Perennial Investment Advisors LLC Trims Stock Position in The Boeing Company (NYSE:BA)

Perennial Investment Advisors LLC decreased its holdings in The Boeing Company (NYSE:BA) by 3.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,403 shares of the aircraft producer’s stock after selling 88 shares during the period. Perennial Investment Advisors LLC’s holdings in Boeing were worth $425,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of BA. Resona Asset Management Co. Ltd. purchased a new stake in Boeing in the fourth quarter valued at approximately $37,055,000. Pioneer Trust Bank N A OR grew its stake in shares of Boeing by 20.5% during the 4th quarter. Pioneer Trust Bank N A OR now owns 2,350 shares of the aircraft producer’s stock valued at $416,000 after buying an additional 400 shares during the period. Solstein Capital LLC acquired a new stake in shares of Boeing during the 4th quarter worth $33,000. Leeward Financial Partners LLC raised its position in shares of Boeing by 4.4% in the 4th quarter. Leeward Financial Partners LLC now owns 6,930 shares of the aircraft producer’s stock worth $1,227,000 after buying an additional 291 shares during the period. Finally, Yoffe Investment Management LLC acquired a new position in Boeing in the fourth quarter valued at $594,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BA. Deutsche Bank Aktiengesellschaft raised their price objective on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. JPMorgan Chase & Co. lifted their price target on shares of Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. UBS Group increased their price objective on shares of Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Wells Fargo & Company lifted their target price on shares of Boeing from $103.00 to $113.00 and gave the company an “underweight” rating in a report on Monday, March 17th. Finally, Melius upgraded Boeing from a “hold” rating to a “buy” rating in a report on Monday, March 24th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Boeing currently has an average rating of “Moderate Buy” and a consensus price target of $196.10.

Insider Activity at Boeing

In related news, EVP Uma M. Amuluru sold 3,159 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $3,471,596.97. This represents a 14.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Boeing Price Performance

Shares of BA stock opened at $136.61 on Friday. The firm has a market cap of $102.47 billion, a P/E ratio of -7.46 and a beta of 1.53. The firm has a fifty day moving average of $172.36 and a two-hundred day moving average of $164.22. The Boeing Company has a 1-year low of $132.79 and a 1-year high of $196.95.

Boeing (NYSE:BA) last announced its quarterly earnings data 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 quarter in the previous year, the company earned ($0.47) earnings per share. On average, sell-side analysts expect that The Boeing Company will post -2.58 EPS for the current year.

About Boeing

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.