Sanibel Captiva Trust Company Inc. reduced its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 20.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,678 shares of the aircraft producer's stock after selling 3,788 shares during the quarter. Sanibel Captiva Trust Company Inc.'s holdings in Boeing were worth $2,232,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of BA. Wellington Management Group LLP grew its position in shares of Boeing by 563.9% during the 4th quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer's stock worth $896,434,000 after buying an additional 2,921,043 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Boeing by 23.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer's stock worth $2,560,466,000 after buying an additional 1,884,850 shares during the period. Global Assets Advisory LLC acquired a new position in shares of Boeing during the 1st quarter worth about $272,312,000. Vanguard Group Inc. grew its position in shares of Boeing by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer's stock valued at $9,596,383,000 after purchasing an additional 1,222,816 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of Boeing by 9,626.0% in the 2nd quarter. Van ECK Associates Corp now owns 1,026,092 shares of the aircraft producer's stock valued at $186,759,000 after purchasing an additional 1,015,542 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.
Shares of Boeing stock opened at $146.67 on Friday. The Boeing Company has a 12-month low of $146.26 and a 12-month high of $267.54. The stock has a market cap of $90.04 billion, a P/E ratio of -41.32 and a beta of 1.57. The business's 50 day moving average is $163.42 and its 200-day moving average is $174.42.
Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts' consensus estimates of ($1.00) by ($1.90). The company had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same quarter in the previous year, the business posted ($0.82) EPS. The company's revenue for the quarter was down 14.6% compared to the same quarter last year. On average, sell-side analysts expect that The Boeing Company will post -4.27 EPS for the current year.
Several equities analysts recently issued reports on BA shares. Susquehanna reiterated a "positive" rating and issued a $230.00 price objective on shares of Boeing in a research report on Wednesday, August 14th. Jefferies Financial Group decreased their price objective on Boeing from $270.00 to $240.00 and set a "buy" rating for the company in a research report on Monday, September 23rd. Stifel Nicolaus boosted their price objective on Boeing from $230.00 to $235.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. Sanford C. Bernstein decreased their price objective on Boeing from $222.00 to $207.00 and set an "outperform" rating for the company in a research report on Monday, August 5th. Finally, Bank of America boosted their price objective on Boeing from $180.00 to $200.00 and gave the company a "neutral" rating in a research report on Thursday, June 13th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $206.00.
View Our Latest Report on BA
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.
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