Sanibel Captiva Trust Company Inc. Has $2.23 Million Stock Position in The Boeing Company (NYSE:BA)

Sanibel Captiva Trust Company Inc. reduced its stake in shares of The Boeing Company (NYSE:BA) by 20.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,678 shares of the aircraft producer’s stock after selling 3,788 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Boeing were worth $2,232,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BA. Kiely Wealth Advisory Group Inc. acquired a new stake in Boeing in the second quarter valued at about $33,000. Vima LLC acquired a new stake in Boeing in the fourth quarter valued at about $34,000. Hobbs Group Advisors LLC acquired a new stake in Boeing in the second quarter valued at about $34,000. McClarren Financial Advisors Inc. boosted its stake in Boeing by 451.4% in the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after buying an additional 158 shares in the last quarter. Finally, Accent Capital Management LLC acquired a new stake in Boeing in the fourth quarter valued at about $39,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wells Fargo & Company reduced their price objective on Boeing from $119.00 to $110.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 1st. Susquehanna reiterated a “positive” rating and issued a $230.00 target price on shares of Boeing in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft dropped their target price on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Jefferies Financial Group dropped their target price on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. Finally, Sanford C. Bernstein dropped their target price on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Boeing currently has an average rating of “Moderate Buy” and an average price target of $206.00.

Boeing Stock Performance

Shares of BA stock opened at $146.67 on Friday. The company has a market cap of $90.04 billion, a P/E ratio of -41.32 and a beta of 1.57. The stock has a 50 day simple moving average of $163.42 and a two-hundred day simple moving average of $174.42. The Boeing Company has a fifty-two week low of $146.26 and a fifty-two week high of $267.54.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.82) EPS. On average, research analysts predict that The Boeing Company will post -4.27 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.