McAlister Sweet & Associates Inc. Sells 14,632 Shares of The Boeing Company (NYSE:BA)

McAlister Sweet & Associates Inc. trimmed its stake in The Boeing Company (NYSE:BA) by 93.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,049 shares of the aircraft producer’s stock after selling 14,632 shares during the period. McAlister Sweet & Associates Inc.’s holdings in Boeing were worth $202,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of BA. QRG Capital Management Inc. purchased a new stake in shares of Boeing in the third quarter worth approximately $8,629,000. Envestnet Portfolio Solutions Inc. bought a new stake in Boeing during the 3rd quarter valued at $1,103,000. Envestnet Asset Management Inc. boosted its position in Boeing by 24.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 369,171 shares of the aircraft producer’s stock valued at $70,763,000 after acquiring an additional 71,391 shares in the last quarter. Clearstead Advisors LLC boosted its position in shares of Boeing by 6.4% in the 3rd quarter. Clearstead Advisors LLC now owns 1,409 shares of the aircraft producer’s stock worth $270,000 after purchasing an additional 85 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Boeing by 30.1% in the 3rd quarter. Invesco Ltd. now owns 3,279,421 shares of the aircraft producer’s stock worth $628,599,000 after purchasing an additional 759,267 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BA. Sanford C. Bernstein lowered their price objective on Boeing from $230.00 to $215.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. The Goldman Sachs Group lowered their price objective on Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a research report on Monday, March 25th. Baird R W raised Boeing to a “strong-buy” rating in a research report on Monday, June 3rd. Bank of America raised their price objective on Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, June 13th. Finally, UBS Group lowered their price objective on Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.89.

Boeing Price Performance

NYSE:BA traded down $3.40 during trading hours on Tuesday, hitting $174.99. 6,160,193 shares of the stock were exchanged, compared to its average volume of 8,642,715. The firm’s fifty day moving average price is $177.38 and its 200 day moving average price is $202.05. The Boeing Company has a 52-week low of $159.70 and a 52-week high of $267.54.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share for the quarter, topping the consensus estimate of ($1.43) by $0.30. The company had revenue of $16.57 billion for the quarter, compared to analyst estimates of $17.69 billion. On average, analysts expect that The Boeing Company will post -1.48 earnings per share for the current fiscal year.

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.