NBT Bank N A NY Lowers Stock Position in The Boeing Company (NYSE:BA)

NBT Bank N A NY cut its holdings in The Boeing Company (NYSE:BA) by 4.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,031 shares of the aircraft producer’s stock after selling 499 shares during the quarter. NBT Bank N A NY’s holdings in Boeing were worth $2,052,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in 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 buying an additional 12,641,715 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Boeing by 29.5% in the 4th quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock worth $2,677,170,000 after purchasing an additional 3,452,075 shares during the last quarter. Northern Trust Corp raised its position in shares of Boeing by 33.6% in the 4th quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer’s stock worth $1,151,316,000 after purchasing an additional 1,634,231 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Boeing by 3.4% in the 4th quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer’s stock worth $890,469,000 after purchasing an additional 164,042 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Boeing by 30.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,178,444 shares of the aircraft producer’s stock valued at $739,585,000 after purchasing an additional 981,796 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Trading Down 0.7%

Shares of BA stock opened at $200.21 on Wednesday. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $218.80. The stock has a market cap of $150.96 billion, a P/E ratio of -11.17 and a beta of 1.43. The company has a 50 day simple moving average of $190.97 and a two-hundred day simple moving average of $177.59.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.39) by $0.90. The business had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.57 billion. The company’s revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.13) EPS. As a group, equities analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Activity at Boeing

In related news, SVP Brendan J. Nelson sold 640 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the completion of the sale, the senior vice president now directly owns 13,258 shares of the company’s stock, valued at approximately $2,734,860.24. This represents a 4.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total transaction of $650,198.35. Following the sale, the executive vice president now owns 20,513 shares in the company, valued at approximately $4,161,472.31. The trade was a 13.51% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,744 shares of company stock worth $1,511,370. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

BA has been the subject of a number of analyst reports. Royal Bank Of Canada restated a “cautious” rating on shares of Boeing in a research note on Thursday, June 12th. Sanford C. Bernstein raised shares of Boeing from a “market perform” rating to an “outperform” rating and raised their price target for the company from $181.00 to $218.00 in a research report on Monday, April 28th. Susquehanna restated a “positive” rating and issued a $240.00 price objective (up from $205.00) on shares of Boeing in a report on Wednesday, May 14th. Citigroup reiterated a “buy” rating on shares of Boeing in a research note on Thursday, May 22nd. Finally, Cowen restated a “buy” rating on shares of Boeing in a research note on Wednesday, May 7th. Four analysts have rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $209.85.

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.