Estabrook Capital Management Trims Stock Holdings in The Boeing Company (NYSE:BA)

Estabrook Capital Management decreased its stake in shares of The Boeing Company (NYSE:BA) by 12.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor 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 SEC filing.

Several other large investors have also added to or reduced their stakes in BA. Vanguard Group Inc. lifted its holdings in shares of Boeing by 24.4% in the fourth quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock worth $11,406,361,000 after buying an additional 12,641,715 shares in the last quarter. Geode Capital Management LLC boosted its holdings in 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 purchasing an additional 3,452,075 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Boeing during the 4th quarter valued at $230,944,000. Amundi increased its holdings in shares of Boeing by 473.6% in the fourth quarter. Amundi now owns 1,565,337 shares of the aircraft producer’s stock worth $268,862,000 after purchasing an additional 1,292,417 shares during the period. Finally, Burkehill Global Management LP bought a new stake in Boeing during the fourth quarter valued at $212,400,000. Institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

NYSE BA opened at $139.20 on Wednesday. The business’s fifty day moving average is $170.17 and its 200 day moving average is $163.90. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $196.95. The company has a market capitalization of $104.41 billion, a PE ratio of -7.60 and a beta of 1.24.

Boeing (NYSE:BA) last issued its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period last year, the firm earned ($0.47) EPS. On average, sell-side analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Insider Buying and Selling

In related news, EVP Uma M. Amuluru sold 3,159 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $180.69, for a total transaction of $570,799.71. Following the transaction, 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 sale was disclosed in a filing with the SEC, which is available at this link. 0.09% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BA shares. Citigroup raised their target price on shares of Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Wells Fargo & Company lifted their price target on Boeing from $103.00 to $113.00 and gave the stock an “underweight” rating in a research note on Monday, March 17th. JPMorgan Chase & Co. raised their price objective on Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Melius Research set a $204.00 target price on shares of Boeing in a report on Monday, March 24th. Finally, StockNews.com upgraded shares of Boeing to a “sell” rating in a report on Saturday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $196.10.

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.