Ropes Wealth Advisors LLC Reduces Stock Holdings in The Boeing Company (NYSE:BA)

Ropes Wealth Advisors LLC reduced its stake in The Boeing Company (NYSE:BA) by 1.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 7,407 shares of the aircraft producer’s stock after selling 80 shares during the period. Ropes Wealth Advisors LLC’s holdings in The Boeing were worth $1,695,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Calton & Associates Inc. grew its position in shares of The Boeing by 12.0% during the first quarter. Calton & Associates Inc. now owns 7,805 shares of the aircraft producer’s stock worth $1,988,000 after acquiring an additional 838 shares during the last quarter. FMR LLC grew its position in shares of The Boeing by 75.9% during the fourth quarter. FMR LLC now owns 6,095,082 shares of the aircraft producer’s stock worth $1,304,713,000 after acquiring an additional 2,629,054 shares during the last quarter. Haverford Trust Co. grew its position in shares of The Boeing by 11.2% during the fourth quarter. Haverford Trust Co. now owns 5,704 shares of the aircraft producer’s stock worth $1,221,000 after acquiring an additional 575 shares during the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC lifted its holdings in shares of The Boeing by 5.0% during the fourth quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 4,631 shares of the aircraft producer’s stock worth $991,000 after purchasing an additional 219 shares during the period. Finally, Trust Co. of Toledo NA OH lifted its holdings in shares of The Boeing by 8.0% during the first quarter. Trust Co. of Toledo NA OH now owns 8,081 shares of the aircraft producer’s stock worth $2,058,000 after purchasing an additional 597 shares during the period. Institutional investors own 53.84% of the company’s stock.

BA has been the subject of a number of recent analyst reports. Susquehanna Bancshares raised their target price on The Boeing from $250.00 to $300.00 and gave the company a “positive” rating in a report on Friday, March 19th. Susquehanna raised their target price on The Boeing from $250.00 to $300.00 and gave the company a “positive” rating in a report on Friday, March 19th. Benchmark reduced their target price on The Boeing from $290.00 to $270.00 and set a “buy” rating for the company in a report on Friday, February 19th. Wells Fargo & Company initiated coverage on The Boeing in a report on Tuesday, May 18th. They issued an “equal weight” rating and a $244.00 target price for the company. Finally, UBS Group reissued a “buy” rating and issued a $310.00 target price on shares of The Boeing in a report on Thursday, April 29th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The Boeing has an average rating of “Hold” and a consensus target price of $252.35.

In other news, insider Carol J. Hibbard sold 2,000 shares of The Boeing stock in a transaction dated Thursday, May 13th. The stock was sold at an average price of $224.97, for a total value of $449,940.00. Following the transaction, the insider now directly owns 7,462 shares of the company’s stock, valued at approximately $1,678,726.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

BA traded down $1.21 during midday trading on Friday, hitting $247.13. The company’s stock had a trading volume of 142,914 shares, compared to its average volume of 14,857,263. The firm has a market capitalization of $144.52 billion, a price-to-earnings ratio of -12.08 and a beta of 1.62. The firm has a 50-day simple moving average of $241.47. The Boeing Company has a 52-week low of $141.58 and a 52-week high of $278.57.

The Boeing (NYSE:BA) last posted its quarterly earnings results on Tuesday, April 27th. The aircraft producer reported ($1.53) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.36). The business had revenue of $15.22 billion during the quarter, compared to the consensus estimate of $15.95 billion. The Boeing’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same period last year, the business earned ($1.70) EPS. On average, sell-side analysts expect that The Boeing Company will post -0.3 earnings per share for the current year.

The Boeing Company Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

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Institutional Ownership by Quarter for The Boeing (NYSE:BA)

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