OVERSEA CHINESE BANKING Corp Ltd Reduces Stock Position in The Boeing Company (NYSE:BA)

OVERSEA CHINESE BANKING Corp Ltd lowered its position in The Boeing Company (NYSE:BA) by 88.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,354 shares of the aircraft producer’s stock after selling 10,530 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Boeing were worth $245,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Keynote Financial Services LLC increased its holdings in shares of Boeing by 3.8% in the fourth quarter. Keynote Financial Services LLC now owns 1,542 shares of the aircraft producer’s stock worth $273,000 after purchasing an additional 57 shares during the period. Chaney Capital Management Inc. increased its holdings in shares of Boeing by 2.1% in the fourth quarter. Chaney Capital Management Inc. now owns 2,870 shares of the aircraft producer’s stock worth $508,000 after purchasing an additional 58 shares during the period. Farmers & Merchants Investments Inc. increased its holdings in shares of Boeing by 0.6% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 10,608 shares of the aircraft producer’s stock worth $1,878,000 after purchasing an additional 59 shares during the period. Center for Financial Planning Inc. increased its holdings in shares of Boeing by 12.0% in the fourth quarter. Center for Financial Planning Inc. now owns 562 shares of the aircraft producer’s stock worth $99,000 after purchasing an additional 60 shares during the period. Finally, Transcend Capital Advisors LLC increased its holdings in shares of Boeing by 1.3% in the fourth quarter. Transcend Capital Advisors LLC now owns 4,923 shares of the aircraft producer’s stock worth $871,000 after purchasing an additional 61 shares during the period. Institutional investors own 64.82% of the company’s stock.

Insiders Place Their Bets

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following the completion of the sale, the executive vice president now directly owns 19,213 shares in the company, valued at $3,471,596.97. This trade 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 link. 0.16% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BA has been the topic of a number of research analyst reports. Wells Fargo & Company increased their target price on Boeing from $103.00 to $113.00 and gave the company an “underweight” rating in a research note on Monday. JPMorgan Chase & Co. increased their target price on Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Boeing in a research note on Wednesday, January 29th. Finally, StockNews.com raised Boeing to a “sell” rating in a research note on Wednesday, March 12th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Boeing currently has an average rating of “Moderate Buy” and an average target price of $195.68.

Boeing Trading Up 0.1 %

Boeing stock opened at $172.82 on Friday. The firm has a 50-day moving average of $172.86 and a 200-day moving average of $163.54. The firm has a market cap of $129.63 billion, a P/E ratio of -9.43 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.

Boeing (NYSE:BA) last issued its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period last year, the firm posted ($0.47) EPS. Research 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.