Nemes Rush Group LLC Cuts Position in The Boeing Company (NYSE:BA)

by · The Cerbat Gem

Nemes Rush Group LLC reduced its holdings in shares of The Boeing Company (NYSE:BA – Free Report) by 16.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,632 shares of the aircraft producer’s stock after selling 322 shares during the quarter. Nemes Rush Group LLC’s holdings in Boeing were worth $289,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Boeing by 24.4% during the 4th quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock worth $11,406,361,000 after purchasing an additional 12,641,715 shares during the period. State Street Corp boosted its position in shares of Boeing by 2.3% in the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after buying an additional 636,594 shares during the period. Geode Capital Management LLC grew its stake in shares of Boeing by 2.8% in the third quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock valued at $1,774,705,000 after buying an additional 320,415 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Boeing by 3.4% during the 4th quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer’s stock valued at $890,469,000 after buying an additional 164,042 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Boeing by 30.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,178,444 shares of the aircraft producer’s stock worth $739,585,000 after acquiring an additional 981,796 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on BA. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. UBS Group lifted their price target on shares of Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Barclays upgraded Boeing from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $190.00 to $210.00 in a research note on Monday, January 6th. Citigroup lifted their target price on Boeing from $207.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Finally, Susquehanna increased their price target on Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $195.68.

Check Out Our Latest Stock Report on BA

Insider Buying and Selling at Boeing

In related news, EVP Uma M. Amuluru sold 3,159 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following the completion of the transaction, the executive vice president now owns 19,213 shares in the company, valued at $3,471,596.97. This represents a 14.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.09% of the stock is owned by company insiders.

Boeing Stock Performance

Boeing stock opened at $167.92 on Wednesday. The Boeing Company has a one year low of $137.03 and a one year high of $196.95. The company has a 50-day simple moving average of $173.82 and a 200-day simple moving average of $164.36. The firm has a market capitalization of $125.95 billion, a P/E ratio of -9.17 and a beta of 1.53.

Boeing (NYSE:BA – Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter in the prior year, the business posted ($0.47) EPS. As a group, sell-side analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

About Boeing

(Free Report)

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.

Further Reading

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