WASHINGTON TRUST Co Sells 2,559 Shares of The Boeing Company $BA

WASHINGTON TRUST Co lowered its stake in The Boeing Company (NYSE:BA) by 56.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,002 shares of the aircraft producer’s stock after selling 2,559 shares during the quarter. WASHINGTON TRUST Co’s holdings in Boeing were worth $419,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BA. Wallace Advisory Group LLC raised its holdings in Boeing by 1.2% during the 2nd quarter. Wallace Advisory Group LLC now owns 3,570 shares of the aircraft producer’s stock valued at $748,000 after buying an additional 44 shares during the last quarter. Aspire Capital Advisors LLC raised its stake in shares of Boeing by 0.8% during the second quarter. Aspire Capital Advisors LLC now owns 5,943 shares of the aircraft producer’s stock valued at $1,245,000 after acquiring an additional 45 shares during the last quarter. Lantz Financial LLC boosted its holdings in shares of Boeing by 1.5% during the second quarter. Lantz Financial LLC now owns 3,072 shares of the aircraft producer’s stock worth $644,000 after purchasing an additional 46 shares during the period. Blue Barn Wealth LLC grew its stake in shares of Boeing by 1.8% in the second quarter. Blue Barn Wealth LLC now owns 2,594 shares of the aircraft producer’s stock worth $544,000 after purchasing an additional 46 shares during the last quarter. Finally, Atlas Brown Inc. increased its holdings in Boeing by 0.7% during the 2nd quarter. Atlas Brown Inc. now owns 6,498 shares of the aircraft producer’s stock valued at $1,362,000 after purchasing an additional 48 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Down 0.4%

Shares of BA stock opened at $194.67 on Friday. The company has a 50 day moving average price of $213.55 and a 200-day moving average price of $214.37. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69. The firm has a market capitalization of $147.96 billion, a PE ratio of -14.23 and a beta of 1.44.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($6.96). The company had revenue of $23.27 billion for the quarter, compared to the consensus estimate of $21.61 billion. The company’s revenue was up 30.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($10.44) EPS. Analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BA shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Boeing in a report on Wednesday, October 8th. Loop Capital set a $223.00 price objective on shares of Boeing in a report on Monday, November 3rd. Sanford C. Bernstein lifted their price target on Boeing from $249.00 to $282.00 and gave the stock an “outperform” rating in a research report on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $240.00 price objective for the company. in a report on Thursday, October 30th. Finally, Susquehanna lowered their price objective on Boeing from $270.00 to $255.00 and set a “positive” rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and four have issued a Sell 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 price target of $241.05.

Insider Buying and Selling at Boeing

In other news, Director Mortimer J. Buckley acquired 2,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average price of $226.10 per share, with a total value of $497,420.00. Following the completion of the acquisition, the director directly owned 2,200 shares of the company’s stock, valued at approximately $497,420. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Uma M. Amuluru sold 1,366 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $197.66, for a total value of $270,003.56. Following the completion of the transaction, the executive vice president directly owned 14,656 shares in the company, valued at approximately $2,896,904.96. This represents a 8.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.09% of the company’s stock.

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.