Penobscot Investment Management Company Inc. Cuts Stock Holdings in The Boeing Company (NYSE:BA)

Penobscot Investment Management Company Inc. lowered its position in The Boeing Company (NYSE:BA) by 19.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,640 shares of the aircraft producer’s stock after selling 390 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Boeing were worth $290,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Sierra Ocean LLC purchased a new stake in Boeing in the 4th quarter valued at about $26,000. Sugar Maple Asset Management LLC bought a new position in shares of Boeing in the fourth quarter valued at approximately $27,000. Fiduciary Advisors Inc. purchased a new stake in shares of Boeing during the fourth quarter valued at approximately $28,000. HighMark Wealth Management LLC boosted its position in Boeing by 121.6% in the fourth quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock worth $29,000 after purchasing an additional 90 shares during the last quarter. Finally, Anfield Capital Management LLC grew its stake in Boeing by 113.1% in the 4th quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer’s stock valued at $32,000 after purchasing an additional 95 shares during the period. 64.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BA. Deutsche Bank Aktiengesellschaft lifted their target price on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Barclays upgraded shares of Boeing from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $190.00 to $210.00 in a research note on Monday, January 6th. Wells Fargo & Company raised their price target on shares of Boeing from $103.00 to $113.00 and gave the stock an “underweight” rating in a research note on Monday, March 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research note on Wednesday, January 29th. Finally, Melius raised Boeing from a “hold” rating to a “buy” rating in a research report on Monday. Two analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Boeing presently has an average rating of “Moderate Buy” and an average target price of $195.68.

Insider Activity

In related news, EVP Uma M. Amuluru sold 3,159 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $180.69, for a total transaction of $570,799.71. Following the transaction, the executive vice president now directly owns 19,213 shares of the company’s stock, valued at approximately $3,471,596.97. This trade represents a 14.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.09% of the company’s stock.

Boeing Stock Down 2.3 %

Boeing stock opened at $178.42 on Thursday. The business has a 50-day simple moving average of $173.74 and a 200 day simple moving average of $164.00. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $196.95. The stock has a market cap of $133.83 billion, a price-to-earnings ratio of -9.74 and a beta of 1.53.

Boeing (NYSE:BA) last posted its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period in the prior year, the company posted ($0.47) EPS. On average, research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

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.