The Boeing Company (NYSE:BA) Position Trimmed by American National Bank & Trust

American National Bank & Trust trimmed its stake in The Boeing Company (NYSE:BA) by 24.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,345 shares of the aircraft producer’s stock after selling 2,418 shares during the quarter. American National Bank & Trust’s holdings in Boeing were worth $1,117,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of Boeing by 563.9% during the fourth 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 in the last quarter. Price T Rowe Associates Inc. MD raised its stake 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 purchasing an additional 1,884,850 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Boeing during the 1st quarter valued at about $272,312,000. Vanguard Group Inc. increased its holdings in Boeing by 2.5% in the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after buying an additional 1,222,816 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in Boeing by 9,626.0% during the second quarter. Van ECK Associates Corp now owns 1,026,092 shares of the aircraft producer’s stock valued at $186,759,000 after acquiring an additional 1,015,542 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on BA. UBS Group decreased their target price on shares of Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, June 7th. Wells Fargo & Company lowered their target price on shares of Boeing from $119.00 to $110.00 and set an “underweight” rating on the stock in a research report on Tuesday. Jefferies Financial Group reduced their price target 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 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. Finally, Susquehanna restated a “positive” rating and issued a $230.00 target price on shares of Boeing in a report on Wednesday, August 14th. Three research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $207.67.

Boeing Stock Performance

NYSE BA opened at $152.89 on Thursday. The Boeing Company has a twelve month low of $149.49 and a twelve month high of $267.54. The stock has a market cap of $93.86 billion, a PE ratio of -43.07 and a beta of 1.57. The firm has a 50-day simple moving average of $166.80 and a 200 day simple moving average of $175.54.

Boeing (NYSE:BA) last announced its quarterly earnings data 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 firm had revenue of $16.87 billion during the quarter, compared to the consensus estimate of $17.35 billion. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.82) earnings per share. Research analysts forecast that The Boeing Company will post -4.27 earnings per share for the current fiscal year.

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.