Truist Financial Corp Trims Holdings in The Boeing Company (NYSE:BA)

Truist Financial Corp reduced its holdings in shares of The Boeing Company (NYSE:BA) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 376,961 shares of the aircraft producer’s stock after selling 15,306 shares during the quarter. Truist Financial Corp’s holdings in Boeing were worth $98,259,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strategic Blueprint LLC raised its position in shares of Boeing by 8.7% during the 4th quarter. Strategic Blueprint LLC now owns 3,295 shares of the aircraft producer’s stock valued at $859,000 after acquiring an additional 264 shares in the last quarter. Morse Asset Management Inc raised its position in shares of Boeing by 65.0% during the 3rd quarter. Morse Asset Management Inc now owns 7,999 shares of the aircraft producer’s stock valued at $1,533,000 after acquiring an additional 3,152 shares in the last quarter. Peregrine Asset Advisers Inc. raised its position in shares of Boeing by 1,335.3% during the 3rd quarter. Peregrine Asset Advisers Inc. now owns 36,443 shares of the aircraft producer’s stock valued at $6,985,000 after acquiring an additional 33,904 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Boeing by 2.0% during the 3rd quarter. California Public Employees Retirement System now owns 1,037,044 shares of the aircraft producer’s stock valued at $198,781,000 after acquiring an additional 19,847 shares in the last quarter. Finally, J.W. Cole Advisors Inc. raised its position in shares of Boeing by 5.8% during the 4th quarter. J.W. Cole Advisors Inc. now owns 29,133 shares of the aircraft producer’s stock valued at $7,594,000 after acquiring an additional 1,596 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Trading Up 0.2 %

BA stock traded up $0.41 during trading hours on Friday, hitting $167.22. 7,208,103 shares of the stock traded hands, compared to its average volume of 7,379,195. The stock has a 50-day simple moving average of $186.53 and a 200 day simple moving average of $206.46. The Boeing Company has a one year low of $159.70 and a one year high of $267.54. The company has a market cap of $102.65 billion, a P/E ratio of -47.12, a P/E/G ratio of 140.08 and a beta of 1.52.

Boeing (NYSE:BA) last announced its 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 firm had revenue of $22.02 billion for the quarter, compared to the consensus estimate of $21.14 billion. During the same period in the prior year, the business earned ($1.75) EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. Analysts forecast that The Boeing Company will post 0.3 earnings per share for the current year.

Analysts Set New Price Targets

BA has been the topic of several research reports. Sanford C. Bernstein dropped their price target on Boeing from $272.00 to $240.00 and set an “outperform” rating on the stock in a research report on Monday, April 8th. Royal Bank of Canada dropped their target price on Boeing from $225.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 16th. Northcoast Research lowered Boeing from a “neutral” rating to a “sell” rating and set a $140.00 target price on the stock. in a research report on Wednesday, April 17th. Melius Research reaffirmed a “hold” rating on shares of Boeing in a research report on Monday, April 1st. Finally, Barclays dropped their target price on Boeing from $235.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $222.41.

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.