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

Pinnacle Financial Partners Inc cut its stake in The Boeing Company (NYSE:BAFree Report) by 4.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,881 shares of the aircraft producer’s stock after selling 161 shares during the period. Pinnacle Financial Partners Inc’s holdings in Boeing were worth $1,012,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. United Bank grew its stake in shares of Boeing by 4.7% during the first quarter. United Bank now owns 5,036 shares of the aircraft producer’s stock valued at $964,000 after buying an additional 226 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Boeing by 1,064.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 850 shares of the aircraft producer’s stock valued at $163,000 after buying an additional 777 shares during the last quarter. Panagora Asset Management Inc. grew its stake in shares of Boeing by 68.0% during the first quarter. Panagora Asset Management Inc. now owns 7,111 shares of the aircraft producer’s stock valued at $1,362,000 after buying an additional 2,879 shares during the last quarter. Prudential PLC bought a new position in shares of Boeing during the first quarter valued at about $836,000. Finally, Dakota Wealth Management grew its stake in shares of Boeing by 26.7% during the first quarter. Dakota Wealth Management now owns 2,127 shares of the aircraft producer’s stock valued at $408,000 after buying an additional 448 shares during the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Price Performance

Shares of Boeing stock opened at $188.17 on Wednesday. The company’s fifty day simple moving average is $199.27 and its 200-day simple moving average is $209.46. The stock has a market capitalization of $114.81 billion, a PE ratio of -51.16, a P/E/G ratio of 48.46 and a beta of 1.52. The Boeing Company has a 1-year low of $176.25 and a 1-year high of $267.54.

Boeing (NYSE:BAGet Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.25. The business had revenue of $22.02 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter in the prior year, the business earned ($1.75) EPS. The company’s revenue was up 10.2% compared to the same quarter last year. As a group, research analysts anticipate that The Boeing Company will post 1 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on BA shares. William Blair started coverage on shares of Boeing in a report on Tuesday, December 12th. They set an “outperform” rating for the company. Citigroup dropped their target price on shares of Boeing from $263.00 to $252.00 and set a “buy” rating for the company in a report on Thursday, March 28th. The Goldman Sachs Group dropped their target price on shares of Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a report on Monday, March 25th. Morgan Stanley reiterated an “equal weight” rating and set a $235.00 target price on shares of Boeing in a report on Monday, March 25th. Finally, Benchmark reiterated a “buy” rating and set a $250.00 target price on shares of Boeing in a report on Tuesday, March 26th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and an average price target of $241.53.

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Boeing Company Profile

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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.

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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