Tennessee Valley Asset Management Partners Trims Holdings in The Boeing Company (NYSE:BA)

Tennessee Valley Asset Management Partners lessened its position in shares of The Boeing Company (NYSE:BA) by 9.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,264 shares of the aircraft producer’s stock after selling 133 shares during the period. Tennessee Valley Asset Management Partners’ holdings in Boeing were worth $216,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BA. Sierra Ocean LLC acquired a new stake in Boeing during the 4th quarter worth $26,000. American National Bank & Trust boosted its position in shares of Boeing by 474.1% in the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock worth $26,000 after acquiring an additional 128 shares during the last quarter. HighMark Wealth Management LLC raised its holdings in Boeing by 121.6% in the fourth quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock valued at $29,000 after buying an additional 90 shares during the period. REAP Financial Group LLC raised its stake in shares of Boeing by 60.2% during the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer’s stock valued at $31,000 after purchasing an additional 65 shares during the period. Finally, Anfield Capital Management LLC raised its stake in shares of Boeing by 113.1% during the fourth quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer’s stock valued at $32,000 after purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Sanford C. Bernstein upgraded shares of Boeing from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $181.00 to $218.00 in a research note on Monday, April 28th. Bank of America upgraded Boeing from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $185.00 to $260.00 in a report on Monday, June 2nd. Jefferies Financial Group increased their price target 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. UBS Group increased their price target on shares of Boeing from $207.00 to $226.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Finally, Benchmark dropped their target price on shares of Boeing from $250.00 to $215.00 and set a “buy” rating on the stock in a report on Monday, April 21st. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and an average target price of $209.85.

Insider Activity at Boeing

In other news, EVP Jeffrey S. Shockey sold 3,205 shares of the stock in a transaction 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 represents a 13.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Christopher Raymond sold 3,899 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total transaction of $729,151.99. Following the sale, the executive vice president now directly owns 42,513 shares of the company’s stock, valued at $7,950,356.13. This represents a 8.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,744 shares of company stock worth $1,511,370 over the last ninety days. Company insiders own 0.09% of the company’s stock.

Boeing Stock Up 0.7%

NYSE:BA opened at $201.74 on Tuesday. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $218.80. The company’s 50-day moving average price is $190.18 and its two-hundred day moving average price is $177.43. The firm has a market cap of $152.11 billion, a PE ratio of -11.01 and a beta of 1.43.

Boeing (NYSE:BA) last announced its 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 company had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.57 billion. During the same quarter in the previous year, the company posted ($1.13) earnings per share. Boeing’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, research analysts expect that The Boeing Company will post -2.58 EPS for the current fiscal year.

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.