The Boeing Company (NYSE:BA) Shares Bought by Washington Trust Bank

Washington Trust Bank raised its holdings in The Boeing Company (NYSE:BA) by 2.8% in the third quarter, Holdings Channel reports. The fund owned 65,286 shares of the aircraft producer’s stock after buying an additional 1,765 shares during the period. Washington Trust Bank’s holdings in Boeing were worth $9,926,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Principal Financial Group Inc. raised its holdings in Boeing by 6.1% in the 3rd quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock valued at $101,296,000 after acquiring an additional 38,332 shares during the last quarter. Forte Capital LLC ADV grew its stake in shares of Boeing by 14.9% in the 3rd quarter. Forte Capital LLC ADV now owns 2,694 shares of the aircraft producer’s stock valued at $410,000 after buying an additional 350 shares during the period. Spinnaker Trust grew its stake in shares of Boeing by 17.4% in the 3rd quarter. Spinnaker Trust now owns 1,618 shares of the aircraft producer’s stock valued at $246,000 after buying an additional 240 shares during the period. Canal Insurance CO purchased a new stake in shares of Boeing in the 3rd quarter valued at approximately $1,520,000. Finally, Catalina Capital Group LLC grew its stake in shares of Boeing by 17.1% in the 3rd quarter. Catalina Capital Group LLC now owns 1,446 shares of the aircraft producer’s stock valued at $220,000 after buying an additional 211 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on BA shares. Citigroup dropped their price target on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Boeing in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. The Goldman Sachs Group dropped their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Finally, UBS Group lowered their price objective on shares of Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $190.37.

Boeing Price Performance

Shares of BA traded up $1.79 during midday trading on Thursday, reaching $148.95. The stock had a trading volume of 1,002,554 shares, compared to its average volume of 8,942,344. The Boeing Company has a 1-year low of $144.13 and a 1-year high of $267.54. The company’s fifty day simple moving average is $156.17 and its two-hundred day simple moving average is $170.60. The company has a market cap of $92.08 billion, a price-to-earnings ratio of -11.41 and a beta of 1.57.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same quarter last year, the firm earned ($3.26) EPS. The company’s quarterly revenue was down 1.5% on a year-over-year basis. On average, sell-side analysts forecast that The Boeing Company will post -16.13 earnings per share for the current year.

Boeing 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.