Legacy Private Trust Co. Trims Stock Position in The Boeing Company (NYSE:BA)

Legacy Private Trust Co. trimmed its holdings in The Boeing Company (NYSE:BA) by 55.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,095 shares of the aircraft producer’s stock after selling 17,454 shares during the quarter. Legacy Private Trust Co.’s holdings in Boeing were worth $2,143,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Waterloo Capital L.P. bought a new stake in Boeing during the fourth quarter valued at about $312,000. Sei Investments Co. boosted its stake in shares of Boeing by 28.0% in the fourth quarter. Sei Investments Co. now owns 204,366 shares of the aircraft producer’s stock worth $53,268,000 after acquiring an additional 44,739 shares during the last quarter. XML Financial LLC boosted its stake in Boeing by 2.4% during the fourth quarter. XML Financial LLC now owns 8,416 shares of the aircraft producer’s stock worth $2,194,000 after buying an additional 196 shares during the last quarter. MGO One Seven LLC lifted its stake in shares of Boeing by 7.0% in the 4th quarter. MGO One Seven LLC now owns 11,329 shares of the aircraft producer’s stock valued at $2,953,000 after purchasing an additional 740 shares during the last quarter. Finally, Greystone Financial Group LLC purchased a new stake in shares of Boeing in the 4th quarter valued at $271,000. 64.82% of the stock is currently owned by institutional investors.

Boeing Trading Down 0.2 %

BA traded down $0.25 on Tuesday, hitting $155.66. 201,219 shares of the company’s stock traded hands, compared to its average volume of 7,973,708. The company’s 50 day simple moving average is $165.48 and its 200-day simple moving average is $175.06. The firm has a market cap of $95.56 billion, a price-to-earnings ratio of -43.89 and a beta of 1.57. The Boeing Company has a one year low of $149.49 and a one year high of $267.54.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The business had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same period last year, the company earned ($0.82) EPS. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. As a group, equities analysts anticipate that The Boeing Company will post -4.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BA. Stifel Nicolaus increased their price objective on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Bank of America raised their price objective on Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, June 13th. Jefferies Financial Group decreased their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Susquehanna reiterated a “positive” rating and issued a $230.00 target price on shares of Boeing in a report on Wednesday, August 14th. Finally, Sanford C. Bernstein dropped their target price on Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $206.00.

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.