1ST Source Bank Lowers Stock Holdings in The Boeing Company (NYSE:BA)

1ST Source Bank lessened its holdings in The Boeing Company (NYSE:BA) by 1.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,450 shares of the aircraft producer’s stock after selling 83 shares during the quarter. 1ST Source Bank’s holdings in Boeing were worth $788,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Signaturefd LLC lifted its position in shares of Boeing by 23.3% in the 4th quarter. Signaturefd LLC now owns 11,063 shares of the aircraft producer’s stock worth $1,958,000 after purchasing an additional 2,091 shares during the period. Pitti Group Wealth Management LLC lifted its position in shares of Boeing by 40.2% in the 4th quarter. Pitti Group Wealth Management LLC now owns 10,863 shares of the aircraft producer’s stock worth $1,923,000 after purchasing an additional 3,113 shares during the period. Cibc World Markets Corp lifted its position in shares of Boeing by 15.4% in the 4th quarter. Cibc World Markets Corp now owns 258,528 shares of the aircraft producer’s stock worth $45,759,000 after purchasing an additional 34,495 shares during the period. SouthState Corp lifted its position in shares of Boeing by 45.5% in the 4th quarter. SouthState Corp now owns 3,611 shares of the aircraft producer’s stock worth $639,000 after purchasing an additional 1,130 shares during the period. Finally, RS Crum Inc. lifted its position in shares of Boeing by 2.4% in the 4th quarter. RS Crum Inc. now owns 2,988 shares of the aircraft producer’s stock worth $529,000 after purchasing an additional 69 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Insider Transactions at Boeing

In related news, EVP Uma M. Amuluru sold 3,159 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 19,213 shares of the company’s stock, valued at approximately $3,471,596.97. This 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 this hyperlink. Company insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

BA has been the subject of several research reports. StockNews.com raised shares of Boeing to a “sell” rating in a research report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Barclays upgraded shares of Boeing from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $190.00 to $210.00 in a research note on Monday, January 6th. Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Finally, Wells Fargo & Company boosted their price objective on shares of Boeing from $103.00 to $113.00 and gave the stock an “underweight” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $195.68.

Boeing Price Performance

NYSE:BA opened at $162.04 on Tuesday. The firm has a market capitalization of $121.54 billion, a P/E ratio of -8.84 and a beta of 1.53. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $196.95. The company’s fifty day moving average price is $173.05 and its 200-day moving average price is $163.49.

Boeing (NYSE:BA) last released its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period in the previous year, the business posted ($0.47) EPS. Equities analysts anticipate that The Boeing Company will post -2.58 EPS for the current fiscal 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.