Carmel Capital Partners LLC Cuts Stake in The Boeing Company (NYSE:BA)

Carmel Capital Partners LLC cut its stake in The Boeing Company (NYSE:BA) by 31.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,561 shares of the aircraft producer’s stock after selling 2,548 shares during the quarter. Carmel Capital Partners LLC’s holdings in Boeing were worth $984,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Sierra Ocean LLC purchased a new position in Boeing in the fourth quarter valued at about $26,000. Sugar Maple Asset Management LLC purchased a new position in Boeing in the fourth quarter valued at about $27,000. RPg Family Wealth Advisory LLC purchased a new position in Boeing in the third quarter valued at about $28,000. Fiduciary Advisors Inc. purchased a new position in Boeing in the fourth quarter valued at about $28,000. Finally, HighMark Wealth Management LLC raised its position in Boeing by 121.6% in the fourth quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock valued at $29,000 after purchasing an additional 90 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Boeing

In related news, EVP Uma M. Amuluru sold 3,159 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $180.69, for a total transaction of $570,799.71. Following the completion of the transaction, the executive vice president now owns 19,213 shares of the company’s stock, valued at $3,471,596.97. This trade represents a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.16% of the company’s stock.

Boeing Trading Up 2.8 %

Shares of NYSE BA opened at $163.34 on Thursday. The stock has a 50 day simple moving average of $176.00 and a 200-day simple moving average of $164.49. The company has a market cap of $122.52 billion, a PE ratio of -8.92 and a beta of 1.52. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $203.80.

Boeing (NYSE:BA) last issued its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period last year, the business posted ($0.47) earnings per share. Sell-side analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BA. Wells Fargo & Company lifted their target price on Boeing from $85.00 to $103.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of Boeing in a research report on Wednesday, January 29th. JPMorgan Chase & Co. lifted their target price on Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Citigroup lifted their target price on Boeing from $207.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Finally, Susquehanna lifted their target price on Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $195.16.

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.