Connecticut Wealth Management LLC Sells 469 Shares of The Boeing Company (NYSE:BA)

Connecticut Wealth Management LLC lowered its stake in shares of The Boeing Company (NYSE:BA) by 15.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,647 shares of the aircraft producer’s stock after selling 469 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Boeing were worth $468,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Cornerstone Advisory LLC increased its position in Boeing by 15.4% during the fourth quarter. Cornerstone Advisory LLC now owns 2,831 shares of the aircraft producer’s stock worth $522,000 after acquiring an additional 378 shares during the period. Inspire Trust Co. N.A. increased its holdings in Boeing by 28.6% in the 4th quarter. Inspire Trust Co. N.A. now owns 13,500 shares of the aircraft producer’s stock valued at $2,390,000 after buying an additional 3,000 shares during the period. Harmony Asset Management LLC increased its holdings in Boeing by 75.5% in the 4th quarter. Harmony Asset Management LLC now owns 3,758 shares of the aircraft producer’s stock valued at $665,000 after buying an additional 1,617 shares during the period. DCM Advisors LLC increased its holdings in Boeing by 18.4% in the 4th quarter. DCM Advisors LLC now owns 13,718 shares of the aircraft producer’s stock valued at $2,428,000 after buying an additional 2,129 shares during the period. Finally, Novem Group bought a new stake in Boeing in the 4th quarter valued at $858,000. Institutional investors own 64.82% of the company’s stock.

Boeing Stock Up 0.1%

Shares of NYSE BA opened at $203.39 on Friday. The company has a market cap of $153.36 billion, a price-to-earnings ratio of -11.10 and a beta of 1.41. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $209.66. The firm’s 50-day simple moving average is $175.36 and its 200 day simple moving average is $169.97.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($1.39) by $0.90. The firm had revenue of $19.50 billion for the quarter, compared to the consensus estimate 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 prior year, the firm posted ($1.13) earnings per share. On average, equities analysts expect that The Boeing Company will post -2.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BA shares. Cowen reissued a “buy” rating on shares of Boeing in a report on Wednesday, May 7th. Melius raised shares of Boeing from a “hold” rating to a “buy” rating in a report on Monday, March 24th. Susquehanna reissued a “positive” rating and issued a $240.00 price target (up previously from $205.00) on shares of Boeing in a report on Wednesday, May 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Boeing in a report on Wednesday, April 23rd. Finally, Sanford C. Bernstein upgraded shares of Boeing from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $181.00 to $218.00 in a research note on Monday, April 28th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $204.35.

Insiders Place Their Bets

In other news, EVP Jeffrey S. Shockey sold 3,205 shares of the company’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total value of $650,198.35. Following the completion of the sale, the executive vice president now directly owns 20,513 shares of the company’s stock, valued at $4,161,472.31. This represents a 13.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Brendan J. Nelson sold 640 shares of the company’s 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 sale, the senior vice president now directly owns 13,258 shares of the company’s stock, valued at approximately $2,734,860.24. This trade represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,744 shares of company stock valued at $1,511,370. 0.09% of the stock is currently owned by insiders.

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.