Great Lakes Advisors LLC Trims Stock Position in The Boeing Company (NYSE:BA)

Great Lakes Advisors LLC cut its position in The Boeing Company (NYSE:BA) by 15.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,973 shares of the aircraft producer’s stock after selling 361 shares during the quarter. Great Lakes Advisors LLC’s holdings in Boeing were worth $349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of BA. AdvisorNet Financial Inc boosted its stake in Boeing by 54.2% during the fourth 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. raised its holdings in shares of Boeing by 8.8% in 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 acquiring an additional 38,300 shares in the last quarter. Carnegie Investment Counsel boosted its position in shares of Boeing by 175.6% during the 4th quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock valued at $818,000 after acquiring an additional 2,943 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Boeing by 6.1% during the third 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 in the last quarter. Finally, Jennison Associates LLC increased its position in shares of Boeing by 9.9% in 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. 64.82% of the stock is owned by institutional investors.

Boeing Stock Performance

NYSE BA opened at $162.00 on Monday. The stock has a market cap of $121.51 billion, a P/E ratio of -8.84 and a beta of 1.53. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $196.95. The stock has a 50 day simple moving average of $173.23 and a two-hundred day simple moving average of $163.57.

Boeing (NYSE:BA) last announced its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period in the prior year, the firm earned ($0.47) earnings per share. Sell-side analysts predict that The Boeing Company will post -2.58 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Boeing from $85.00 to $103.00 and gave the company an “underweight” rating in a research report on Wednesday, January 29th. Susquehanna upped their target price on shares of Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of Boeing in a research report on Wednesday, January 29th. StockNews.com upgraded Boeing to a “sell” rating in a report on Wednesday, March 12th. Finally, Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.16.

Insider Activity

In other news, EVP Uma M. Amuluru sold 3,159 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total value 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 approximately $3,471,596.97. This represents a 14.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

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.