Horizon Bancorp Inc. IN Cuts Holdings in The Boeing Company (NYSE:BA)

Horizon Bancorp Inc. IN trimmed its holdings in shares of The Boeing Company (NYSE:BA) by 60.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 668 shares of the aircraft producer’s stock after selling 1,042 shares during the quarter. Horizon Bancorp Inc. IN’s holdings in Boeing were worth $114,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings 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 purchasing an additional 12,641,715 shares during the last quarter. Geode Capital Management LLC grew its holdings in Boeing by 29.5% in the fourth quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock worth $2,677,170,000 after purchasing an additional 3,452,075 shares during the last quarter. Northern Trust Corp grew its holdings in Boeing by 33.6% in the fourth quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer’s stock worth $1,151,316,000 after purchasing an additional 1,634,231 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Boeing by 3.4% in the fourth quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer’s stock worth $890,469,000 after purchasing an additional 164,042 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Boeing by 30.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,178,444 shares of the aircraft producer’s stock worth $739,585,000 after purchasing an additional 981,796 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Brendan J. Nelson sold 640 shares of the company’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $206.28, for a total transaction of $132,019.20. Following the completion of the transaction, the senior vice president now owns 13,258 shares in the company, valued at $2,734,860.24. This represents a 4.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $650,198.35. Following the transaction, the executive vice president now owns 20,513 shares of the company’s stock, valued at approximately $4,161,472.31. This trade represents a 13.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,744 shares of company stock worth $1,511,370 in the last 90 days. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BA shares. Jefferies Financial Group boosted their price objective on shares of Boeing from $230.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. Cowen reissued a “buy” rating on shares of Boeing in a report on Wednesday, May 7th. Melius raised shares of Boeing from a “hold” rating to a “buy” rating in a report on Monday, March 24th. Wells Fargo & Company reissued an “underweight” rating on shares of Boeing in a report on Thursday, May 22nd. Finally, UBS Group boosted their price objective on shares of Boeing from $207.00 to $226.00 and gave the company a “buy” rating in a report on Friday, May 9th. 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 assigned a strong buy rating to the company. According to data from MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and an average price target of $209.85.

Boeing Stock Performance

Shares of Boeing stock opened at $201.04 on Wednesday. The firm has a 50-day simple moving average of $195.13 and a two-hundred day simple moving average of $179.09. The company has a market cap of $151.58 billion, a P/E ratio of -11.22 and a beta of 1.43. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $218.80.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.39) by $0.90. The firm had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.57 billion. During the same quarter last year, the company posted ($1.13) EPS. The company’s revenue was up 17.7% on a year-over-year basis. Equities research analysts forecast 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.