Sowell Financial Services LLC Cuts Holdings in The Boeing Company (NYSE:BA)

Sowell Financial Services LLC trimmed its holdings in shares of The Boeing Company (NYSE:BA) by 7.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,413 shares of the aircraft producer’s stock after selling 2,238 shares during the period. Sowell Financial Services LLC’s holdings in Boeing were worth $5,029,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. AdvisorNet Financial Inc boosted its stake in Boeing by 54.2% during the 4th quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock valued at $358,000 after purchasing an additional 710 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Boeing by 8.8% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock valued at $72,075,000 after buying an additional 38,300 shares during the period. Carnegie Investment Counsel raised its holdings 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 during the period. Principal Financial Group Inc. raised its holdings in Boeing by 6.1% in 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, Jennison Associates LLC raised its holdings in Boeing by 9.9% in the 3rd 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 period. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Trading Down 2.7 %

BA opened at $154.20 on Friday. The firm has a market cap of $115.66 billion, a P/E ratio of -8.42 and a beta of 1.53. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $203.80. The stock has a 50-day moving average of $175.03 and a 200 day moving average of $164.22.

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

Wall Street Analyst Weigh In

BA has been the topic of a number of recent research reports. Citigroup raised their target price on Boeing from $207.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Susquehanna raised their target price on Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. UBS Group raised their target price on Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised their target price on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Finally, Barclays upgraded Boeing from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $190.00 to $210.00 in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $195.16.

Insiders Place Their Bets

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is owned by 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.