Envestnet Asset Management Inc. Decreases Stake in Boeing Co (BA)

Envestnet Asset Management Inc. cut its position in Boeing Co (NYSE:BA) by 1.7% during the fourth quarter, Holdings Channel reports. The fund owned 75,842 shares of the aircraft producer’s stock after selling 1,314 shares during the period. Envestnet Asset Management Inc.’s holdings in Boeing were worth $11,801,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BA. Capital World Investors increased its stake in shares of Boeing by 5.7% in the third quarter. Capital World Investors now owns 50,414,174 shares of the aircraft producer’s stock worth $6,641,563,000 after buying an additional 2,737,375 shares during the last quarter. State Street Corp increased its stake in shares of Boeing by 4.9% in the fourth quarter. State Street Corp now owns 28,345,503 shares of the aircraft producer’s stock worth $4,412,830,000 after buying an additional 1,323,732 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Boeing by 4.3% in the third quarter. Capital Research Global Investors now owns 20,586,605 shares of the aircraft producer’s stock worth $2,712,079,000 after buying an additional 857,985 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Boeing by 2.5% in the third quarter. BlackRock Fund Advisors now owns 8,150,012 shares of the aircraft producer’s stock worth $1,073,683,000 after buying an additional 195,326 shares during the last quarter. Finally, Morgan Stanley increased its stake in shares of Boeing by 27.0% in the third quarter. Morgan Stanley now owns 5,580,896 shares of the aircraft producer’s stock worth $735,229,000 after buying an additional 1,186,424 shares during the last quarter. Hedge funds and other institutional investors own 74.66% of the company’s stock.

Institutional Ownership by Quarter for Boeing (NYSE:BA)

Shares of Boeing Co (NYSE:BA) opened at 179.39 on Tuesday. The company has a 50 day moving average price of $173.49 and a 200 day moving average price of $152.07. The firm has a market cap of $109.87 billion, a PE ratio of 23.57 and a beta of 1.08. Boeing Co has a 12-month low of $122.35 and a 12-month high of $185.71.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, January 25th. The aircraft producer reported $2.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.34 by $0.13. The firm had revenue of $23.30 billion for the quarter, compared to analysts’ expectations of $23.25 billion. Boeing had a return on equity of 239.48% and a net margin of 5.18%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.60 EPS. On average, analysts forecast that Boeing Co will post $9.30 earnings per share for the current fiscal year.

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A number of analysts have recently commented on BA shares. Zacks Investment Research downgraded Boeing from a “hold” rating to a “sell” rating in a research note on Tuesday, January 10th. Deutsche Bank AG increased their price target on Boeing from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, March 6th. Morgan Stanley downgraded Boeing from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $185.00 to $190.00 in a research report on Monday, March 13th. They noted that the move was a valuation call. Royal Bank of Canada initiated coverage on Boeing in a research report on Thursday, January 12th. They set an “underperform” rating and a $136.00 price target on the stock. Finally, Vetr upgraded Boeing from a “sell” rating to a “hold” rating and set a $153.66 price target on the stock in a research report on Thursday, December 22nd. Seven analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $159.08.

In other Boeing news, Vice Chairman Raymond L. Conner sold 96,174 shares of Boeing stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $163.72, for a total value of $15,745,607.28. Following the sale, the insider now owns 95,852 shares of the company’s stock, valued at approximately $15,692,889.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Thomas J. Downey sold 1,000 shares of Boeing stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $163.93, for a total value of $163,930.00. The disclosure for this sale can be found here. Insiders sold a total of 206,827 shares of company stock worth $34,170,203 in the last ninety days. 0.58% of the stock is owned by corporate insiders.

Boeing Company Profile

The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.

5 Day Chart for NYSE:BA

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