Commerce Bank Reduces Position in The Boeing Company (NYSE:BA)

Commerce Bank lowered its holdings in The Boeing Company (NYSE:BA) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 60,915 shares of the aircraft producer’s stock after selling 3,003 shares during the period. Commerce Bank’s holdings in Boeing were worth $10,782,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of BA. Vanguard Group Inc. grew its position in shares of Boeing by 24.4% during the fourth quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock worth $11,406,361,000 after buying an additional 12,641,715 shares in the last quarter. Geode Capital Management LLC grew its holdings in Boeing by 29.5% during the 4th quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock worth $2,677,170,000 after acquiring an additional 3,452,075 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Boeing during the 4th quarter worth $230,944,000. Amundi raised its stake in shares of Boeing by 473.6% in the 4th quarter. Amundi now owns 1,565,337 shares of the aircraft producer’s stock valued at $268,862,000 after purchasing an additional 1,292,417 shares in the last quarter. Finally, Burkehill Global Management LP bought a new position in shares of Boeing during the fourth quarter worth about $212,400,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BA. Citigroup boosted their price objective on Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a report on Monday, February 10th. StockNews.com upgraded Boeing to a “sell” rating in a report on Saturday, April 5th. Melius upgraded Boeing from a “hold” rating to a “buy” rating in a research note on Monday, March 24th. Barclays upgraded shares of Boeing from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $190.00 to $210.00 in a research note on Monday, January 6th. Finally, Wells Fargo & Company reduced their price target on shares of Boeing from $113.00 to $111.00 and set an “underweight” rating on the stock in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Boeing currently has an average rating of “Moderate Buy” and a consensus price target of $198.95.

Boeing Trading Up 3.4 %

BA stock opened at $161.84 on Friday. The firm’s 50-day moving average is $166.41 and its two-hundred day moving average is $164.03. The company has a market capitalization of $121.39 billion, a price-to-earnings ratio of -8.83 and a beta of 1.24. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $196.95.

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

Insider Buying and Selling at Boeing

In related 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 directly owns 19,213 shares in the company, valued at approximately $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 at the SEC website. 0.09% of the stock is owned by corporate insiders.

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.