Washington Trust Bank Sells 1,044 Shares of The Boeing Company $BA

Washington Trust Bank trimmed its position in The Boeing Company (NYSE:BA) by 13.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,536 shares of the aircraft producer’s stock after selling 1,044 shares during the quarter. Washington Trust Bank’s holdings in Boeing were worth $1,369,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harbor Asset Planning Inc. bought a new position in Boeing in the second quarter worth $25,000. Piscataqua Savings Bank increased its position in Boeing by 1,712.5% in the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock valued at $30,000 after acquiring an additional 137 shares in the last quarter. IMG Wealth Management Inc. grew its stake in shares of Boeing by 159.4% during the second quarter. IMG Wealth Management Inc. now owns 179 shares of the aircraft producer’s stock valued at $38,000 after purchasing an additional 110 shares during the last quarter. Monetary Management Group Inc. increased its holdings in shares of Boeing by 33.3% in the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock valued at $34,000 after purchasing an additional 50 shares in the last quarter. Finally, Keener Financial Planning LLC bought a new stake in shares of Boeing during the second quarter worth $41,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was 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 of the company’s stock, valued at $8,248,637.62. This represents a 9.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mortimer J. Buckley purchased 2,200 shares of the stock in a transaction on Tuesday, August 19th. The shares were purchased at an average price of $226.10 per share, with a total value of $497,420.00. Following the acquisition, the director owned 2,200 shares in the company, valued at approximately $497,420. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.09% of the company’s stock.

Boeing Stock Performance

BA opened at $197.76 on Thursday. The business’s 50-day simple moving average is $218.25 and its 200 day simple moving average is $213.61. The firm has a market capitalization of $150.32 billion, a PE ratio of -14.46 and a beta of 1.44. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69.

Boeing (NYSE:BA) last released its earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share 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 analyst estimates of $21.61 billion. The company’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($10.44) earnings per share. On average, research analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Barclays upped their price objective on Boeing from $210.00 to $255.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Susquehanna reaffirmed a “positive” rating and issued a $270.00 target price on shares of Boeing in a research note on Monday, September 15th. Sanford C. Bernstein lifted their price target on shares of 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 cut shares of Boeing from a “buy” rating to a “hold” rating and set a $240.00 price objective for the company. in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Boeing from $251.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and an average target price of $241.80.

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.