HBK Sorce Advisory LLC Has $1.59 Million Stock Position in The Boeing Company (NYSE:BA)

HBK Sorce Advisory LLC lowered its position in shares of The Boeing Company (NYSE:BA) by 3.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,347 shares of the aircraft producer’s stock after selling 327 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Boeing were worth $1,594,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Boeing by 24.4% during the 4th quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock valued at $11,406,361,000 after acquiring an additional 12,641,715 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Boeing by 29.5% during the fourth quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock worth $2,677,170,000 after purchasing an additional 3,452,075 shares during the period. Castlekeep Investment Advisors LLC acquired a new stake in shares of Boeing during the fourth quarter worth approximately $568,000. Alyeska Investment Group L.P. purchased a new position in Boeing during the fourth quarter valued at approximately $526,889,000. Finally, Zimmer Partners LP acquired a new position in Boeing in the 4th quarter valued at approximately $393,736,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Insider Transactions at Boeing

In other news, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $206.28, for a total transaction of $132,019.20. Following the sale, the senior vice president now owns 13,258 shares of the company’s stock, valued at approximately $2,734,860.24. This trade represents a 4.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Christopher Raymond sold 3,899 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $187.01, for a total value of $729,151.99. Following the sale, the executive vice president now owns 42,513 shares in the company, valued at approximately $7,950,356.13. This represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,744 shares of company stock worth $1,511,370 over the last three months. 0.09% of the stock is currently owned by insiders.

Boeing Price Performance

Boeing stock opened at $199.09 on Thursday. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $218.80. The firm has a fifty day moving average price of $195.98 and a two-hundred day moving average price of $179.22. The firm has a market cap of $150.12 billion, a price-to-earnings ratio of -11.11 and a beta of 1.43.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($1.39) by $0.90. The business had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.57 billion. During the same period in the prior year, the firm posted ($1.13) EPS. Boeing’s revenue for the quarter was up 17.7% on a year-over-year basis. As a group, sell-side analysts expect that The Boeing Company will post -2.58 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wall Street Zen lowered shares of Boeing from a “hold” rating to a “sell” rating in a research note on Saturday, May 17th. Cowen reissued a “buy” rating on shares of Boeing in a research report on Wednesday, May 7th. Citigroup reaffirmed a “buy” rating on shares of Boeing in a research report on Thursday, May 22nd. TD Securities downgraded Boeing to a “cautious” rating in a research note on Thursday, May 22nd. Finally, Bank of America raised Boeing from a “neutral” rating to a “buy” rating and boosted their price target for the company from $185.00 to $260.00 in a research note on Monday, June 2nd. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and a consensus target price of $209.85.

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.