RB Capital Management LLC Lowers Stake in The Boeing Company (NYSE:BA)

RB Capital Management LLC reduced its position in shares of The Boeing Company (NYSE:BA) by 9.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,794 shares of the aircraft producer’s stock after selling 179 shares during the quarter. RB Capital Management LLC’s holdings in Boeing were worth $317,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BA. Vanguard Group Inc. increased its holdings in Boeing by 24.4% in the 4th quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock worth $11,406,361,000 after acquiring an additional 12,641,715 shares in the last quarter. Geode Capital Management LLC lifted its stake in Boeing by 29.5% in the 4th quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock valued at $2,677,170,000 after buying an additional 3,452,075 shares in the last quarter. Northern Trust Corp lifted its stake in Boeing by 33.6% in the 4th quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer’s stock valued at $1,151,316,000 after buying an additional 1,634,231 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Boeing by 3.4% in the 4th quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer’s stock valued at $890,469,000 after buying an additional 164,042 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Boeing by 30.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,178,444 shares of the aircraft producer’s stock valued at $739,585,000 after buying an additional 981,796 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Boeing

In related news, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction that occurred on 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 sale, the senior vice president now owns 13,258 shares in the company, valued at approximately $2,734,860.24. This trade represents a 4.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total transaction of $650,198.35. Following the completion of the sale, the executive vice president now owns 20,513 shares of the company’s stock, valued at $4,161,472.31. This trade represents a 13.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,744 shares of company stock valued at $1,511,370 over the last 90 days. 0.09% of the stock is owned by insiders.

Boeing Price Performance

Shares of NYSE BA opened at $203.27 on Thursday. The company has a 50 day simple moving average of $174.53 and a 200-day simple moving average of $169.64. The company has a market capitalization of $153.26 billion, a P/E ratio of -11.10 and a beta of 1.41. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $209.66.

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

Wall Street Analysts Forecast Growth

BA has been the topic of a number of research reports. Cowen reaffirmed a “buy” rating on shares of Boeing in a research note on Wednesday, May 7th. TD Securities reaffirmed a “buy” rating and issued a $180.00 price target on shares of Boeing in a research note on Thursday, April 24th. Sanford C. Bernstein raised shares of Boeing from a “market perform” rating to an “outperform” rating and raised their price target for the company from $181.00 to $218.00 in a research note on Monday, April 28th. StockNews.com lowered shares of Boeing from a “hold” rating to a “sell” rating in a research note on Saturday, May 17th. Finally, Citigroup raised their price target on shares of Boeing from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Boeing has a consensus rating of “Moderate Buy” and a consensus price target of $204.35.

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.