The Boeing Company (NYSE:BA) Shares Sold by Patten & Patten Inc. TN

Patten & Patten Inc. TN decreased its stake in The Boeing Company (NYSE:BA) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,963 shares of the aircraft producer’s stock after selling 640 shares during the quarter. Patten & Patten Inc. TN’s holdings in Boeing were worth $4,242,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BA. Assetmark Inc. grew its position in Boeing by 65.2% during the third quarter. Assetmark Inc. now owns 1,057 shares of the aircraft producer’s stock valued at $161,000 after buying an additional 417 shares during the period. KBC Group NV boosted its stake in shares of Boeing by 5.1% during the 3rd quarter. KBC Group NV now owns 45,583 shares of the aircraft producer’s stock worth $6,930,000 after acquiring an additional 2,201 shares in the last quarter. Zions Bancorporation N.A. increased its stake in shares of Boeing by 85.4% in the 3rd quarter. Zions Bancorporation N.A. now owns 1,550 shares of the aircraft producer’s stock valued at $236,000 after purchasing an additional 714 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Boeing by 8.9% in the 3rd quarter. CIBC Asset Management Inc now owns 89,401 shares of the aircraft producer’s stock worth $13,593,000 after purchasing an additional 7,295 shares during the period. Finally, Empowered Funds LLC boosted its position in Boeing by 3.5% during the third quarter. Empowered Funds LLC now owns 15,006 shares of the aircraft producer’s stock worth $2,282,000 after purchasing an additional 505 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Stock Performance

BA stock opened at $162.00 on Friday. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $196.95. The firm has a market capitalization of $121.51 billion, a price-to-earnings ratio of -8.84 and a beta of 1.53. The company’s 50 day moving average price is $173.23 and its 200 day moving average price is $163.62.

Boeing (NYSE:BA) last released its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period last year, the business earned ($0.47) earnings per share. Equities analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Activity

In other news, EVP Uma M. Amuluru sold 3,159 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $180.69, for a total value of $570,799.71. Following the completion of the sale, the executive vice president now directly owns 19,213 shares of the company’s stock, valued at approximately $3,471,596.97. The trade was a 14.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. UBS Group boosted their price target on shares of Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. lifted their price objective on Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. StockNews.com raised Boeing to a “sell” rating in a research report on Wednesday. Finally, Susquehanna upped their price objective on shares of Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and an average target price of $195.16.

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.