Sterling Investment Management LLC Sells 127 Shares of The Boeing Company (NYSE:BA)

Sterling Investment Management LLC lessened its position in The Boeing Company (NYSE:BA) by 1.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 10,916 shares of the aircraft producer’s stock after selling 127 shares during the period. Boeing makes up about 1.3% of Sterling Investment Management LLC’s holdings, making the stock its 25th largest position. Sterling Investment Management LLC’s holdings in Boeing were worth $1,862,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Amundi raised its stake in shares of Boeing by 473.6% in the fourth quarter. Amundi now owns 1,565,337 shares of the aircraft producer’s stock worth $268,862,000 after purchasing an additional 1,292,417 shares during the last quarter. KKM Financial LLC lifted its stake in Boeing by 50.8% during the 4th quarter. KKM Financial LLC now owns 15,368 shares of the aircraft producer’s stock valued at $2,720,000 after acquiring an additional 5,175 shares in the last quarter. Wynn Capital LLC bought a new stake in shares of Boeing in the 1st quarter worth $584,000. Grant Private Wealth Management Inc purchased a new stake in shares of Boeing in the fourth quarter valued at about $903,000. Finally, Winslow Asset Management Inc. boosted its holdings in Boeing by 8.2% during the fourth quarter. Winslow Asset Management Inc. now owns 40,761 shares of the aircraft producer’s stock worth $7,215,000 after purchasing an additional 3,096 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Insider Activity at Boeing

In related news, EVP David Christopher Raymond sold 3,899 shares of the firm’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 transaction, the executive vice president now directly owns 42,513 shares in the company, valued at $7,950,356.13. This trade represents a 8.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The shares were 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 owns 20,513 shares of the company’s stock, valued at $4,161,472.31. The trade was a 13.51% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,744 shares of company stock valued at $1,511,370. Corporate insiders own 0.09% of the company’s stock.

Boeing Price Performance

Shares of Boeing stock opened at $214.08 on Thursday. The company has a 50 day simple moving average of $186.41 and a two-hundred day simple moving average of $176.08. The firm has a market cap of $161.42 billion, a PE ratio of -11.69 and a beta of 1.43. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $218.80.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.39) by $0.90. The company had revenue of $19.50 billion during the quarter, compared to analysts’ expectations of $19.57 billion. During the same quarter last year, the firm posted ($1.13) earnings per share. The firm’s revenue was up 17.7% on a year-over-year basis. As a group, research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on BA shares. Cowen reissued a “buy” rating on shares of Boeing in a research report on Wednesday, May 7th. TD Securities lowered Boeing to a “cautious” rating in a report on Thursday, May 22nd. Melius Research set a $204.00 price objective on Boeing in a research report on Monday, March 24th. Royal Bank of Canada upped their price objective on Boeing from $200.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Melius raised shares of Boeing from a “hold” rating to a “buy” rating in a report on Monday, March 24th. Three analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.35.

Boeing 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.