Fulton Breakefield Broenniman LLC Sells 1,191 Shares of The Boeing Company (NYSE:BA)

Fulton Breakefield Broenniman LLC reduced its holdings in shares of The Boeing Company (NYSE:BA) by 29.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,852 shares of the aircraft producer’s stock after selling 1,191 shares during the period. Fulton Breakefield Broenniman LLC’s holdings in Boeing were worth $486,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. KKM Financial LLC grew its holdings in shares of Boeing by 50.8% in the fourth quarter. KKM Financial LLC now owns 15,368 shares of the aircraft producer’s stock worth $2,720,000 after purchasing an additional 5,175 shares during the last quarter. Wynn Capital LLC bought a new position in shares of Boeing in the first quarter worth approximately $584,000. Grant Private Wealth Management Inc bought a new position in shares of Boeing in the fourth quarter worth approximately $903,000. Advanced Portfolio Management LLC grew its holdings in shares of Boeing by 182.2% in the fourth quarter. Advanced Portfolio Management LLC now owns 15,000 shares of the aircraft producer’s stock worth $2,655,000 after purchasing an additional 9,684 shares during the last quarter. Finally, Zimmer Partners LP bought a new position in shares of Boeing in the fourth quarter worth approximately $393,736,000. 64.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BA shares. Redburn Atlantic upgraded shares of Boeing from a “hold” rating to a “strong-buy” rating and raised their target price for the stock from $180.00 to $275.00 in a report on Friday, June 27th. Rothschild & Co Redburn raised Boeing from a “neutral” rating to a “buy” rating and set a $275.00 price target for the company in a research note on Friday, June 27th. UBS Group raised their price target on Boeing from $207.00 to $226.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Wells Fargo & Company reaffirmed an “underweight” rating on shares of Boeing in a research note on Thursday, May 22nd. Finally, The Goldman Sachs Group set a $212.00 price target on Boeing and gave the stock a “buy” rating in a research note on Thursday, June 12th. Four research analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and an average target price of $216.32.

Insider Transactions at Boeing

In other news, EVP David Christopher Raymond sold 3,899 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $187.01, for a total value of $729,151.99. Following the transaction, the executive vice president owned 42,513 shares in the company, valued at $7,950,356.13. This represents a 8.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Brendan J. Nelson sold 640 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $206.28, for a total transaction of $132,019.20. Following the completion of the sale, the senior vice president directly owned 13,258 shares of the company’s stock, valued at $2,734,860.24. This represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,744 shares of company stock worth $1,511,370 in the last quarter. Company insiders own 0.09% of the company’s stock.

Boeing Stock Performance

Shares of NYSE:BA opened at $226.68 on Friday. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $230.20. The business has a 50-day simple moving average of $206.14 and a two-hundred day simple moving average of $182.98. The firm has a market cap of $170.92 billion, a price-to-earnings ratio of -12.65 and a beta of 1.41.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.39) by $0.90. The business had revenue of $19.50 billion during the quarter, compared to analysts’ expectations of $19.57 billion. During the same period last year, the firm posted ($1.13) EPS. Boeing’s quarterly revenue was up 17.7% compared to the same quarter last year. As a group, research 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.