Norway Savings Bank Has $1.50 Million Stock Position in The Boeing Company (NYSE:BA)

Norway Savings Bank reduced its holdings in The Boeing Company (NYSE:BA) by 1.9% in the 4th quarter, Holdings Channel reports. The fund owned 8,459 shares of the aircraft producer’s stock after selling 165 shares during the period. Norway Savings Bank’s holdings in Boeing were worth $1,497,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BA. Van ECK Associates Corp grew its position in Boeing by 122.0% during the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock valued at $357,712,000 after purchasing an additional 1,251,456 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Boeing by 289.8% during the 3rd 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 buying an additional 1,251,165 shares during the period. Franklin Resources Inc. increased its stake in shares of Boeing by 1,296.3% in the third quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock worth $169,386,000 after acquiring an additional 1,055,472 shares during the last quarter. Wulff Hansen & CO. raised its holdings in shares of Boeing by 15,039.0% during the second quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock worth $176,073,000 after acquiring an additional 960,993 shares in the last quarter. Finally, State Street Corp grew its stake in Boeing by 2.3% in the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after purchasing an additional 636,594 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on BA. The Goldman Sachs Group lowered their price target on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Morgan Stanley dropped their price target on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. UBS Group reduced their price target on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. decreased their target price on Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $192.21.

Boeing Price Performance

Shares of Boeing stock traded up $1.79 during midday trading on Tuesday, hitting $172.57. 5,601,294 shares of the company were exchanged, compared to its average volume of 9,884,585. The firm has a 50 day simple moving average of $159.83 and a 200-day simple moving average of $165.30. The firm has a market cap of $106.68 billion, a P/E ratio of -13.38 and a beta of 1.52. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $233.85.

Boeing (NYSE:BA) last issued its quarterly earnings data 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 business had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the previous year, the firm posted ($3.26) earnings per share. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities research analysts expect that The Boeing Company will post -16.18 earnings per share for the current year.

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.