Wolff Wiese Magana LLC Has $48,000 Stake in The Boeing Company (NYSE:BA)

Wolff Wiese Magana LLC reduced its stake in shares of The Boeing Company (NYSE:BA) by 22.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 282 shares of the aircraft producer’s stock after selling 83 shares during the quarter. Wolff Wiese Magana LLC’s holdings in Boeing were worth $48,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Kentucky Retirement Systems raised its stake in Boeing by 1.8% during the first quarter. Kentucky Retirement Systems now owns 51,094 shares of the aircraft producer’s stock worth $8,714,000 after acquiring an additional 881 shares in the last quarter. Guyasuta Investment Advisors Inc. boosted its holdings in Boeing by 6.5% in the first quarter. Guyasuta Investment Advisors Inc. now owns 8,995 shares of the aircraft producer’s stock valued at $1,534,000 after acquiring an additional 550 shares during the last quarter. North Point Portfolio Managers Corp OH boosted its holdings in Boeing by 1.3% in the first quarter. North Point Portfolio Managers Corp OH now owns 62,458 shares of the aircraft producer’s stock valued at $10,652,000 after acquiring an additional 808 shares during the last quarter. Tandem Capital Management Corp ADV boosted its holdings in Boeing by 3.0% in the first quarter. Tandem Capital Management Corp ADV now owns 14,236 shares of the aircraft producer’s stock valued at $2,428,000 after acquiring an additional 421 shares during the last quarter. Finally, Absher Wealth Management LLC boosted its holdings in Boeing by 4.5% in the first quarter. Absher Wealth Management LLC now owns 96,747 shares of the aircraft producer’s stock valued at $16,500,000 after acquiring an additional 4,195 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BA shares. The Goldman Sachs Group set a $212.00 target price on Boeing and gave the stock a “buy” rating in a report on Thursday, June 12th. Citigroup reaffirmed a “buy” rating on shares of Boeing in a research report on Thursday, May 22nd. Susquehanna reaffirmed a “positive” rating and set a $240.00 price target (up previously from $205.00) on shares of Boeing in a research report on Wednesday, May 14th. Melius Research set a $204.00 target price on Boeing in a research report on Monday, March 24th. Finally, Bank of America raised Boeing from a “neutral” rating to a “buy” rating and lifted their target price for the company from $185.00 to $260.00 in a research 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 given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $209.85.

Insider Transactions at Boeing

In related news, EVP Jeffrey S. Shockey sold 3,205 shares of the business’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total value of $650,198.35. Following the completion of the sale, the executive vice president now directly owns 20,513 shares in the company, valued at $4,161,472.31. The trade was a 13.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David Christopher Raymond sold 3,899 shares of the business’s 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 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 trade represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,744 shares of company stock worth $1,511,370. 0.09% of the stock is owned by company insiders.

Boeing Trading Up 0.4%

Shares of NYSE BA opened at $198.41 on Friday. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $218.80. The stock has a 50 day moving average of $193.38 and a 200-day moving average of $178.45. The company has a market capitalization of $149.60 billion, a P/E ratio of -11.07 and a beta of 1.43.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, topping the consensus estimate of ($1.39) by $0.90. The business had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.57 billion. During the same quarter in the prior year, the firm posted ($1.13) earnings per share. The business’s revenue was up 17.7% compared to the same quarter last year. Analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal 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.