First Interstate Bank Lowers Stock Position in The Boeing Company (NYSE:BA)

First Interstate Bank lessened its stake in shares of The Boeing Company (NYSE:BA) by 10.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,545 shares of the aircraft producer’s stock after selling 287 shares during the quarter. First Interstate Bank’s holdings in Boeing were worth $663,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC raised its holdings in Boeing by 109,667.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 16,055,730 shares of the aircraft producer’s stock worth $3,058,456,000 after purchasing an additional 16,041,103 shares in the last quarter. Barclays PLC raised its holdings in Boeing by 599.0% during the second quarter. Barclays PLC now owns 1,522,410 shares of the aircraft producer’s stock worth $321,475,000 after purchasing an additional 1,827,485 shares in the last quarter. Lazard Asset Management LLC raised its holdings in Boeing by 8,961.2% during the third quarter. Lazard Asset Management LLC now owns 1,161,461 shares of the aircraft producer’s stock worth $222,628,000 after purchasing an additional 1,148,643 shares in the last quarter. Morgan Stanley raised its holdings in Boeing by 11.7% during the fourth quarter. Morgan Stanley now owns 8,321,871 shares of the aircraft producer’s stock worth $1,585,234,000 after purchasing an additional 872,795 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in 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 purchasing an additional 759,267 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

BA stock traded up $2.73 during trading on Tuesday, hitting $170.55. The stock had a trading volume of 7,976,912 shares, compared to its average volume of 9,853,187. The company’s 50 day moving average price is $193.45 and its two-hundred day moving average price is $207.95. The Boeing Company has a 1-year low of $167.53 and a 1-year high of $267.54. The stock has a market cap of $104.06 billion, a price-to-earnings ratio of -46.03, a price-to-earnings-growth ratio of 115.71 and a beta of 1.52.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.25. The firm had revenue of $22.02 billion during the quarter, compared to analyst estimates of $21.14 billion. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.75) EPS. As a group, sell-side analysts forecast that The Boeing Company will post 0.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BA has been the topic of a number of research reports. Benchmark restated a “buy” rating and set a $250.00 target price on shares of Boeing in a research report on Tuesday, March 26th. The Goldman Sachs Group lowered their target price on shares of Boeing from $268.00 to $257.00 and set a “buy” rating on the stock in a research report on Monday, March 25th. UBS Group lowered their target price on shares of Boeing from $275.00 to $250.00 and set a “buy” rating on the stock in a research report on Thursday, March 21st. Susquehanna lowered their target price on shares of Boeing from $265.00 to $230.00 and set a “positive” rating on the stock in a research report on Thursday, March 21st. Finally, Northcoast Research lowered shares of Boeing from a “buy” rating to a “neutral” rating in a research report on Friday, February 23rd. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $233.88.

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.