Crowley Wealth Management Inc. Decreases Position in The Boeing Company (NYSE:BA)

Crowley Wealth Management Inc. lessened its holdings in shares of The Boeing Company (NYSE:BA) by 15.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 714 shares of the aircraft producer’s stock after selling 130 shares during the quarter. Crowley Wealth Management Inc.’s holdings in Boeing were worth $122,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sierra Ocean LLC purchased a new position in Boeing in the 4th quarter worth $26,000. American National Bank & Trust raised its stake in shares of 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 buying an additional 128 shares during the last quarter. HighMark Wealth Management LLC raised its stake in shares of Boeing by 121.6% during the 4th quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock valued at $29,000 after buying an additional 90 shares during the last quarter. REAP Financial Group LLC raised its stake in shares of 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 buying an additional 65 shares during the last quarter. Finally, Anfield Capital Management LLC raised its stake in shares of Boeing by 113.1% during 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 last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Down 4.8%

Shares of Boeing stock opened at $203.75 on Friday. The firm has a market cap of $153.63 billion, a P/E ratio of -11.12 and a beta of 1.43. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $218.80. The business has a 50-day moving average price of $187.71 and a 200 day moving average price of $176.42.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, beating the consensus estimate of ($1.39) by $0.90. The company had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.57 billion. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period last year, the company posted ($1.13) earnings per share. As a group, equities research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Jeffrey S. Shockey sold 3,205 shares of the firm’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total transaction of $650,198.35. Following the completion of the sale, the executive vice president now directly owns 20,513 shares of the company’s stock, valued at $4,161,472.31. This trade represents a 13.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Brendan J. Nelson sold 640 shares of the firm’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 of the company’s stock, valued at approximately $2,734,860.24. This represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,744 shares of company stock valued at $1,511,370 in the last three months. 0.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

BA has been the subject of a number of recent research reports. 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. Morgan Stanley reiterated an “equal weight” rating and set a $200.00 price objective on shares of Boeing in a research note on Thursday. The Goldman Sachs Group reiterated a “buy” rating and set a $212.00 price objective on shares of Boeing in a research note on Thursday. Jefferies Financial Group lifted their price objective on Boeing from $230.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Finally, Wells Fargo & Company reiterated an “underweight” rating on shares of Boeing in a research note on Thursday, May 22nd. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $209.85.

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.