Verdence Capital Advisors LLC Has $2.21 Million Stock Holdings in The Boeing Company (NYSE:BA)

Verdence Capital Advisors LLC lowered its position in shares of The Boeing Company (NYSE:BA) by 8.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 12,478 shares of the aircraft producer’s stock after selling 1,094 shares during the period. Verdence Capital Advisors LLC’s holdings in Boeing were worth $2,209,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Keynote Financial Services LLC lifted its holdings 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 purchasing an additional 57 shares in the last quarter. Chaney Capital Management Inc. lifted its holdings in Boeing by 2.1% during the 4th quarter. Chaney Capital Management Inc. now owns 2,870 shares of the aircraft producer’s stock worth $508,000 after purchasing an additional 58 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in Boeing by 0.6% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 10,608 shares of the aircraft producer’s stock worth $1,878,000 after purchasing an additional 59 shares in the last quarter. Center for Financial Planning Inc. lifted its holdings in Boeing by 12.0% during the 4th quarter. Center for Financial Planning Inc. now owns 562 shares of the aircraft producer’s stock worth $99,000 after purchasing an additional 60 shares in the last quarter. Finally, Transcend Capital Advisors LLC lifted its holdings in Boeing by 1.3% during the 4th quarter. Transcend Capital Advisors LLC now owns 4,923 shares of the aircraft producer’s stock worth $871,000 after purchasing an additional 61 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Insider Buying and Selling

In other news, EVP Uma M. Amuluru sold 3,159 shares of Boeing stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total value of $570,799.71. Following the sale, the executive vice president now directly owns 19,213 shares in the company, valued at approximately $3,471,596.97. This trade represents a 14.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by corporate insiders.

Boeing Price Performance

BA opened at $163.34 on Thursday. The stock’s 50 day simple moving average is $176.00 and its 200 day simple moving average is $164.49. The Boeing Company has a 1 year low of $137.03 and a 1 year high of $203.80. The firm has a market cap of $122.52 billion, a price-to-earnings ratio of -8.92 and a beta of 1.52.

Boeing (NYSE:BA) last posted its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period last year, the company posted ($0.47) earnings per share. As a group, sell-side analysts anticipate that The Boeing Company will post -2.58 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on BA shares. Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $190.00 to $210.00 in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft raised their price target on Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Citigroup raised their price target on Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a report on Monday, February 10th. JPMorgan Chase & Co. raised their price target on Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Boeing in a report on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $195.16.

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.