Westchester Capital Management Inc. Sells 506 Shares of The Boeing Company (NYSE:BA)

Westchester Capital Management Inc. decreased its position in shares of The Boeing Company (NYSE:BA) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,797 shares of the aircraft producer’s stock after selling 506 shares during the quarter. Boeing accounts for approximately 0.8% of Westchester Capital Management Inc.’s investment portfolio, making the stock its 26th largest position. Westchester Capital Management Inc.’s holdings in Boeing were worth $2,814,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Strategic Blueprint LLC raised its stake in Boeing by 8.7% during the fourth quarter. Strategic Blueprint LLC now owns 3,295 shares of the aircraft producer’s stock worth $859,000 after acquiring an additional 264 shares in the last quarter. Rothschild Investment LLC IL increased its position in Boeing by 21.1% during the 3rd quarter. Rothschild Investment LLC IL now owns 75,101 shares of the aircraft producer’s stock worth $14,395,000 after purchasing an additional 13,079 shares in the last quarter. Meridian Wealth Management LLC lifted its stake in Boeing by 86.8% in the 3rd quarter. Meridian Wealth Management LLC now owns 24,776 shares of the aircraft producer’s stock valued at $4,749,000 after purchasing an additional 11,510 shares during the last quarter. Morse Asset Management Inc boosted its position in Boeing by 65.0% in the third quarter. Morse Asset Management Inc now owns 7,999 shares of the aircraft producer’s stock valued at $1,533,000 after buying an additional 3,152 shares in the last quarter. Finally, Peregrine Asset Advisers Inc. grew its stake in shares of Boeing by 1,335.3% during the third quarter. Peregrine Asset Advisers Inc. now owns 36,443 shares of the aircraft producer’s stock worth $6,985,000 after buying an additional 33,904 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Stock Down 1.9 %

BA traded down $3.24 during trading on Friday, hitting $170.12. 3,646,383 shares of the company traded hands, compared to its average volume of 9,872,062. The Boeing Company has a one year low of $170.10 and a one year high of $267.54. The stock’s fifty day moving average is $195.03 and its 200 day moving average is $208.14. The firm has a market cap of $103.80 billion, a P/E ratio of -46.76, a price-to-earnings-growth ratio of 58.16 and a beta of 1.52.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.25. The company had revenue of $22.02 billion during the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter last year, the firm posted ($1.75) earnings per share. Boeing’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities research analysts forecast that The Boeing Company will post 0.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BA shares. Edward Jones downgraded Boeing from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Stifel Nicolaus dropped their price target on shares of Boeing from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday. The Goldman Sachs Group cut their target price on Boeing from $268.00 to $257.00 and set a “buy” rating on the stock in a report on Monday, March 25th. JPMorgan Chase & Co. cut their price objective on Boeing from $230.00 to $210.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Citigroup decreased their target price on shares of Boeing from $263.00 to $252.00 and set a “buy” rating for the company in a research report on Thursday, March 28th. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $236.53.

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.