Cullen Frost Bankers Inc. Sells 546 Shares of The Boeing Company (NYSE:BA)

Cullen Frost Bankers Inc. reduced its holdings in shares of The Boeing Company (NYSE:BAFree Report) by 3.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,781 shares of the aircraft producer’s stock after selling 546 shares during the period. Cullen Frost Bankers Inc.’s holdings in Boeing were worth $2,691,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in BA. Vanguard Group Inc. raised its stake in Boeing by 24.4% in the fourth quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock worth $11,406,361,000 after buying an additional 12,641,715 shares in the last quarter. Geode Capital Management LLC increased its holdings in Boeing by 29.5% in the 4th quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock valued at $2,677,170,000 after acquiring an additional 3,452,075 shares during the last quarter. Northern Trust Corp increased its holdings 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 buying an additional 1,634,231 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new position in Boeing during the 4th quarter valued at about $568,000. Finally, Alyeska Investment Group L.P. bought a new position in Boeing in the 4th quarter worth about $526,889,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Boeing

In related news, EVP Jeffrey S. Shockey sold 3,205 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the sale, the executive vice president owned 20,513 shares of the company’s stock, valued at $4,161,472.31. The trade was a 13.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David Christopher Raymond sold 3,899 shares of the company’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $187.01, for a total transaction of $729,151.99. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 7,744 shares of company stock valued at $1,511,370 in the last three months. 0.09% of the stock is currently owned by company insiders.

Boeing Price Performance

NYSE BA opened at $231.00 on Friday. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $233.61. The company’s 50 day simple moving average is $209.57 and its 200 day simple moving average is $184.37. The firm has a market capitalization of $174.17 billion, a PE ratio of -12.89 and a beta of 1.41.

Boeing (NYSE:BAGet Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($1.39) by $0.90. The firm had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.57 billion. Boeing’s revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.13) EPS. Sell-side analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BA shares. Morgan Stanley upped their price objective on shares of Boeing from $200.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Thursday. JPMorgan Chase & Co. raised their target price on shares of Boeing from $200.00 to $230.00 and gave the stock an “overweight” rating in a research note on Wednesday. Jefferies Financial Group boosted their target price on shares of Boeing from $230.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. Bank of America raised shares of Boeing from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $185.00 to $260.00 in a research report on Monday, June 2nd. Finally, Royal Bank Of Canada reaffirmed a “cautious” rating on shares of Boeing in a report on Thursday, June 12th. Four analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $221.55.

Get Our Latest Stock Analysis on BA

About Boeing

(Free Report)

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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