The Boeing Company (NYSE:BA) Shares Sold by Independence Bank of Kentucky

Independence Bank of Kentucky lowered its holdings in shares of The Boeing Company (NYSE:BA) by 65.8% during the first quarter, HoldingsChannel.com reports. The firm owned 2,670 shares of the aircraft producer’s stock after selling 5,130 shares during the period. Independence Bank of Kentucky’s holdings in Boeing were worth $515,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Norway Savings Bank grew its stake in Boeing by 16.8% in the 1st quarter. Norway Savings Bank now owns 7,581 shares of the aircraft producer’s stock valued at $1,463,000 after acquiring an additional 1,090 shares during the period. Sawyer & Company Inc purchased a new position in Boeing during the first quarter valued at $82,000. Ameliora Wealth Management Ltd. grew its position in shares of Boeing by 45.5% in the first quarter. Ameliora Wealth Management Ltd. now owns 3,200 shares of the aircraft producer’s stock valued at $618,000 after purchasing an additional 1,000 shares during the period. Pinnacle Bancorp Inc. increased its stake in shares of Boeing by 66.7% during the first quarter. Pinnacle Bancorp Inc. now owns 772 shares of the aircraft producer’s stock worth $149,000 after purchasing an additional 309 shares in the last quarter. Finally, Atlantic Union Bankshares Corp increased its stake in shares of Boeing by 8.4% during the first quarter. Atlantic Union Bankshares Corp now owns 1,163 shares of the aircraft producer’s stock worth $224,000 after purchasing an additional 90 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Stock Performance

Shares of Boeing stock opened at $182.01 on Friday. The stock has a 50 day moving average of $178.50 and a 200 day moving average of $198.42. The firm has a market capitalization of $111.73 billion, a price-to-earnings ratio of -51.27 and a beta of 1.55. The Boeing Company has a fifty-two week low of $159.70 and a fifty-two week high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) EPS for the quarter, beating the consensus estimate of ($1.43) by $0.30. The business had revenue of $16.57 billion during the quarter, compared to analyst estimates of $17.69 billion. Analysts forecast that The Boeing Company will post -1.67 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BA. TD Cowen decreased their price target on shares of Boeing from $275.00 to $230.00 and set an “outperform” rating on the stock in a research note on Monday, March 25th. Royal Bank of Canada decreased their target price on Boeing from $225.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 16th. Argus cut Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $225.00 price objective on shares of Boeing in a report on Tuesday, June 25th. Finally, StockNews.com cut shares of Boeing from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.89.

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.