Madrona Financial Services LLC Cuts Stock Position in The Boeing Company (NYSE:BA)

Madrona Financial Services LLC reduced its position in The Boeing Company (NYSE:BA) by 4.3% in the first quarter, Holdings Channel.com reports. The firm owned 9,387 shares of the aircraft producer’s stock after selling 421 shares during the quarter. Madrona Financial Services LLC’s holdings in Boeing were worth $1,601,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Sabal Trust CO boosted its holdings in Boeing by 47.3% during the 1st quarter. Sabal Trust CO now owns 10,054 shares of the aircraft producer’s stock valued at $1,715,000 after acquiring an additional 3,228 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in Boeing by 101.1% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 13,929 shares of the aircraft producer’s stock valued at $2,376,000 after acquiring an additional 7,002 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in Boeing by 35.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 33,436 shares of the aircraft producer’s stock valued at $5,702,000 after acquiring an additional 8,676 shares during the period. Pure Financial Advisors LLC boosted its holdings in Boeing by 43.0% during the 1st quarter. Pure Financial Advisors LLC now owns 9,430 shares of the aircraft producer’s stock valued at $1,608,000 after acquiring an additional 2,837 shares during the period. Finally, SOL Capital Management CO boosted its holdings in Boeing by 1.6% during the 1st quarter. SOL Capital Management CO now owns 9,625 shares of the aircraft producer’s stock valued at $1,642,000 after acquiring an additional 150 shares during the period. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Brendan J. Nelson sold 640 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $206.28, for a total transaction of $132,019.20. Following the completion of the transaction, the senior vice president now owns 13,258 shares of the company’s stock, valued at $2,734,860.24. This trade represents a 4.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the transaction, the executive vice president now directly owns 20,513 shares of the company’s stock, valued at approximately $4,161,472.31. This trade represents a 13.51% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,744 shares of company stock worth $1,511,370. 0.09% of the stock is owned by corporate insiders.

Boeing Trading Down 0.9%

BA opened at $199.09 on Thursday. The stock has a fifty day simple moving average of $195.98 and a two-hundred day simple moving average of $179.22. The company has a market cap of $150.12 billion, a price-to-earnings ratio of -11.11 and a beta of 1.43. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $218.80.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BA shares. Bank of America upgraded Boeing from a “neutral” rating to a “buy” rating and increased their target price for the company from $185.00 to $260.00 in a report on Monday, June 2nd. Citigroup restated a “buy” rating on shares of Boeing in a report on Thursday, May 22nd. Wells Fargo & Company restated an “underweight” rating on shares of Boeing in a report on Thursday, May 22nd. UBS Group upped their price target on Boeing from $207.00 to $226.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Finally, Melius upgraded Boeing from a “hold” rating to a “buy” rating in a report on Monday, March 24th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $209.85.

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.