Pinnacle Bancorp Inc. Sells 232 Shares of The Boeing Company (NYSE:BA)

Pinnacle Bancorp Inc. trimmed its holdings in The Boeing Company (NYSE:BA) by 47.0% in the first quarter, Holdings Channel reports. The institutional investor owned 262 shares of the aircraft producer’s stock after selling 232 shares during the period. Pinnacle Bancorp Inc.’s holdings in Boeing were worth $45,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Keynote Financial Services LLC increased its stake in Boeing by 3.8% during the 4th quarter. Keynote Financial Services LLC now owns 1,542 shares of the aircraft producer’s stock worth $273,000 after acquiring an additional 57 shares during the period. Trek Financial LLC grew its holdings in shares of Boeing by 2.7% during the 4th quarter. Trek Financial LLC now owns 2,307 shares of the aircraft producer’s stock worth $408,000 after purchasing an additional 60 shares in the last quarter. Colonial Trust Co SC increased its position in shares of Boeing by 6.1% in the fourth quarter. Colonial Trust Co SC now owns 1,042 shares of the aircraft producer’s stock worth $184,000 after purchasing an additional 60 shares during the period. Mattern Wealth Management LLC increased its position in shares of Boeing by 4.9% in the first quarter. Mattern Wealth Management LLC now owns 1,311 shares of the aircraft producer’s stock worth $224,000 after purchasing an additional 61 shares during the period. Finally, HBW Advisory Services LLC raised its stake in Boeing by 4.3% in the first quarter. HBW Advisory Services LLC now owns 1,557 shares of the aircraft producer’s stock valued at $266,000 after purchasing an additional 64 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

Boeing Trading Down 0.9%

NYSE:BA opened at $199.09 on Thursday. The stock’s 50-day moving average is $195.98 and its 200-day moving average is $179.22. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $218.80. The stock has a market cap of $150.12 billion, a P/E ratio of -11.11 and a beta of 1.43.

Boeing (NYSE:BA) last posted 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 analyst estimates of $19.57 billion. During the same quarter in the prior year, the business earned ($1.13) earnings per share. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. As a group, equities analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BA. UBS Group increased their price objective on shares of Boeing from $207.00 to $226.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Sanford C. Bernstein upgraded shares of Boeing from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $181.00 to $218.00 in a research report on Monday, April 28th. Melius upgraded shares of Boeing from a “hold” rating to a “buy” rating in a research report on Monday, March 24th. TD Securities cut Boeing to a “cautious” rating in a research note on Thursday, May 22nd. Finally, Wells Fargo & Company reiterated an “underweight” rating on shares of Boeing in a research note on Thursday, May 22nd. Four research analysts have rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $209.85.

Insider Activity

In related 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 value of $132,019.20. Following the completion of the sale, the senior vice president now directly owns 13,258 shares in the company, valued at $2,734,860.24. This represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David Christopher Raymond sold 3,899 shares of the firm’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total value of $729,151.99. Following the transaction, the executive vice president now directly owns 42,513 shares of the company’s stock, valued at approximately $7,950,356.13. This represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,744 shares of company stock valued at $1,511,370. Insiders own 0.09% of the company’s stock.

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.