The Boeing Company (NYSE:BA) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. cut its holdings in The Boeing Company (NYSE:BA) by 6.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,175 shares of the aircraft producer’s stock after selling 400 shares during the quarter. Cullinan Associates Inc.’s holdings in Boeing were worth $1,053,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in 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 acquiring an additional 12,641,715 shares in the last quarter. Geode Capital Management LLC raised its holdings in Boeing by 29.5% during 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 raised its holdings in Boeing by 33.6% during the 4th quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer’s stock worth $1,151,316,000 after buying an additional 1,634,231 shares during the period. 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 worth $890,469,000 after buying 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 worth $739,585,000 after buying an additional 981,796 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. The Goldman Sachs Group set a $212.00 price objective on Boeing and gave the stock a “buy” rating in a report on Thursday, June 12th. Jefferies Financial Group boosted their price objective on Boeing from $230.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Wells Fargo & Company reaffirmed an “underweight” rating on shares of Boeing in a research report on Thursday, May 22nd. Melius Research set a $204.00 target price on Boeing in a research report on Monday, March 24th. Finally, Sanford C. Bernstein raised Boeing from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $181.00 to $218.00 in a research report on Monday, April 28th. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $209.85.

Boeing Stock Performance

Shares of NYSE BA opened at $198.41 on Friday. The stock has a market cap of $149.60 billion, a price-to-earnings ratio of -11.07 and a beta of 1.43. The business has a 50 day simple moving average of $193.38 and a 200 day simple moving average of $178.45. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $218.80.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS 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 the consensus estimate of $19.57 billion. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.13) EPS. On average, analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Insider Activity at Boeing

In other Boeing news, EVP David Christopher Raymond sold 3,899 shares of the company’s stock in a transaction that occurred 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 owns 42,513 shares of the company’s stock, valued at $7,950,356.13. This represents a 8.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Brendan J. Nelson sold 640 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $206.28, for a total value of $132,019.20. Following the sale, the senior vice president now directly owns 13,258 shares of the company’s stock, valued at $2,734,860.24. The trade was a 4.60% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,744 shares of company stock valued at $1,511,370. 0.09% of the stock is owned by corporate 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.