Shell Asset Management Co. Sells 19,841 Shares of Boeing Co (NYSE:BA)

Shell Asset Management Co. reduced its position in Boeing Co (NYSE:BA) by 31.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,385 shares of the aircraft producer’s stock after selling 19,841 shares during the quarter. Shell Asset Management Co.’s holdings in Boeing were worth $6,470,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Nicholas Hoffman & Company LLC. increased its holdings in Boeing by 7.5% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 1,570 shares of the aircraft producer’s stock valued at $234,000 after buying an additional 109 shares during the period. Bedel Financial Consulting Inc. increased its holdings in Boeing by 92.9% in the 1st quarter. Bedel Financial Consulting Inc. now owns 1,555 shares of the aircraft producer’s stock valued at $232,000 after buying an additional 749 shares during the period. National Asset Management Inc. increased its holdings in Boeing by 2.2% in the 1st quarter. National Asset Management Inc. now owns 17,181 shares of the aircraft producer’s stock valued at $2,563,000 after buying an additional 371 shares during the period. Staley Capital Advisers Inc. bought a new position in Boeing in the 1st quarter valued at about $22,142,000. Finally, Toroso Investments LLC increased its holdings in Boeing by 14.5% in the 1st quarter. Toroso Investments LLC now owns 1,541 shares of the aircraft producer’s stock valued at $230,000 after buying an additional 195 shares during the period. 65.59% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Boeing stock traded down $1.47 during trading on Friday, reaching $137.53. 21,072,749 shares of the company traded hands, compared to its average volume of 33,287,024. Boeing Co has a 1-year low of $89.00 and a 1-year high of $391.00. The company has a 50 day moving average price of $135.22 and a 200-day moving average price of $264.07. The firm has a market capitalization of $78.44 billion, a PE ratio of -22.69 and a beta of 1.45.

Boeing (NYSE:BA) last released its earnings results on Wednesday, April 29th. The aircraft producer reported ($1.70) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($2.04) by $0.34. Boeing had a negative net margin of 4.84% and a negative return on equity of 3.08%. The company had revenue of $16.91 billion for the quarter, compared to the consensus estimate of $16.90 billion. During the same quarter in the previous year, the company earned $3.16 EPS. Boeing’s quarterly revenue was down 26.2% compared to the same quarter last year. As a group, equities research analysts forecast that Boeing Co will post -5.05 earnings per share for the current year.

BA has been the topic of several recent analyst reports. Barclays reissued a “neutral” rating and issued a $125.00 target price on shares of Boeing in a report on Friday, May 1st. TheStreet lowered shares of Boeing from a “c-” rating to a “d” rating in a report on Wednesday, April 29th. Cowen reaffirmed a “hold” rating and set a $150.00 price target on shares of Boeing in a report on Tuesday, May 12th. Citigroup lowered shares of Boeing from a “buy” rating to a “neutral” rating and set a $175.00 price target on the stock. in a report on Monday, April 20th. Finally, Sanford C. Bernstein reaffirmed a “buy” rating and set a $401.00 price target on shares of Boeing in a report on Wednesday, January 29th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the company’s stock. Boeing has a consensus rating of “Hold” and a consensus price target of $231.04.

Boeing Company Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

Further Reading: Understanding each part of a balance sheet

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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