SlateStone Wealth LLC Has $466,000 Position in The Boeing Company (NYSE:BA)

SlateStone Wealth LLC cut its holdings in shares of The Boeing Company (NYSE:BA) by 3.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,563 shares of the aircraft producer’s stock after selling 103 shares during the quarter. SlateStone Wealth LLC’s holdings in Boeing were worth $466,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BA. Capital Research Global Investors increased its holdings in shares of Boeing by 35.5% during the 4th quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after acquiring an additional 4,425,964 shares during the last quarter. Wellington Management Group LLP increased its holdings 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 acquiring an additional 2,921,043 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings 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 acquiring an additional 1,884,850 shares during the last quarter. Boston Partners increased its holdings in shares of Boeing by 861.6% during the 4th quarter. Boston Partners now owns 1,804,853 shares of the aircraft producer’s stock worth $467,338,000 after acquiring an additional 1,617,151 shares during the last quarter. Finally, Global Assets Advisory LLC acquired a new position in shares of Boeing during the 1st quarter worth approximately $272,312,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Price Performance

Shares of BA stock opened at $173.55 on Tuesday. The business’s 50 day simple moving average is $178.38 and its 200 day simple moving average is $182.87. The Boeing Company has a one year low of $159.70 and a one year high of $267.54. The stock has a market capitalization of $106.54 billion, a PE ratio of -48.89 and a beta of 1.56.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion during the quarter, compared to analysts’ expectations of $17.35 billion. The business’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.82) EPS. As a group, research analysts expect that The Boeing Company will post -2.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BA has been the topic of a number of research reports. Baird R W raised Boeing to a “strong-buy” rating in a report on Monday, June 3rd. Stifel Nicolaus increased their target price on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Bank of America boosted their target price on Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, June 13th. Susquehanna reissued a “positive” rating and set a $230.00 target price on shares of Boeing in a research note on Wednesday, August 14th. Finally, Argus downgraded Boeing from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $215.18.

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.