The Boeing Company (NYSE:BA) Stake Lessened by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp trimmed its stake in shares of The Boeing Company (NYSE:BA) by 27.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,543 shares of the aircraft producer’s stock after selling 16,432 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Boeing were worth $7,529,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of BA. Quarry LP grew its position in shares of Boeing by 12.6% in the 3rd quarter. Quarry LP now owns 688 shares of the aircraft producer’s stock worth $105,000 after acquiring an additional 77 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in Boeing by 49.0% in the third quarter. Kovitz Investment Group Partners LLC now owns 21,454 shares of the aircraft producer’s stock worth $3,262,000 after purchasing an additional 7,052 shares during the period. Kensington Investment Counsel LLC boosted its holdings in Boeing by 8.0% in the third quarter. Kensington Investment Counsel LLC now owns 1,355 shares of the aircraft producer’s stock worth $206,000 after purchasing an additional 100 shares during the period. Northeast Financial Consultants Inc increased its stake in Boeing by 438.4% during the third quarter. Northeast Financial Consultants Inc now owns 14,737 shares of the aircraft producer’s stock valued at $2,241,000 after purchasing an additional 12,000 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Boeing by 7.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 208,515 shares of the aircraft producer’s stock worth $31,703,000 after buying an additional 14,430 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

BA has been the subject of a number of recent research reports. StockNews.com raised shares of Boeing to a “sell” rating in a research report on Saturday. Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research report on Wednesday, January 29th. Citigroup increased their target price on Boeing from $207.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $196.10.

Insider Activity

In related news, EVP Uma M. Amuluru sold 3,159 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by company insiders.

Boeing Trading Down 9.5 %

NYSE:BA opened at $136.61 on Monday. The company has a 50-day moving average of $172.36 and a 200-day moving average of $164.28. The Boeing Company has a twelve month low of $128.74 and a twelve month high of $196.95. The firm has a market cap of $102.47 billion, a price-to-earnings ratio of -7.46 and a beta of 1.53.

Boeing (NYSE:BA) last posted its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period in the previous year, the business posted ($0.47) EPS. On average, research analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

Boeing Company 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.