PNC Financial Services Group Inc. Has $62.82 Million Stock Position in The Boeing Company (NYSE:BA)

PNC Financial Services Group Inc. decreased its stake in The Boeing Company (NYSE:BA) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 354,885 shares of the aircraft producer’s stock after selling 9,644 shares during the period. PNC Financial Services Group Inc.’s holdings in Boeing were worth $62,815,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp grew its stake in shares of Boeing by 2.3% in the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after acquiring an additional 636,594 shares during the last quarter. Geode Capital Management LLC increased its holdings in Boeing by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock valued at $1,774,705,000 after buying an additional 320,415 shares during the period. Jennison Associates LLC increased its holdings in Boeing by 9.9% in the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after buying an additional 602,143 shares during the period. Fisher Asset Management LLC increased its holdings 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 valued at $890,469,000 after buying an additional 164,042 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Boeing by 30.7% in 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 buying an additional 981,796 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Down 2.7 %

Shares of NYSE BA opened at $154.20 on Monday. The firm’s 50-day simple moving average is $175.03 and its 200 day simple moving average is $164.15. The company has a market cap of $115.66 billion, a price-to-earnings ratio of -8.42 and a beta of 1.53. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $203.80.

Boeing (NYSE:BA) last issued its quarterly earnings results 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 posted ($0.47) EPS. On average, equities analysts expect that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Buying and Selling at Boeing

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $180.69, for a total transaction of $570,799.71. Following the transaction, the executive vice president now directly owns 19,213 shares in the company, valued at approximately $3,471,596.97. This represents a 14.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BA shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. UBS Group boosted their price target on shares of Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Wells Fargo & Company boosted their price target on shares of Boeing from $85.00 to $103.00 and gave the company an “underweight” rating in a report on Wednesday, January 29th. Northcoast Research raised shares of Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. Finally, Susquehanna boosted their price target on shares of Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $195.16.

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.