Highland Capital Management LLC Lowers Stock Holdings in The Boeing Company (NYSE:BA)

Highland Capital Management LLC trimmed its position in shares of The Boeing Company (NYSE:BA) by 3.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,095 shares of the aircraft producer’s stock after selling 1,616 shares during the quarter. Highland Capital Management LLC’s holdings in Boeing were worth $8,373,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BA. American National Bank & Trust boosted its holdings in Boeing by 474.1% during the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock valued at $26,000 after acquiring an additional 128 shares during the period. REAP Financial Group LLC boosted its holdings in Boeing by 60.2% during the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer’s stock valued at $31,000 after acquiring an additional 65 shares during the period. Anfield Capital Management LLC boosted its stake in shares of Boeing by 113.1% in the 4th 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 period. Dogwood Wealth Management LLC boosted its stake in shares of Boeing by 167.2% in the 4th quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer’s stock valued at $32,000 after buying an additional 112 shares during the period. Finally, Solstein Capital LLC purchased a new position in shares of Boeing in the 4th quarter valued at about $33,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on BA. Sanford C. Bernstein upgraded Boeing from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $181.00 to $218.00 in a research note on Monday, April 28th. The Goldman Sachs Group set a $212.00 price objective on Boeing and gave the company a “buy” rating in a research note on Thursday, June 12th. Bank of America upgraded Boeing from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $185.00 to $260.00 in a research note on Monday, June 2nd. Melius upgraded Boeing from a “hold” rating to a “buy” rating in a research note on Monday, March 24th. Finally, Citigroup restated a “buy” rating on shares of Boeing in a research note on Thursday, May 22nd. Four research analysts have rated the stock with a sell rating, three have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $215.77.

Boeing Price Performance

Boeing stock opened at $214.56 on Friday. The business has a 50 day simple moving average of $197.85 and a 200-day simple moving average of $179.88. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $218.80. The stock has a market capitalization of $161.78 billion, a PE ratio of -11.97 and a beta of 1.43.

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

Insider Buying and Selling at Boeing

In other news, SVP Brendan J. Nelson sold 640 shares of the company’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $206.28, for a total value of $132,019.20. Following the sale, the senior vice president now directly owns 13,258 shares in the company, valued at $2,734,860.24. This represents a 4.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the completion of the transaction, the executive vice president now owns 20,513 shares of the company’s stock, valued at $4,161,472.31. The trade was a 13.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,744 shares of company stock valued at $1,511,370. Insiders own 0.09% of the company’s stock.

Boeing Company 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.