Pinnacle Financial Partners Inc Has $425,000 Stock Position in The Boeing Company (NYSE:BA)

Pinnacle Financial Partners Inc lessened its stake in The Boeing Company (NYSE:BA) by 14.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,401 shares of the aircraft producer’s stock after selling 420 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Boeing were worth $425,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Sierra Ocean LLC bought a new stake in shares of Boeing during the fourth quarter worth about $26,000. Sugar Maple Asset Management LLC acquired a new stake in Boeing during the 4th quarter valued at approximately $27,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Boeing during the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. acquired a new stake in shares of Boeing during the 4th quarter worth approximately $28,000. Finally, HighMark Wealth Management LLC lifted its holdings in shares of Boeing by 121.6% in the 4th quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock worth $29,000 after purchasing an additional 90 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Down 2.0 %

Shares of BA stock opened at $177.34 on Monday. The stock has a market cap of $133.02 billion, a PE ratio of -9.68 and a beta of 1.52. The business has a 50-day simple moving average of $176.74 and a 200-day simple moving average of $164.39. The Boeing Company has a 52-week low of $137.03 and a 52-week high of $208.10.

Boeing (NYSE:BA) last issued its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter last year, the business earned ($0.47) earnings per share. Sell-side analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BA. Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Wells Fargo & Company lifted their price objective on Boeing from $85.00 to $103.00 and gave the stock an “underweight” rating in a report on Wednesday, January 29th. Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $195.00 to $169.00 in a report on Wednesday, October 30th. Barclays upgraded Boeing from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $190.00 to $210.00 in a research report on Monday, January 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Boeing in a research report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and an average target price of $195.16.

Insider Activity

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 value of $570,799.71. Following the completion of the transaction, the executive vice president now owns 19,213 shares of the company’s stock, valued at approximately $3,471,596.97. This represents a 14.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.16% of the company’s stock.

Boeing 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.