Mitsubishi UFJ Trust & Banking Corp Sells 23,546 Shares of The Boeing Company (NYSE:BA)

Mitsubishi UFJ Trust & Banking Corp cut its stake in The Boeing Company (NYSE:BA) by 7.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 290,952 shares of the aircraft producer’s stock after selling 23,546 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Boeing were worth $56,143,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vermillion & White Wealth Management Group LLC bought a new position in Boeing during the fourth quarter valued at about $26,000. Evolution Advisers Inc. acquired a new position in shares of Boeing in the fourth quarter valued at $28,000. DiNuzzo Private Wealth Inc. bought a new position in Boeing in the fourth quarter worth $28,000. Vima LLC acquired a new stake in Boeing during the fourth quarter worth $34,000. Finally, McClarren Financial Advisors Inc. increased its holdings in Boeing by 451.4% in the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after buying an additional 158 shares during the period. Institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BA shares. Baird R W upgraded shares of Boeing to a “strong-buy” rating in a research report on Monday, June 3rd. Barclays lowered their price objective on Boeing from $235.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Monday, April 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $225.00 target price on shares of Boeing in a research report on Tuesday, June 25th. Robert W. Baird lowered their price target on Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a research report on Monday, June 3rd. Finally, JPMorgan Chase & Co. cut their price objective on Boeing from $230.00 to $210.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and a consensus target price of $220.89.

Boeing Stock Performance

Boeing stock traded down $0.56 during trading hours on Friday, reaching $179.67. 5,121,317 shares of the company’s stock traded hands, compared to its average volume of 5,748,541. The Boeing Company has a fifty-two week low of $159.70 and a fifty-two week high of $267.54. The firm’s 50 day moving average is $181.49 and its 200-day moving average is $190.43. The firm has a market capitalization of $110.30 billion, a price-to-earnings ratio of -50.61 and a beta of 1.56.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) EPS for the quarter, topping the consensus estimate of ($1.43) by $0.30. The business had revenue of $16.57 billion for the quarter, compared to analyst estimates of $17.69 billion. Analysts predict that The Boeing Company will post -2 EPS for the current year.

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.