Equitable Trust Co. Raises Stock Position in The Boeing Company (NYSE:BA)

by · The Markets Daily

Equitable Trust Co. lifted its stake in The Boeing Company (NYSE:BA – Free Report) by 810.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,133 shares of the aircraft producer’s stock after purchasing an additional 22,373 shares during the period. Equitable Trust Co.’s holdings in Boeing were worth $3,821,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BA. Van ECK Associates Corp grew its stake in shares of Boeing by 122.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after buying an additional 1,251,456 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Boeing by 289.8% during the third quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock valued at $2,558,790,000 after acquiring an additional 1,251,165 shares in the last quarter. Vanguard Group Inc. boosted its stake in Boeing by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after purchasing an additional 1,222,816 shares in the last quarter. Wulff Hansen & CO. grew its position in Boeing by 15,039.0% during the 2nd quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock valued at $176,073,000 after purchasing an additional 960,993 shares during the last quarter. Finally, Newport Trust Company LLC grew its holdings in shares of Boeing by 1.2% during the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after buying an additional 388,633 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Up 0.5 %

NYSE BA opened at $151.77 on Friday. The Boeing Company has a 52 week low of $144.13 and a 52 week high of $267.54. The firm has a market capitalization of $93.82 billion, a price-to-earnings ratio of -11.77 and a beta of 1.57. The company has a fifty day moving average of $155.31 and a two-hundred day moving average of $170.34.

Boeing (NYSE:BA – Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. The business’s revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($3.26) earnings per share. Equities research analysts anticipate that The Boeing Company will post -16.09 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on BA shares. Wells Fargo & Company reduced their target price on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. Robert W. Baird reduced their price target on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. UBS Group lowered their price objective on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, TD Cowen decreased their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $190.37.

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About Boeing

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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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