Cresset Asset Management LLC Sells 20,292 Shares of The Boeing Company (NYSE:BA)

Cresset Asset Management LLC trimmed its holdings in The Boeing Company (NYSE:BA) by 51.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,016 shares of the aircraft producer’s stock after selling 20,292 shares during the quarter. Cresset Asset Management LLC’s holdings in Boeing were worth $3,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Boeing by 24.4% during the 4th quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock valued at $11,406,361,000 after purchasing an additional 12,641,715 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Boeing by 29.5% during the fourth quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock valued at $2,677,170,000 after buying an additional 3,452,075 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new stake in shares of Boeing during the fourth quarter valued at approximately $568,000. Alyeska Investment Group L.P. purchased a new position in Boeing in the 4th quarter worth approximately $526,889,000. Finally, Northern Trust Corp lifted its position in Boeing by 33.6% in the 4th quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer’s stock valued at $1,151,316,000 after acquiring an additional 1,634,231 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Price Performance

Shares of BA stock opened at $191.79 on Friday. The Boeing Company has a one year low of $128.88 and a one year high of $196.95. The company’s fifty day moving average price is $166.31 and its 200-day moving average price is $166.60. The company has a market capitalization of $144.61 billion, a price-to-earnings ratio of -10.47 and a beta of 1.41.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($1.39) by $0.90. The business had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.57 billion. Boeing’s revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.13) earnings per share. Equities research analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on BA shares. JPMorgan Chase & Co. lifted their target price on Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. StockNews.com raised Boeing to a “sell” rating in a research report on Thursday, April 24th. Wells Fargo & Company reaffirmed an “underweight” rating and set a $140.00 price target (up previously from $111.00) on shares of Boeing in a report on Wednesday, April 23rd. Cowen reissued a “buy” rating on shares of Boeing in a report on Wednesday. Finally, Melius Research set a $204.00 target price on shares of Boeing in a report on Monday, March 24th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $200.90.

Insider Buying and Selling

In related news, EVP Uma M. Amuluru sold 3,159 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $180.69, for a total value of $570,799.71. Following the sale, the executive vice president now directly owns 19,213 shares in the company, valued at approximately $3,471,596.97. The trade was a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Christopher Raymond sold 3,899 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $187.01, for a total value of $729,151.99. Following the transaction, the executive vice president now directly owns 42,513 shares of the company’s stock, valued at approximately $7,950,356.13. The trade was a 8.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

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.