Truist Financial Corp Reduces Stock Position in The Boeing Company (NYSE:BA)

Truist Financial Corp cut its position in shares of The Boeing Company (NYSE:BA) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 376,961 shares of the aircraft producer’s stock after selling 15,306 shares during the period. Truist Financial Corp owned approximately 0.06% of Boeing worth $98,259,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. CNB Bank lifted its holdings in Boeing by 106.5% during the 3rd quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock valued at $25,000 after buying an additional 66 shares in the last quarter. Evolution Advisers Inc. bought a new stake in shares of Boeing in the 4th quarter valued at about $28,000. Lowe Wealth Advisors LLC bought a new position in shares of Boeing during the 3rd quarter worth approximately $43,000. Naples Money Management LLC bought a new position in shares of Boeing during the 4th quarter worth approximately $44,000. Finally, Blue Bell Private Wealth Management LLC raised its stake in shares of Boeing by 66.2% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 236 shares of the aircraft producer’s stock worth $45,000 after acquiring an additional 94 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Performance

Shares of NYSE BA traded up $0.41 during mid-day trading on Friday, reaching $167.22. The company’s stock had a trading volume of 7,208,103 shares, compared to its average volume of 7,379,195. The stock has a 50-day moving average of $186.53 and a two-hundred day moving average of $206.46. The stock has a market capitalization 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. The Boeing Company has a 1-year low of $159.70 and a 1-year high of $267.54.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The business had revenue of $22.02 billion during the quarter, compared to analyst estimates of $21.14 billion. Boeing’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the company earned ($1.75) earnings per share. Analysts predict that The Boeing Company will post 0.3 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on BA. StockNews.com lowered shares of Boeing from a “hold” rating to a “sell” rating in a research note on Friday. Northcoast Research lowered shares of Boeing from a “neutral” rating to a “sell” rating and set a $140.00 price objective for the company. in a research note on Wednesday, April 17th. UBS Group reduced their price objective on shares of Boeing from $275.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, March 21st. Barclays dropped their target price on shares of Boeing from $235.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Monday, April 22nd. Finally, Melius Research reissued a “hold” rating on shares of Boeing in a research report on Monday, April 1st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $222.41.

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.