Linscomb Wealth Inc. Sells 161 Shares of The Boeing Company (NYSE:BA)

Linscomb Wealth Inc. trimmed its holdings in The Boeing Company (NYSE:BA) by 8.6% in the fourth quarter, HoldingsChannel reports. The fund owned 1,719 shares of the aircraft producer’s stock after selling 161 shares during the period. Linscomb Wealth Inc.’s holdings in Boeing were worth $304,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Sierra Ocean LLC bought a new stake in Boeing in the fourth quarter worth $26,000. Sugar Maple Asset Management LLC bought a new stake in shares of Boeing in the 4th quarter valued at about $27,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Boeing in the 3rd quarter valued at about $28,000. Fiduciary Advisors Inc. purchased a new stake in Boeing during the 4th quarter valued at about $28,000. Finally, HighMark Wealth Management LLC grew its position in Boeing by 121.6% during the 4th quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock worth $29,000 after acquiring an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Insider Activity

In other news, EVP Uma M. Amuluru sold 3,159 shares of the firm’s stock in a transaction 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 completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

BA has been the subject of a number of analyst reports. Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $190.00 to $210.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. increased their price target on shares of Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. UBS Group boosted their price objective on shares of Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Citigroup upped their price objective on shares of Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Finally, Wells Fargo & Company boosted their price target on Boeing from $85.00 to $103.00 and gave the company an “underweight” rating in a report on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $195.16.

Boeing Trading Up 0.6 %

Shares of Boeing stock opened at $174.84 on Friday. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $206.62. The firm has a market capitalization of $131.14 billion, a P/E ratio of -9.54 and a beta of 1.52. The business has a fifty day simple moving average of $176.87 and a two-hundred day simple moving average of $164.74.

Boeing (NYSE:BA) last issued its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same quarter in the prior year, the firm earned ($0.47) EPS. Analysts predict that The Boeing Company will post -2.58 earnings per share for the current 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.