Princeton Capital Management LLC Trims Stock Position in The Boeing Company (NYSE:BA)

Princeton Capital Management LLC cut its holdings in shares of The Boeing Company (NYSE:BA) by 29.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,758 shares of the aircraft producer’s stock after selling 1,161 shares during the period. Princeton Capital Management LLC’s holdings in Boeing were worth $488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc lifted its holdings in shares of Boeing by 54.2% in the 4th quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock valued at $358,000 after buying an additional 710 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in Boeing by 8.8% in the third quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock valued at $72,075,000 after acquiring an additional 38,300 shares during the period. Carnegie Investment Counsel boosted its position in Boeing by 175.6% in the 4th quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock worth $818,000 after purchasing an additional 2,943 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Boeing by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after purchasing an additional 38,332 shares during the period. Finally, World Investment Advisors LLC increased its holdings in shares of Boeing by 243.4% during the 3rd quarter. World Investment Advisors LLC now owns 5,381 shares of the aircraft producer’s stock valued at $818,000 after purchasing an additional 3,814 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BA. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of Boeing in a report on Wednesday, January 29th. Melius upgraded Boeing from a “hold” rating to a “buy” rating in a research report on Monday. Citigroup lifted their price target on Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Finally, UBS Group boosted their price objective on Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $195.68.

Insiders Place Their Bets

In other news, EVP Uma M. Amuluru sold 3,159 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total transaction of $570,799.71. Following the completion of the sale, the executive vice president now owns 19,213 shares in the company, valued at $3,471,596.97. This trade represents a 14.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Boeing Trading Up 1.6 %

BA opened at $180.90 on Tuesday. The firm has a market capitalization of $135.69 billion, a PE ratio of -9.87 and a beta of 1.53. The Boeing Company has a twelve month low of $137.03 and a twelve month high of $196.95. The firm’s 50-day moving average price is $173.19 and its 200 day moving average price is $163.72.

Boeing (NYSE:BA) last issued its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share 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. As a group, analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

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.