The Boeing Company (NYSE:BA) Shares Sold by Mattern Wealth Management LLC

Mattern Wealth Management LLC lowered its stake in shares of The Boeing Company (NYSE:BA) by 33.0% during the fourth quarter, Holdings Channel reports. The fund owned 1,250 shares of the aircraft producer’s stock after selling 615 shares during the quarter. Mattern Wealth Management LLC’s holdings in Boeing were worth $221,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in Boeing by 2.3% in the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after buying an additional 636,594 shares during the last quarter. Geode Capital Management LLC grew its holdings in Boeing by 2.8% in the third quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock valued at $1,774,705,000 after purchasing an additional 320,415 shares during the period. Jennison Associates LLC increased its position in Boeing by 9.9% during the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after purchasing an additional 602,143 shares during the last quarter. Fisher Asset Management LLC raised its stake in Boeing by 6.0% during the third quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock worth $739,957,000 after purchasing an additional 277,350 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Boeing by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,196,648 shares of the aircraft producer’s stock worth $486,018,000 after purchasing an additional 48,637 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Down 0.6 %

Shares of BA opened at $175.09 on Tuesday. The stock has a market cap of $108.24 billion, a price-to-earnings ratio of -13.57 and a beta of 1.52. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $214.63. The company has a 50-day moving average price of $166.42 and a two-hundred day moving average price of $164.29.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BA. TD Cowen reduced their target price on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Wells Fargo & Company decreased their target price on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. Susquehanna decreased their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Boeing in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $192.11.

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.