Congress Park Capital LLC Lowers Stock Position in The Boeing Company (NYSE:BA)

Congress Park Capital LLC cut its holdings in The Boeing Company (NYSE:BA) by 11.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,193 shares of the aircraft producer’s stock after selling 150 shares during the quarter. Congress Park Capital LLC’s holdings in Boeing were worth $203,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BA. Revolve Wealth Partners LLC bought a new position in shares of Boeing during the fourth quarter valued at $201,000. Bank Pictet & Cie Europe AG bought a new stake in Boeing during the fourth quarter valued at approximately $7,837,000. Venturi Wealth Management LLC increased its holdings in Boeing by 15.6% during the fourth quarter. Venturi Wealth Management LLC now owns 3,733 shares of the aircraft producer’s stock valued at $661,000 after buying an additional 505 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its holdings in Boeing by 18.7% during the fourth quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 4,363 shares of the aircraft producer’s stock valued at $772,000 after buying an additional 686 shares during the last quarter. Finally, Bank of Jackson Hole Trust bought a new position in Boeing in the fourth quarter worth approximately $64,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. UBS Group boosted their price objective on shares of Boeing from $207.00 to $226.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Royal Bank Of Canada reaffirmed a “cautious” rating on shares of Boeing in a research report on Thursday, June 12th. Wells Fargo & Company reissued an “underweight” rating on shares of Boeing in a report on Thursday, May 22nd. Citigroup reaffirmed a “buy” rating on shares of Boeing in a report on Thursday, May 22nd. Finally, Wall Street Zen lowered shares of Boeing from a “hold” rating to a “sell” rating in a research report on Saturday, May 17th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $209.85.

Boeing Stock Down 1.3%

Boeing stock opened at $197.62 on Friday. The company’s 50-day moving average price is $192.55 and its 200-day moving average price is $178.01. The company has a market cap of $149.01 billion, a PE ratio of -11.03 and a beta of 1.43. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $218.80.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($1.39) by $0.90. The company 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 firm earned ($1.13) earnings per share. The company’s revenue was up 17.7% compared to the same quarter last year. As a group, sell-side analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Activity

In other Boeing news, EVP Jeffrey S. Shockey sold 3,205 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total transaction of $650,198.35. Following the completion of the transaction, the executive vice president now owns 20,513 shares in the company, valued at $4,161,472.31. The trade was a 13.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Brendan J. Nelson sold 640 shares of the company’s 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 transaction, the senior vice president now directly owns 13,258 shares in the company, valued at approximately $2,734,860.24. This represents a 4.60% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,744 shares of company stock valued at $1,511,370. 0.09% of the stock is currently owned by insiders.

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.