Kovitz Investment Group Partners LLC Sells 5,718 Shares of The Boeing Company (NYSE:BA)

by · The Cerbat Gem

Kovitz Investment Group Partners LLC lessened its stake in shares of The Boeing Company (NYSE:BA – Free Report) by 26.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 15,736 shares of the aircraft producer’s stock after selling 5,718 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Boeing were worth $2,785,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Keynote Financial Services LLC lifted its position in shares of Boeing by 3.8% in the 4th quarter. Keynote Financial Services LLC now owns 1,542 shares of the aircraft producer’s stock worth $273,000 after purchasing an additional 57 shares during the period. Chaney Capital Management Inc. raised its stake in Boeing by 2.1% during the fourth quarter. Chaney Capital Management Inc. now owns 2,870 shares of the aircraft producer’s stock worth $508,000 after buying an additional 58 shares during the last quarter. Farmers & Merchants Investments Inc. raised its stake in Boeing by 0.6% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 10,608 shares of the aircraft producer’s stock worth $1,878,000 after buying an additional 59 shares during the last quarter. Center for Financial Planning Inc. lifted its holdings in Boeing by 12.0% in the fourth quarter. Center for Financial Planning Inc. now owns 562 shares of the aircraft producer’s stock valued at $99,000 after buying an additional 60 shares during the period. Finally, Trek Financial LLC boosted its position in Boeing by 2.7% during the fourth quarter. Trek Financial LLC now owns 2,307 shares of the aircraft producer’s stock valued at $408,000 after acquiring an additional 60 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BA. Citigroup boosted their price objective on Boeing from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Boeing in a research note on Wednesday. Susquehanna raised their price objective on shares of Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. TD Securities reiterated a “buy” rating and set a $180.00 target price on shares of Boeing in a research report on Thursday. Finally, UBS Group raised their price target on shares of Boeing from $190.00 to $207.00 and gave the stock a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $198.45.

Check Out Our Latest Stock Analysis on BA

Boeing Stock Up 0.9 %

Boeing stock opened at $177.92 on Monday. The stock has a market cap of $134.15 billion, a P/E ratio of -9.71 and a beta of 1.24. The company’s 50 day moving average price is $164.87 and its two-hundred day moving average price is $164.82. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $196.95.

Boeing (NYSE:BA – Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.39) by $0.90. The business had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.57 billion. On average, equities analysts anticipate that The Boeing Company will post -2.58 EPS for the current year.

Boeing Company Profile

(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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