Abbot Financial Management Inc. Trims Stock Position in The Boeing Company (NYSE:BA)

Abbot Financial Management Inc. lessened its position in The Boeing Company (NYSE:BA) by 15.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,741 shares of the aircraft producer’s stock after selling 684 shares during the quarter. Abbot Financial Management Inc.’s holdings in Boeing were worth $662,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of BA. State Street Corp increased 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 buying an additional 636,594 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Boeing by 2.8% during the third quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock valued at $1,774,705,000 after buying an additional 320,415 shares during the last quarter. Jennison Associates LLC lifted its stake in Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after acquiring an additional 602,143 shares during the period. Fisher Asset Management LLC lifted its position in Boeing by 3.4% during the fourth quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer’s stock valued at $890,469,000 after purchasing an additional 164,042 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Boeing by 30.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,178,444 shares of the aircraft producer’s stock worth $739,585,000 after buying an additional 981,796 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Insider Buying and Selling

In related news, EVP Uma M. Amuluru sold 3,159 shares of Boeing stock in a transaction that occurred 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 completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is owned by company insiders.

Boeing Price Performance

NYSE:BA opened at $159.14 on Wednesday. The company has a 50-day moving average of $176.32 and a 200 day moving average of $164.50. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $203.80. The firm has a market cap of $119.36 billion, a PE ratio of -8.69 and a beta of 1.52.

Boeing (NYSE:BA) last posted its earnings results 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 in the prior year, the firm posted ($0.47) earnings per share. Sell-side analysts anticipate that The Boeing Company will post -2.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BA has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on shares of Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. UBS Group boosted their price target on Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Barclays upgraded shares of Boeing from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $190.00 to $210.00 in a research report on Monday, January 6th. Finally, Wells Fargo & Company upped their price objective on Boeing from $85.00 to $103.00 and gave the company an “underweight” rating in a research report on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $195.16.

About Boeing

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.