Smart Portfolios LLC Lowers Holdings in The Boeing Company (NYSE:BA)

Smart Portfolios LLC reduced its position in shares of The Boeing Company (NYSE:BA) by 7.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,729 shares of the aircraft producer’s stock after selling 205 shares during the period. Smart Portfolios LLC’s holdings in Boeing were worth $483,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in Boeing by 2.3% in the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after acquiring an additional 636,594 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Boeing by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock valued at $1,774,705,000 after acquiring an additional 320,415 shares during the period. Jennison Associates LLC lifted its position in shares of Boeing by 9.9% during the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after purchasing an additional 602,143 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Boeing by 3.4% during the 4th quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer’s stock valued at $890,469,000 after buying an additional 164,042 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake 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 buying an additional 981,796 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Stock Performance

NYSE BA opened at $154.19 on Wednesday. The Boeing Company has a one year low of $137.03 and a one year high of $196.95. The company has a market capitalization of $115.65 billion, a price-to-earnings ratio of -8.42 and a beta of 1.53. The company’s 50-day simple moving average is $174.00 and its two-hundred day simple moving average is $163.83.

Boeing (NYSE:BA) last released its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same quarter in the previous year, the business earned ($0.47) EPS. Equities analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Transactions at Boeing

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total transaction 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. The trade was a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BA shares. Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. UBS Group lifted their target price on shares of Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Citigroup raised their price target on shares of Boeing from $207.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. raised their price target on Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.