The Boeing Company (NYSE:BA) Shares Sold by SVB Wealth LLC

SVB Wealth LLC reduced its position in shares of The Boeing Company (NYSE:BA) by 7.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,287 shares of the aircraft producer’s stock after selling 1,552 shares during the period. SVB Wealth LLC’s holdings in Boeing were worth $3,722,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Boeing by 2.5% in the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after acquiring an additional 1,222,816 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after acquiring an additional 4,425,964 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Boeing by 23.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock worth $2,560,466,000 after acquiring an additional 1,884,850 shares during the last quarter. Northern Trust Corp raised its holdings in Boeing by 1.1% in the fourth quarter. Northern Trust Corp now owns 5,003,262 shares of the aircraft producer’s stock valued at $1,304,150,000 after buying an additional 52,081 shares during the period. Finally, Jennison Associates LLC raised its holdings in Boeing by 14.1% in the first quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock valued at $811,221,000 after buying an additional 518,952 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Argus lowered shares of Boeing from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. UBS Group cut their price target on shares of Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, June 7th. Melius restated a “hold” rating on shares of Boeing in a report on Monday, April 1st. Melius Research restated a “hold” rating on shares of Boeing in a report on Monday, April 1st. Finally, Susquehanna restated a “positive” rating and issued a $230.00 price target on shares of Boeing in a report on Wednesday, May 15th. Two investment 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.89.

Boeing Trading Down 0.7 %

Boeing stock traded down $1.37 during mid-day trading on Monday, reaching $185.52. The company’s stock had a trading volume of 3,606,724 shares, compared to its average volume of 8,127,786. The firm has a market cap of $113.89 billion, a price-to-earnings ratio of -52.26 and a beta of 1.56. The business has a 50 day moving average price of $181.74 and a 200-day moving average price of $188.23. The Boeing Company has a twelve month low of $159.70 and a twelve month high of $267.54.

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.