The Boeing Company (NYSE:BA) Shares Sold by Charter Oak Capital Management LLC

Charter Oak Capital Management LLC decreased its stake in shares of The Boeing Company (NYSE:BA) by 4.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,853 shares of the aircraft producer’s stock after selling 83 shares during the period. Charter Oak Capital Management LLC’s holdings in Boeing were worth $316,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Sierra Ocean LLC acquired a new position in Boeing in the fourth quarter valued at $26,000. American National Bank & Trust lifted its stake in shares of Boeing by 474.1% in the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock worth $26,000 after acquiring an additional 128 shares in the last quarter. HighMark Wealth Management LLC lifted its stake in shares of Boeing by 121.6% in the fourth quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock worth $29,000 after acquiring an additional 90 shares in the last quarter. REAP Financial Group LLC increased its holdings in Boeing by 60.2% in the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer’s stock valued at $31,000 after buying an additional 65 shares during the last quarter. Finally, Anfield Capital Management LLC increased its holdings in Boeing by 113.1% in the fourth quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer’s stock valued at $32,000 after buying an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Up 1.0%

NYSE BA opened at $211.03 on Friday. The firm has a market capitalization of $159.12 billion, a price-to-earnings ratio of -11.52 and a beta of 1.43. The firm’s 50 day simple moving average is $182.59 and its 200 day simple moving average is $174.84. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $215.80.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.39) by $0.90. The company had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.57 billion. The business’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.13) EPS. On average, equities research analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP David Christopher Raymond sold 3,899 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $187.01, for a total value of $729,151.99. Following the completion of the sale, the executive vice president now owns 42,513 shares in the company, valued at $7,950,356.13. This represents a 8.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Brendan J. Nelson sold 640 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $206.28, for a total transaction of $132,019.20. Following the completion of the sale, the senior vice president now owns 13,258 shares of the company’s stock, valued at approximately $2,734,860.24. This represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,744 shares of company stock valued at $1,511,370 over the last quarter. Insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on BA shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of Boeing in a report on Wednesday, April 23rd. Bank of America upgraded Boeing from a “neutral” rating to a “buy” rating and upped their target price for the stock from $185.00 to $260.00 in a research report on Monday, June 2nd. UBS Group upped their target price on Boeing from $207.00 to $226.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Melius raised Boeing from a “hold” rating to a “buy” rating in a research note on Monday, March 24th. Finally, Benchmark reduced their price objective on Boeing from $250.00 to $215.00 and set a “buy” rating for the company in a research note on Monday, April 21st. Three investment 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $207.85.

About Boeing

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.