PSI Advisors LLC Sells 329 Shares of The Boeing Company (NYSE:BA)

PSI Advisors LLC cut its holdings in The Boeing Company (NYSE:BA) by 36.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 565 shares of the aircraft producer’s stock after selling 329 shares during the period. PSI Advisors LLC’s holdings in Boeing were worth $96,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in BA. Sierra Ocean LLC purchased a new stake in Boeing during the 4th quarter valued at about $26,000. American National Bank & Trust lifted its position in Boeing by 474.1% in the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock valued at $26,000 after purchasing an additional 128 shares during the last quarter. HighMark Wealth Management LLC increased its stake in shares of Boeing by 121.6% in the fourth quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock worth $29,000 after buying an additional 90 shares during the period. REAP Financial Group LLC raised its holdings in Boeing by 60.2% during the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer’s stock valued at $31,000 after buying an additional 65 shares during the last quarter. Finally, Anfield Capital Management LLC grew its holdings in Boeing by 113.1% in the 4th quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer’s stock worth $32,000 after acquiring an additional 95 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BA. The Goldman Sachs Group set a $212.00 price objective on shares of Boeing and gave the company a “buy” rating in a research note on Thursday, June 12th. Bank of America upgraded Boeing from a “neutral” rating to a “buy” rating and boosted their price target for the company from $185.00 to $260.00 in a report on Monday, June 2nd. Susquehanna reiterated a “positive” rating and issued a $240.00 price objective (up from $205.00) on shares of Boeing in a research report on Wednesday, May 14th. UBS Group lifted their price target on shares of Boeing from $207.00 to $226.00 and gave the company a “buy” rating in a report on Friday, May 9th. Finally, Melius raised shares of Boeing from a “hold” rating to a “buy” rating in a research report on Monday, March 24th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $209.85.

Boeing Trading Down 0.7%

BA stock opened at $200.21 on Wednesday. The stock’s 50 day simple moving average is $190.97 and its 200 day simple moving average is $177.59. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $218.80. The stock has a market capitalization of $150.96 billion, a PE ratio of -11.17 and a beta of 1.43.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (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. During the same period in the previous year, the company earned ($1.13) earnings per share. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, research analysts predict that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Buying and Selling at Boeing

In other Boeing news, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the completion of the sale, the senior vice president now owns 13,258 shares of the company’s stock, valued at approximately $2,734,860.24. The trade was a 4.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David Christopher Raymond sold 3,899 shares of the stock in a transaction 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 in the company, valued at $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. In the last 90 days, insiders have sold 7,744 shares of company stock worth $1,511,370. Company insiders own 0.09% of the company’s stock.

Boeing Company 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.