Spinnaker Trust Increases Position in The Boeing Company (NYSE:BA)

Spinnaker Trust raised its holdings in The Boeing Company (NYSE:BA) by 17.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,618 shares of the aircraft producer’s stock after acquiring an additional 240 shares during the period. Spinnaker Trust’s holdings in Boeing were worth $246,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Madison Park Capital Advisors LLC grew its holdings in Boeing by 4.9% in the 2nd quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock valued at $219,000 after buying an additional 56 shares during the period. Wealth Alliance Advisory Group LLC grew its holdings in Boeing by 1.6% in the second quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock valued at $691,000 after purchasing an additional 60 shares during the period. Angeles Wealth Management LLC grew its holdings in Boeing by 4.2% in the first quarter. Angeles Wealth Management LLC now owns 1,524 shares of the aircraft producer’s stock valued at $294,000 after purchasing an additional 61 shares during the period. IMS Capital Management increased its position in Boeing by 0.4% during the second quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock worth $2,759,000 after purchasing an additional 62 shares during the last quarter. Finally, Meeder Advisory Services Inc. raised its stake in Boeing by 0.9% during the first quarter. Meeder Advisory Services Inc. now owns 7,559 shares of the aircraft producer’s stock worth $1,459,000 after purchasing an additional 65 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Robert W. Baird lowered their price target on Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. TD Cowen decreased their target price on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. UBS Group cut their price target on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Jefferies Financial Group decreased their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Finally, Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and cut their target price for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $190.37.

Boeing Trading Down 2.5 %

Boeing stock opened at $147.18 on Thursday. The company’s 50-day moving average price is $156.17 and its two-hundred day moving average price is $170.60. The stock has a market cap of $90.99 billion, a price-to-earnings ratio of -11.41 and a beta of 1.57. The Boeing Company has a 52 week low of $144.13 and a 52 week high of $267.54.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. Boeing’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($3.26) earnings per share. Research analysts expect that The Boeing Company will post -16.13 earnings per share for the current fiscal year.

Boeing 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.