Fort Sheridan Advisors LLC Lowers Stake in The Boeing Company (NYSE:BA)

Fort Sheridan Advisors LLC cut its stake in The Boeing Company (NYSE:BA) by 24.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,774 shares of the aircraft producer’s stock after selling 11,327 shares during the period. Boeing comprises about 0.9% of Fort Sheridan Advisors LLC’s investment portfolio, making the stock its 23rd largest position. Fort Sheridan Advisors LLC’s holdings in Boeing were worth $6,332,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in BA. Van ECK Associates Corp raised its stake in shares of Boeing by 122.0% during the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock valued at $357,712,000 after acquiring an additional 1,251,456 shares in the last quarter. Franklin Resources Inc. increased its holdings in Boeing by 1,296.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock worth $169,386,000 after purchasing an additional 1,055,472 shares during the period. State Street Corp raised its position in Boeing by 2.3% during the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after purchasing an additional 636,594 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Boeing by 9.9% in the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after buying an additional 602,143 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Boeing by 17.4% during the 4th quarter. Bank of New York Mellon Corp now owns 3,921,417 shares of the aircraft producer’s stock worth $694,091,000 after buying an additional 581,987 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

BA has been the subject of several recent research reports. Susquehanna lifted their price objective on Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Wells Fargo & Company boosted their price target on shares of Boeing from $85.00 to $103.00 and gave the company an “underweight” rating in a report on Wednesday, January 29th. 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. JPMorgan Chase & Co. boosted their price objective on shares of Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, Citigroup increased their target price on Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Boeing has a consensus rating of “Moderate Buy” and a consensus price target of $195.16.

Insider Buying and Selling

In other news, EVP Uma M. Amuluru sold 3,159 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following the sale, the executive vice president now directly owns 19,213 shares of the company’s stock, valued at $3,471,596.97. This represents a 14.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Boeing Stock Up 0.4 %

BA stock opened at $173.65 on Friday. The stock has a market capitalization of $130.25 billion, a PE ratio of -9.48 and a beta of 1.52. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $208.10. The firm has a 50 day moving average of $176.92 and a 200 day moving average of $164.67.

Boeing (NYSE:BA) last posted its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter last year, the firm posted ($0.47) earnings per share. On average, equities research analysts expect that The Boeing Company will post -2.58 earnings per share for the current year.

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.