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

Carret Asset Management LLC cut its position in The Boeing Company (NYSE:BA) by 6.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,725 shares of the aircraft producer’s stock after selling 450 shares during the quarter. Carret Asset Management LLC’s holdings in Boeing were worth $1,147,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BA. Vanguard Group Inc. boosted its position in shares of Boeing by 24.4% in the 4th quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock valued at $11,406,361,000 after purchasing an additional 12,641,715 shares during the period. Geode Capital Management LLC boosted its position in shares of 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 purchasing an additional 3,452,075 shares during the period. Castlekeep Investment Advisors LLC acquired a new stake in shares of Boeing in the 4th quarter valued at about $568,000. Alyeska Investment Group L.P. acquired a new stake in Boeing during the 4th quarter worth approximately $526,889,000. Finally, Zimmer Partners LP acquired a new stake in Boeing during the 4th quarter worth approximately $393,736,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BA has been the subject of a number of recent research reports. Wall Street Zen cut Boeing from a “hold” rating to a “sell” rating in a research report on Saturday, May 17th. Benchmark decreased their price objective on Boeing from $250.00 to $215.00 and set a “buy” rating for the company in a research report on Monday, April 21st. Jefferies Financial Group increased their price objective on Boeing from $230.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Melius raised Boeing from a “hold” rating to a “buy” rating in a research report on Monday, March 24th. Finally, Susquehanna reaffirmed a “positive” rating and set a $240.00 price objective (up from $205.00) on shares of Boeing in a research report on Wednesday, May 14th. Four equities 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. According to data from MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and an average price target of $209.85.

Boeing Price Performance

NYSE BA opened at $198.41 on Friday. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $218.80. The company has a market capitalization of $149.60 billion, a P/E ratio of -11.07 and a beta of 1.43. The business has a 50 day moving average price of $193.38 and a 200 day moving average price of $178.31.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($1.39) by $0.90. The firm had revenue of $19.50 billion during the quarter, compared to analysts’ expectations of $19.57 billion. During the same period in the previous year, the business earned ($1.13) earnings per share. The business’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 earnings per share for the current fiscal year.

Insider Buying and Selling at Boeing

In other Boeing news, SVP Brendan J. Nelson sold 640 shares of the stock in a transaction 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 sale, the senior vice president now owns 13,258 shares in the company, valued at approximately $2,734,860.24. This represents a 4.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Christopher Raymond sold 3,899 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $187.01, for a total value of $729,151.99. Following the sale, the executive vice president now owns 42,513 shares in the company, valued at approximately $7,950,356.13. This trade represents a 8.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,744 shares of company stock worth $1,511,370. 0.09% of the stock is owned by insiders.

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.