Wells Trecaso Financial Group LLC Sells 475 Shares of The Boeing Company (NYSE:BA)

Wells Trecaso Financial Group LLC lessened its stake in The Boeing Company (NYSE:BA) by 1.8% during the first quarter, HoldingsChannel reports. The firm owned 26,348 shares of the aircraft producer’s stock after selling 475 shares during the period. Boeing comprises approximately 1.5% of Wells Trecaso Financial Group LLC’s portfolio, making the stock its 24th biggest holding. Wells Trecaso Financial Group LLC’s holdings in Boeing were worth $4,494,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of BA. Vanguard Group Inc. increased its stake in shares of Boeing by 24.4% in the fourth quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock worth $11,406,361,000 after purchasing an additional 12,641,715 shares in the last quarter. Geode Capital Management LLC boosted its holdings 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 worth $2,677,170,000 after buying an additional 3,452,075 shares during the period. Northern Trust Corp grew 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 raised its holdings in Boeing by 3.4% during 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 acquiring an additional 164,042 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Boeing by 30.7% during 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 acquiring an additional 981,796 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

Shares of Boeing stock opened at $200.21 on Wednesday. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $218.80. The firm has a market cap of $150.96 billion, a PE ratio of -11.17 and a beta of 1.43. The company has a 50 day simple moving average of $190.97 and a two-hundred day simple moving average of $177.59.

Boeing (NYSE:BA) last posted its quarterly earnings data 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 the consensus estimate of $19.57 billion. During the same period in the prior year, the firm posted ($1.13) earnings per share. The business’s revenue was up 17.7% on a year-over-year basis. As a group, research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on BA. Benchmark cut their price target on Boeing from $250.00 to $215.00 and set a “buy” rating for the company in a report on Monday, April 21st. UBS Group increased their price objective on Boeing from $207.00 to $226.00 and gave the stock a “buy” rating in a report on Friday, May 9th. The Goldman Sachs Group set a $212.00 target price on Boeing and gave the stock a “buy” rating in a research note on Thursday, June 12th. Jefferies Financial Group upped their price target on Boeing from $230.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. Finally, Bank of America raised shares of Boeing from a “neutral” rating to a “buy” rating and increased their price target for the stock from $185.00 to $260.00 in a report on Monday, June 2nd. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $209.85.

Insider Buying and Selling at Boeing

In other Boeing news, EVP Jeffrey S. Shockey sold 3,205 shares of the 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 transaction, the executive vice president now directly owns 20,513 shares in the company, valued at $4,161,472.31. This trade 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, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $206.28, for a total transaction of $132,019.20. Following the transaction, the senior vice president now directly owns 13,258 shares in the company, valued at $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. Insiders have sold 7,744 shares of company stock worth $1,511,370 over the last 90 days. Corporate insiders own 0.09% of the company’s stock.

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.