Pingora Partners LLC Reduces Position in The Boeing Company (NYSE:BA)

Pingora Partners LLC reduced its position in shares of The Boeing Company (NYSE:BA - Free Report) by 19.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,831 shares of the aircraft producer's stock after selling 2,355 shares during the period. Boeing accounts for about 1.1% of Pingora Partners LLC's holdings, making the stock its 15th biggest position. Pingora Partners LLC's holdings in Boeing were worth $1,740,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BA. Sierra Ocean LLC purchased a new stake in shares of Boeing during the 4th quarter valued at $26,000. Sugar Maple Asset Management LLC bought a new stake in Boeing in the fourth quarter worth about $27,000. Fiduciary Advisors Inc. bought a new position in shares of Boeing during the 4th quarter valued at approximately $28,000. HighMark Wealth Management LLC increased its stake in shares of Boeing by 121.6% during the 4th quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer's stock worth $29,000 after purchasing an additional 90 shares during the last quarter. Finally, Anfield Capital Management LLC raised its holdings in shares of Boeing by 113.1% in the 4th quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer's stock worth $32,000 after purchasing an additional 95 shares during the period. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the stock in a transaction on 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 transaction, the executive vice president now owns 19,213 shares in the company, valued at approximately $3,471,596.97. This represents a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BA shares. Benchmark dropped their price target on Boeing from $250.00 to $215.00 and set a "buy" rating on the stock in a research report on Monday, April 21st. StockNews.com upgraded shares of Boeing to a "sell" rating in a research report on Thursday. Morgan Stanley lifted their target price on shares of Boeing from $175.00 to $185.00 and gave the stock an "equal weight" rating in a research note on Thursday. Wells Fargo & Company restated an "underweight" rating and set a $140.00 price target (up from $111.00) on shares of Boeing in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Boeing from $190.00 to $200.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $198.45.

Boeing Trading Up 0.9 %

NYSE BA traded up $1.66 on Friday, hitting $177.92. The company's stock had a trading volume of 7,635,951 shares, compared to its average volume of 9,059,394. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $196.95. The firm has a market cap of $133.46 billion, a P/E ratio of -9.71 and a beta of 1.24. The company's 50-day simple moving average is $164.87 and its 200 day simple moving average is $164.69.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, topping the consensus estimate of ($1.39) by $0.90. The company had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.57 billion. On average, research analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal 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.