cap of $144.61 billion, a P/E ratio of -10.47 and a beta of 1.41. The firm’s 50 day moving average price is $166.31 and its 200-day moving average price is $166.60. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $196.95.

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