Sumitomo Mitsui Trust Holdings Inc. Trims Position in The Boeing Company (NYSE:BA)

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in The Boeing Company (NYSE:BA) by 1.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,635,803 shares of the aircraft producer’s stock after selling 30,656 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Boeing were worth $426,388,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of BA. CNB Bank raised its stake in Boeing by 106.5% in the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock valued at $25,000 after purchasing an additional 66 shares in the last quarter. True Wealth Design LLC purchased a new stake in shares of Boeing during the 4th quarter valued at $33,000. M&R Capital Management Inc. lifted its holdings in shares of Boeing by 35.0% during the 4th quarter. M&R Capital Management Inc. now owns 193 shares of the aircraft producer’s stock worth $50,000 after acquiring an additional 50 shares during the last quarter. Keener Financial Planning LLC purchased a new position in Boeing in the fourth quarter worth $52,000. Finally, Fortis Capital Advisors LLC grew its position in Boeing by 100.0% in the first quarter. Fortis Capital Advisors LLC now owns 200 shares of the aircraft producer’s stock worth $42,000 after acquiring an additional 100 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Price Performance

Shares of BA stock traded down $3.81 during trading hours on Friday, reaching $169.55. The company’s stock had a trading volume of 7,568,297 shares, compared to its average volume of 7,577,862. The Boeing Company has a one year low of $169.37 and a one year high of $267.54. The firm’s fifty day simple moving average is $194.23 and its 200 day simple moving average is $208.02.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.25. The company had revenue of $22.02 billion during the quarter, compared to the consensus estimate of $21.14 billion. During the same quarter last year, the firm earned ($1.75) EPS. The business’s revenue was up 10.2% on a year-over-year basis. On average, equities research analysts anticipate that The Boeing Company will post 0.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BA. Benchmark reaffirmed a “buy” rating and set a $250.00 price target on shares of Boeing in a research note on Tuesday, March 26th. Citigroup dropped their target price on Boeing from $263.00 to $252.00 and set a “buy” rating for the company in a research report on Thursday, March 28th. Stifel Nicolaus reduced their price target on shares of Boeing from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday. Sanford C. Bernstein decreased their price target on shares of Boeing from $272.00 to $240.00 and set an “outperform” rating on the stock in a research note on Monday, April 8th. Finally, Susquehanna cut their price objective on shares of Boeing from $265.00 to $230.00 and set a “positive” rating for the company in a research note on Thursday, March 21st. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $236.53.

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.