SlateStone Wealth LLC Sells 96 Shares of The Boeing Company (NYSE:BA)

SlateStone Wealth LLC lowered its position in The Boeing Company (NYSE:BA) by 3.9% in the 1st quarter, Holdings Channel reports. The firm owned 2,396 shares of the aircraft producer’s stock after selling 96 shares during the quarter. SlateStone Wealth LLC’s holdings in Boeing were worth $409,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Castlekeep Investment Advisors LLC bought a new position in Boeing in the 4th quarter worth about $568,000. Alyeska Investment Group L.P. bought a new position in Boeing in the fourth quarter worth approximately $526,889,000. Zimmer Partners LP bought a new position in Boeing in the fourth quarter worth approximately $393,736,000. Northern Trust Corp increased 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 purchasing an additional 1,634,231 shares during the period. Finally, Sculptor Capital LP bought a new stake in Boeing during the 4th quarter valued at $265,500,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Insider Buying and Selling

In other news, SVP Brendan J. Nelson sold 640 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president directly owned 13,258 shares in the company, valued at $2,734,860.24. This trade represents a 4.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing 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 directly owned 20,513 shares of the company’s stock, valued at $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 7,744 shares of company stock worth $1,511,370 in the last 90 days. Insiders own 0.09% of the company’s stock.

Boeing Stock Down 0.0%

BA opened at $226.00 on Thursday. The company has a market cap of $170.41 billion, a P/E ratio of -13.69 and a beta of 1.41. The firm’s 50-day moving average price is $214.47 and its 200-day moving average price is $187.94. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69.

Boeing (NYSE:BA) last issued its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.32). The business had revenue of $22.75 billion for the quarter, compared to analyst estimates of $20.13 billion. During the same quarter last year, the firm earned ($2.90) EPS. The company’s quarterly revenue was up 34.9% compared to the same quarter last year. On average, research analysts anticipate that The Boeing Company will post -2.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BA has been the topic of a number of recent research reports. Cowen reissued a “buy” rating on shares of Boeing in a research report on Wednesday, May 7th. Wall Street Zen lowered shares of Boeing from a “hold” rating to a “sell” rating in a research note on Saturday, May 17th. Wells Fargo & Company reissued an “underweight” rating on shares of Boeing in a research report on Thursday, May 22nd. Redburn Atlantic upgraded shares of Boeing from a “hold” rating to a “strong-buy” rating and boosted their price target for the company from $180.00 to $275.00 in a report on Friday, June 27th. Finally, UBS Group increased their price objective on shares of Boeing from $255.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, three have issued a hold rating, eighteen have assigned a buy rating and three have given 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 target price of $228.73.

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.