Horizon Bancorp Inc. IN Sells 1,042 Shares of The Boeing Company (NYSE:BA)

Horizon Bancorp Inc. IN reduced its stake in The Boeing Company (NYSE:BA) by 60.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 668 shares of the aircraft producer’s stock after selling 1,042 shares during the period. Horizon Bancorp Inc. IN’s holdings in Boeing were worth $114,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of BA. Revolve Wealth Partners LLC bought a new stake in Boeing in the 4th quarter valued at $201,000. Bank Pictet & Cie Europe AG purchased a new stake in shares of Boeing during the 4th quarter valued at about $7,837,000. Howard Capital Management Inc. raised its position in shares of Boeing by 5.3% during the 4th quarter. Howard Capital Management Inc. now owns 3,576 shares of the aircraft producer’s stock valued at $633,000 after buying an additional 180 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Boeing during the 4th quarter valued at about $126,000. Finally, IFP Advisors Inc raised its position in shares of Boeing by 6.4% during the 4th quarter. IFP Advisors Inc now owns 18,628 shares of the aircraft producer’s stock valued at $3,303,000 after buying an additional 1,114 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Cowen restated a “buy” rating on shares of Boeing in a research report on Wednesday, May 7th. Wells Fargo & Company restated an “underweight” rating on shares of Boeing in a research report on Thursday, May 22nd. Melius Research set a $204.00 target price on shares of Boeing in a research report on Monday, March 24th. Sanford C. Bernstein upgraded shares of Boeing from a “market perform” rating to an “outperform” rating and upped their target price for the company from $181.00 to $218.00 in a research report on Monday, April 28th. Finally, Benchmark decreased their target price on shares of Boeing from $250.00 to $215.00 and set a “buy” rating on the stock in a research report on Monday, April 21st. Four 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $209.85.

Boeing Stock Performance

Shares of NYSE:BA opened at $201.04 on Wednesday. The firm has a market cap of $151.58 billion, a PE ratio of -11.22 and a beta of 1.43. The firm’s 50 day simple moving average is $195.13 and its 200-day simple moving average is $179.09. The Boeing Company has a one year low of $128.88 and a one year high of $218.80.

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

Insider Transactions at Boeing

In related news, EVP David Christopher Raymond sold 3,899 shares of Boeing stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $187.01, for a total transaction of $729,151.99. Following the transaction, the executive vice president now directly owns 42,513 shares of the company’s stock, valued at $7,950,356.13. This trade represents a 8.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction 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. The trade was a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,744 shares of company stock valued at $1,511,370. 0.09% of the stock is currently owned by company 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.