The Boeing Company (NYSE:BA) Shares Sold by Savvy Advisors Inc.

by · The Cerbat Gem

Savvy Advisors Inc. lowered its stake in The Boeing Company (NYSE:BA – Free Report) by 22.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,441 shares of the aircraft producer’s stock after selling 713 shares during the period. Savvy Advisors Inc.’s holdings in Boeing were worth $432,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BA. AdvisorNet Financial Inc raised its position in Boeing by 54.2% during the 4th quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock worth $358,000 after buying an additional 710 shares during the last quarter. Carnegie Investment Counsel increased its stake in shares of Boeing by 175.6% in the fourth quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock worth $818,000 after acquiring an additional 2,943 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Boeing by 6.1% during the third quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after purchasing an additional 38,332 shares during the last quarter. World Investment Advisors LLC lifted its position in Boeing by 243.4% during the third quarter. World Investment Advisors LLC now owns 5,381 shares of the aircraft producer’s stock valued at $818,000 after purchasing an additional 3,814 shares during the period. Finally, Amundi boosted its holdings in Boeing by 473.6% in the fourth quarter. Amundi now owns 1,565,337 shares of the aircraft producer’s stock valued at $268,862,000 after purchasing an additional 1,292,417 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of BA stock opened at $159.25 on Tuesday. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $196.95. The firm has a market capitalization of $119.45 billion, a P/E ratio of -8.69 and a beta of 1.24. The stock’s fifty day moving average is $168.23 and its two-hundred day moving average is $164.02.

Boeing (NYSE:BA – Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period in the previous year, the business posted ($0.47) EPS. On average, equities analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Transactions at Boeing

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total value of $570,799.71. Following the completion of the sale, the executive vice president now directly owns 19,213 shares of the company’s stock, valued at $3,471,596.97. This trade represents a 14.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BA. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research note on Wednesday, January 29th. Melius Research set a $204.00 price target on Boeing in a report on Monday, March 24th. Citigroup upped their price objective on Boeing from $207.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Wells Fargo & Company lifted their target price on shares of Boeing from $103.00 to $113.00 and gave the company an “underweight” rating in a report on Monday, March 17th. Finally, StockNews.com raised shares of Boeing to a “sell” rating in a report on Saturday, April 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and an average price target of $196.10.

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About Boeing

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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.

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