Westchester Capital Management Inc. Sells 490 Shares of The Boeing Company (NYSE:BA)

Westchester Capital Management Inc. lessened its holdings in shares of The Boeing Company (NYSE:BA) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,997 shares of the aircraft producer’s stock after selling 490 shares during the quarter. Boeing makes up approximately 0.4% of Westchester Capital Management Inc.’s investment portfolio, making the stock its 27th largest position. Westchester Capital Management Inc.’s holdings in Boeing were worth $1,769,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of BA. CWA Asset Management Group LLC bought a new stake in Boeing during the third quarter worth $334,000. Assetmark Inc. raised its position in Boeing by 65.2% during the 3rd quarter. Assetmark Inc. now owns 1,057 shares of the aircraft producer’s stock worth $161,000 after purchasing an additional 417 shares during the last quarter. Sigma Planning Corp raised its position in Boeing by 252.7% during the 3rd quarter. Sigma Planning Corp now owns 15,300 shares of the aircraft producer’s stock worth $2,326,000 after purchasing an additional 10,962 shares during the last quarter. Baker Avenue Asset Management LP acquired a new stake in Boeing during the 3rd quarter worth about $242,000. Finally, Tyler Stone Wealth Management grew its holdings in Boeing by 46.8% during the 3rd quarter. Tyler Stone Wealth Management now owns 1,458 shares of the aircraft producer’s stock worth $222,000 after acquiring an additional 465 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Up 4.1 %

NYSE BA opened at $154.19 on Wednesday. The firm has a 50 day moving average of $174.00 and a two-hundred day moving average of $163.83. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $196.95. The stock has a market capitalization of $115.65 billion, a PE ratio of -8.42 and a beta of 1.53.

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

Insider Activity

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $180.69, for a total transaction of $570,799.71. Following the completion of the transaction, the executive vice president now directly owns 19,213 shares in the company, valued at approximately $3,471,596.97. This trade represents a 14.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on BA shares. UBS Group raised their price target on shares of Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a research 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 research report on Wednesday, January 29th. JPMorgan Chase & Co. boosted their price target 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. Barclays raised shares of Boeing from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $190.00 to $210.00 in a research note on Monday, January 6th. Finally, Susquehanna upped their price objective on shares of Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $195.16.

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.