The Boeing Company (NYSE:BA) Shares Sold by Spinnaker Trust

Spinnaker Trust lowered its position in shares of The Boeing Company (NYSE:BA) by 5.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,528 shares of the aircraft producer’s stock after selling 90 shares during the quarter. Spinnaker Trust’s holdings in Boeing were worth $270,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BA. Sugar Maple Asset Management LLC acquired a new stake in Boeing during the 4th quarter worth about $27,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Boeing in the 3rd quarter valued at about $28,000. Fiduciary Advisors Inc. acquired a new position in shares of Boeing in the 4th quarter valued at about $28,000. Cedar Wealth Management LLC acquired a new position in shares of Boeing in the 3rd quarter valued at about $30,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Boeing in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analyst Ratings Changes

BA has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price objective on Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. Benchmark reissued a “buy” rating and issued a $250.00 price objective on shares of Boeing in a report on Thursday, October 24th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of Boeing in a research note on Wednesday, January 29th. Finally, Susquehanna lifted their price target on Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $195.16.

Boeing Price Performance

Shares of Boeing stock opened at $184.52 on Friday. The stock has a market cap of $138.40 billion, a P/E ratio of -10.07 and a beta of 1.52. The stock’s 50 day simple moving average is $174.96 and its 200-day simple moving average is $164.24. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $208.10.

Boeing (NYSE:BA) last issued its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period last year, the business posted ($0.47) earnings per share. As a group, research analysts expect that The Boeing Company will post -2.3 EPS for the current fiscal 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.