Congress Wealth Management LLC DE Trims Stock Position in The Boeing Company (NYSE:BA)

Congress Wealth Management LLC DE trimmed its holdings in The Boeing Company (NYSE:BA) by 39.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 19,392 shares of the aircraft producer’s stock after selling 12,497 shares during the period. Congress Wealth Management LLC DE’s holdings in Boeing were worth $3,433,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Mountain Hill Investment Partners Corp. purchased a new stake in Boeing in the 4th quarter valued at about $115,000. Crowley Wealth Management Inc. acquired a new stake in shares of Boeing during the fourth quarter valued at about $149,000. Vanguard Group Inc. increased 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 valued at $11,406,361,000 after acquiring an additional 12,641,715 shares during the last quarter. Meridian Wealth Partners LLC raised its stake in shares of Boeing by 9.1% in the 4th quarter. Meridian Wealth Partners LLC now owns 1,446 shares of the aircraft producer’s stock valued at $256,000 after acquiring an additional 121 shares during the period. Finally, LPL Financial LLC lifted its holdings in shares of Boeing by 9.0% in the 4th quarter. LPL Financial LLC now owns 957,484 shares of the aircraft producer’s stock worth $169,475,000 after acquiring an additional 78,729 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analysts Set New Price Targets

BA has been the subject of several research reports. Susquehanna lifted their target price on shares of Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research note on Wednesday, January 29th. Barclays upgraded Boeing from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $190.00 to $210.00 in a report on Monday, January 6th. UBS Group boosted their price target on shares of Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, StockNews.com raised shares of Boeing to a “sell” rating in a research report on Wednesday, March 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $195.68.

Insider Activity at Boeing

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of Boeing stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total transaction of $570,799.71. Following the transaction, the executive vice president now owns 19,213 shares of the company’s stock, valued at $3,471,596.97. The trade was a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.09% of the stock is owned by corporate insiders.

Boeing Stock Performance

Shares of NYSE BA opened at $178.42 on Thursday. The stock’s 50-day simple moving average is $173.74 and its 200-day simple moving average is $164.00. The firm has a market capitalization of $133.83 billion, a PE ratio of -9.74 and a beta of 1.53. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $196.95.

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 prior year, the business earned ($0.47) EPS. On average, sell-side analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

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.