The Boeing Company (NYSE:BA) Shares Acquired by Norway Savings Bank

Norway Savings Bank grew its holdings in The Boeing Company (NYSE:BA) by 4.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,799 shares of the aircraft producer’s stock after buying an additional 340 shares during the quarter. Norway Savings Bank’s holdings in Boeing were worth $1,501,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Revolve Wealth Partners LLC acquired a new stake in shares of Boeing in the fourth quarter valued at about $201,000. Bank Pictet & Cie Europe AG acquired a new stake in shares of Boeing during the 4th quarter valued at approximately $7,837,000. Alberta Investment Management Corp acquired a new stake in shares of Boeing during the 4th quarter valued at approximately $3,052,000. Bryn Mawr Capital Management LLC lifted its position in shares of Boeing by 57.4% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 5,489 shares of the aircraft producer’s stock valued at $972,000 after acquiring an additional 2,002 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its position in shares of Boeing by 9.7% during the 4th quarter. Concurrent Investment Advisors LLC now owns 22,666 shares of the aircraft producer’s stock valued at $4,012,000 after acquiring an additional 2,000 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wall Street Zen cut Boeing from a “hold” rating to a “sell” rating in a report on Saturday, May 17th. Benchmark cut their price target on Boeing from $250.00 to $215.00 and set a “buy” rating for the company in a research note on Monday, April 21st. The Goldman Sachs Group set a $212.00 price target on Boeing and gave the stock a “buy” rating in a research note on Thursday, June 12th. Citigroup reaffirmed a “buy” rating on shares of Boeing in a research note on Thursday, May 22nd. Finally, UBS Group lifted their target price on shares of Boeing from $207.00 to $226.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. 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 issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $209.85.

Insider Buying and Selling

In other news, EVP David Christopher Raymond sold 3,899 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 42,513 shares in the company, valued at $7,950,356.13. This represents a 8.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 7,744 shares of company stock valued at $1,511,370. Insiders own 0.09% of the company’s stock.

Boeing Trading Up 0.4%

Boeing stock opened at $198.41 on Friday. The firm has a market capitalization of $149.60 billion, a P/E ratio of -11.07 and a beta of 1.43. The stock has a fifty day moving average price of $193.38 and a 200 day moving average price of $178.31. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $218.80.

Boeing (NYSE:BA) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $19.57 billion. During the same period in the prior year, the company earned ($1.13) EPS. The company’s revenue was up 17.7% compared to the same quarter last year. As a group, equities analysts predict that The Boeing Company will post -2.58 EPS for the current year.

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.