1ST Source Bank Reduces Position in The Boeing Company (NYSE:BA)

1ST Source Bank lessened its holdings in shares of The Boeing Company (NYSE:BA) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,450 shares of the aircraft producer’s stock after selling 83 shares during the quarter. 1ST Source Bank’s holdings in Boeing were worth $788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Signaturefd LLC lifted its stake in shares of Boeing by 23.3% during the 4th quarter. Signaturefd LLC now owns 11,063 shares of the aircraft producer’s stock valued at $1,958,000 after buying an additional 2,091 shares in the last quarter. Pitti Group Wealth Management LLC lifted its stake in shares of Boeing by 40.2% during the 4th quarter. Pitti Group Wealth Management LLC now owns 10,863 shares of the aircraft producer’s stock valued at $1,923,000 after buying an additional 3,113 shares in the last quarter. Cibc World Markets Corp lifted its stake in shares of Boeing by 15.4% during the 4th quarter. Cibc World Markets Corp now owns 258,528 shares of the aircraft producer’s stock valued at $45,759,000 after buying an additional 34,495 shares in the last quarter. SouthState Corp lifted its stake in shares of Boeing by 45.5% during the 4th quarter. SouthState Corp now owns 3,611 shares of the aircraft producer’s stock valued at $639,000 after buying an additional 1,130 shares in the last quarter. Finally, RS Crum Inc. lifted its stake in shares of Boeing by 2.4% during the 4th quarter. RS Crum Inc. now owns 2,988 shares of the aircraft producer’s stock valued at $529,000 after buying an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on BA. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Boeing in a research note on Wednesday, January 29th. Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Susquehanna lifted their price target on shares of Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Finally, StockNews.com upgraded shares of Boeing to a “sell” rating in a report on Wednesday, March 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $195.68.

Boeing Trading Up 0.1 %

BA stock opened at $162.04 on Tuesday. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $196.95. The company has a 50-day moving average price of $173.05 and a 200 day moving average price of $163.49. The stock has a market cap of $121.54 billion, a PE ratio of -8.84 and a beta of 1.53.

Boeing (NYSE:BA) last released its quarterly earnings results 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 in the previous year, the firm earned ($0.47) EPS. Sell-side analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Insider Buying and Selling at Boeing

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $3,471,596.97. The trade was a 14.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is owned by corporate insiders.

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.