Estabrook Capital Management Sells 1,571 Shares of The Boeing Company (NYSE:BA)

Estabrook Capital Management cut its holdings in shares of The Boeing Company (NYSE:BA) by 12.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,932 shares of the aircraft producer’s stock after selling 1,571 shares during the period. Estabrook Capital Management’s holdings in Boeing were worth $1,935,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of BA. Vanguard Group Inc. raised its position in shares of Boeing by 24.4% in the 4th quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock valued at $11,406,361,000 after acquiring an additional 12,641,715 shares during the period. Geode Capital Management LLC grew its holdings in shares of Boeing by 29.5% in the 4th quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock valued at $2,677,170,000 after buying an additional 3,452,075 shares during the period. Raymond James Financial Inc. bought a new position in shares of Boeing during the 4th quarter valued at about $230,944,000. Amundi grew its position in shares of Boeing by 473.6% in the 4th 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 period. Finally, Burkehill Global Management LP bought a new position in Boeing in the fourth quarter valued at approximately $212,400,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on BA. UBS Group upped their target price 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. Susquehanna lifted their target price on Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Citigroup upped their price target on Boeing from $207.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Melius Research set a $204.00 price objective on shares of Boeing in a report on Monday, March 24th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Boeing in a report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $196.10.

Boeing Stock Performance

Boeing stock opened at $139.20 on Wednesday. The stock has a fifty day moving average of $170.17 and a 200-day moving average of $163.90. The stock has a market capitalization of $104.41 billion, a P/E ratio of -7.60 and a beta of 1.24. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $196.95.

Boeing (NYSE:BA) last posted its 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 previous year, the company posted ($0.47) earnings per share. On average, research analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Transactions at Boeing

In related news, EVP Uma M. Amuluru sold 3,159 shares of the 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 transaction, the executive vice president now directly owns 19,213 shares in the company, valued at $3,471,596.97. This trade represents a 14.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.09% of the company’s stock.

Boeing Company Profile

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.