Independence Bank of Kentucky Sells 5,130 Shares of The Boeing Company (NYSE:BA)

Independence Bank of Kentucky decreased its position in shares of The Boeing Company (NYSE:BA) by 65.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,670 shares of the aircraft producer’s stock after selling 5,130 shares during the period. Independence Bank of Kentucky’s holdings in Boeing were worth $515,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in BA. Vermillion & White Wealth Management Group LLC bought a new stake in Boeing during the 4th quarter valued at approximately $26,000. Evolution Advisers Inc. purchased a new stake in Boeing during the 4th quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Boeing during the fourth quarter valued at approximately $28,000. Vima LLC purchased a new position in shares of Boeing in the fourth quarter worth $34,000. Finally, Accent Capital Management LLC bought a new position in shares of Boeing during the fourth quarter worth $39,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analyst Ratings Changes

BA has been the topic of a number of research reports. Citigroup reduced their price target on shares of Boeing from $252.00 to $224.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Stifel Nicolaus reiterated a “buy” rating and issued a $240.00 target price on shares of Boeing in a research report on Wednesday, May 15th. StockNews.com cut Boeing from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Melius reaffirmed a “hold” rating on shares of Boeing in a research note on Monday, April 1st. Finally, Melius Research reiterated a “hold” rating on shares of Boeing in a research report on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $220.89.

Boeing Stock Performance

Shares of NYSE BA opened at $182.01 on Friday. The business’s 50 day moving average price is $178.50 and its 200-day moving average price is $198.42. The Boeing Company has a fifty-two week low of $159.70 and a fifty-two week high of $267.54. The company has a market cap of $111.73 billion, a price-to-earnings ratio of -51.27 and a beta of 1.55.

Boeing (NYSE:BA) last released its earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.43) by $0.30. The business had revenue of $16.57 billion during the quarter, compared to analysts’ expectations of $17.69 billion. Sell-side analysts predict that The Boeing Company will post -1.67 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.