Eastern Bank Decreases Holdings in The Boeing Company $BA

Eastern Bank trimmed its stake in The Boeing Company (NYSE:BA) by 8.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 12,592 shares of the aircraft producer’s stock after selling 1,134 shares during the period. Eastern Bank’s holdings in Boeing were worth $2,638,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Aspire Capital Advisors LLC lifted its stake in shares of Boeing by 0.8% in the 2nd quarter. Aspire Capital Advisors LLC now owns 5,943 shares of the aircraft producer’s stock valued at $1,245,000 after purchasing an additional 45 shares during the last quarter. Lantz Financial LLC lifted its stake in shares of Boeing by 1.5% in the 2nd quarter. Lantz Financial LLC now owns 3,072 shares of the aircraft producer’s stock valued at $644,000 after purchasing an additional 46 shares during the last quarter. Atlas Brown Inc. lifted its stake in shares of Boeing by 0.7% in 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 last quarter. Moody National Bank Trust Division lifted its stake in shares of Boeing by 2.7% in the 2nd quarter. Moody National Bank Trust Division now owns 1,836 shares of the aircraft producer’s stock valued at $385,000 after purchasing an additional 48 shares during the last quarter. Finally, Heck Capital Advisors LLC lifted its stake in shares of Boeing by 3.6% during the 2nd quarter. Heck Capital Advisors LLC now owns 1,398 shares of the aircraft producer’s stock worth $293,000 after acquiring an additional 49 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Mortimer J. Buckley purchased 2,200 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the acquisition, the director owned 2,200 shares of the company’s stock, valued at $497,420. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction on Friday, August 8th. The shares were sold at an average price of $229.94, for a total value of $867,103.74. Following the completion of the transaction, the executive vice president owned 35,873 shares in the company, valued at $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on BA shares. KGI Securities raised Boeing from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. raised their price target on Boeing from $230.00 to $251.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Susquehanna reissued a “positive” rating and set a $270.00 price target on shares of Boeing in a research note on Monday, September 15th. Citigroup reissued a “buy” rating on shares of Boeing in a research note on Monday, July 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Boeing in a research note on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $233.91.

Boeing Price Performance

Shares of Boeing stock opened at $211.04 on Friday. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The firm’s 50-day moving average is $224.29 and its two-hundred day moving average is $206.38. The stock has a market cap of $159.58 billion, a price-to-earnings ratio of -12.78 and a beta of 1.47.

Boeing (NYSE:BA) last issued its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The business had revenue of $22.75 billion for the quarter, compared to the consensus estimate of $20.13 billion. During the same quarter last year, the firm posted ($2.90) EPS. Boeing’s quarterly revenue was up 34.9% compared to the same quarter last year. On average, equities analysts expect that The Boeing Company will post -2.58 earnings per share for the current 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.