Sanibel Captiva Trust Company Inc. Has $3.29 Million Stake in The Boeing Company (NYSE:BA)

Sanibel Captiva Trust Company Inc. lifted its position in The Boeing Company (NYSE:BA) by 32.2% in the first quarter, HoldingsChannel.com reports. The firm owned 19,306 shares of the aircraft producer’s stock after acquiring an additional 4,706 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Boeing were worth $3,293,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Boeing by 24.4% in the fourth quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock valued at $11,406,361,000 after purchasing an additional 12,641,715 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Boeing by 29.5% in the fourth quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock valued at $2,677,170,000 after purchasing an additional 3,452,075 shares in the last quarter. Northern Trust Corp raised its stake in shares of Boeing by 33.6% in the fourth quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer’s stock valued at $1,151,316,000 after purchasing an additional 1,634,231 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Boeing by 3.4% in the fourth quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer’s stock valued at $890,469,000 after purchasing an additional 164,042 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Boeing by 30.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,178,444 shares of the aircraft producer’s stock valued at $739,585,000 after purchasing an additional 981,796 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Boeing

In related news, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $206.28, for a total value of $132,019.20. Following the sale, the senior vice president now owns 13,258 shares of the company’s stock, valued at approximately $2,734,860.24. This trade represents a 4.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Christopher Raymond sold 3,899 shares of Boeing stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $187.01, for a total value of $729,151.99. Following the completion of the sale, the executive vice president now directly owns 42,513 shares in the company, valued at approximately $7,950,356.13. This represents a 8.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,744 shares of company stock valued at $1,511,370. 0.09% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BA. Sanford C. Bernstein upgraded Boeing from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $181.00 to $218.00 in a research note on Monday, April 28th. Citigroup reiterated a “buy” rating on shares of Boeing in a report on Thursday, May 22nd. Melius upgraded Boeing from a “hold” rating to a “buy” rating in a report on Monday, March 24th. Susquehanna reiterated a “positive” rating and issued a $240.00 price target (up previously from $205.00) on shares of Boeing in a report on Wednesday, May 14th. Finally, Jefferies Financial Group raised their price target on Boeing from $230.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Boeing has an average rating of “Moderate Buy” and a consensus target price of $209.35.

Boeing Price Performance

NYSE BA opened at $215.79 on Wednesday. The firm has a market cap of $162.70 billion, a P/E ratio of -11.78 and a beta of 1.43. The stock’s 50-day moving average is $184.87 and its 200-day moving average is $175.81. The Boeing Company has a one year low of $128.88 and a one year high of $218.80.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($1.39) by $0.90. The business had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.57 billion. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.13) EPS. Equities analysts anticipate that The Boeing Company will post -2.58 EPS 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.