SlateStone Wealth LLC Sells 158 Shares of The Boeing Company (NYSE:BA)

SlateStone Wealth LLC reduced its position in The Boeing Company (NYSE:BA) by 5.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,566 shares of the aircraft producer’s stock after selling 158 shares during the quarter. SlateStone Wealth LLC’s holdings in Boeing were worth $669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Boeing by 0.8% during the third quarter. Vanguard Group Inc. now owns 47,609,508 shares of the aircraft producer’s stock worth $9,125,790,000 after acquiring an additional 356,496 shares during the last quarter. Morgan Stanley boosted its position in shares of Boeing by 1.1% during the third quarter. Morgan Stanley now owns 8,362,267 shares of the aircraft producer’s stock worth $1,602,880,000 after acquiring an additional 91,801 shares during the last quarter. Northern Trust Corp boosted its position in shares of Boeing by 3.2% during the third quarter. Northern Trust Corp now owns 4,951,181 shares of the aircraft producer’s stock worth $949,042,000 after acquiring an additional 153,168 shares during the last quarter. Jennison Associates LLC bought a new position in shares of Boeing during the fourth quarter worth $960,397,000. Finally, Invesco Ltd. boosted its position in shares of Boeing by 30.1% during the third quarter. Invesco Ltd. now owns 3,279,421 shares of the aircraft producer’s stock worth $628,599,000 after acquiring an additional 759,267 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Performance

Boeing stock traded down $1.75 during midday trading on Tuesday, hitting $168.73. 4,857,071 shares of the company’s stock were exchanged, compared to its average volume of 9,575,245. The Boeing Company has a 12 month low of $167.53 and a 12 month high of $267.54. The firm has a 50-day moving average of $189.51 and a two-hundred day moving average of $207.32. The company has a market cap of $102.95 billion, a PE ratio of -46.18, a P/E/G ratio of 134.48 and a beta of 1.52.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.25. The business had revenue of $22.02 billion for the quarter, compared to the consensus estimate of $21.14 billion. During the same quarter in the previous year, the company earned ($1.75) earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. As a group, equities analysts expect that The Boeing Company will post 0.32 earnings per share for the current year.

Analyst Ratings Changes

BA has been the subject of a number of research reports. Susquehanna dropped their target price on shares of Boeing from $265.00 to $230.00 and set a “positive” rating for the company in a research report on Thursday, March 21st. Royal Bank of Canada dropped their target price on shares of Boeing from $225.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, April 16th. TD Cowen lowered their price objective on shares of Boeing from $275.00 to $230.00 and set an “outperform” rating for the company in a research report on Monday, March 25th. Sanford C. Bernstein lowered their price objective on shares of Boeing from $272.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, April 8th. Finally, Benchmark reiterated a “buy” rating and set a $250.00 price objective on shares of Boeing in a research report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $226.71.

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.