Pinnacle Financial Partners Inc Reduces Stock Position in The Boeing Company (NYSE:BA)

Pinnacle Financial Partners Inc cut its stake in The Boeing Company (NYSE:BA) by 14.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,401 shares of the aircraft producer’s stock after selling 420 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Boeing were worth $425,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in BA. Sierra Ocean LLC purchased a new position in Boeing in the fourth quarter worth approximately $26,000. Sugar Maple Asset Management LLC acquired a new position in Boeing during the fourth quarter worth $27,000. RPg Family Wealth Advisory LLC acquired a new position in Boeing during the third quarter worth $28,000. Fiduciary Advisors Inc. acquired a new position in Boeing during the fourth quarter worth $28,000. Finally, HighMark Wealth Management LLC lifted its stake in Boeing by 121.6% during the fourth quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock worth $29,000 after purchasing an additional 90 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions 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 stock was sold at an average price of $180.69, for a total value of $570,799.71. Following the transaction, the executive vice president now owns 19,213 shares in the company, valued at $3,471,596.97. The trade was a 14.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Wells Fargo & Company upped their price target on Boeing from $85.00 to $103.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 29th. Citigroup upped their price target on Boeing from $207.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Sanford C. Bernstein cut Boeing from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $195.00 to $169.00 in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $195.16.

Boeing Stock Performance

BA opened at $177.34 on Monday. The business’s 50-day simple moving average is $176.74 and its 200-day simple moving average is $164.39. The Boeing Company has a one year low of $137.03 and a one year high of $208.10. The stock has a market capitalization of $133.02 billion, a P/E ratio of -9.68 and a beta of 1.52.

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

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.