Boeing Co (NYSE:BA) Shares Sold by Essex Savings Bank

Essex Savings Bank trimmed its position in shares of Boeing Co (NYSE:BA) by 6.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,335 shares of the aircraft producer’s stock after selling 245 shares during the period. Essex Savings Bank’s holdings in Boeing were worth $612,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Cordasco Financial Network purchased a new stake in Boeing during the 1st quarter worth $26,000. MBE Wealth Management LLC purchased a new stake in Boeing during the 1st quarter worth $26,000. Marquette Asset Management LLC boosted its position in Boeing by 316.7% during the 1st quarter. Marquette Asset Management LLC now owns 200 shares of the aircraft producer’s stock worth $30,000 after purchasing an additional 152 shares during the period. Rocky Mountain Advisers LLC boosted its position in Boeing by 100.0% during the 1st quarter. Rocky Mountain Advisers LLC now owns 200 shares of the aircraft producer’s stock worth $30,000 after purchasing an additional 100 shares during the period. Finally, NuWave Investment Management LLC purchased a new stake in Boeing during the 2nd quarter worth $30,000. Institutional investors and hedge funds own 61.66% of the company’s stock.

Shares of Boeing stock traded down $3.95 during midday trading on Friday, reaching $158.00. 30,286,699 shares of the company’s stock traded hands, compared to its average volume of 34,075,772. The company has a market cap of $89.18 billion, a price-to-earnings ratio of -31.29 and a beta of 1.47. The company’s 50 day simple moving average is $180.12 and its 200 day simple moving average is $204.01. Boeing Co has a 52 week low of $89.00 and a 52 week high of $391.00.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, July 29th. The aircraft producer reported ($4.79) EPS for the quarter, missing the consensus estimate of ($2.93) by ($1.86). The firm had revenue of $11.81 billion during the quarter, compared to the consensus estimate of $12.95 billion. Boeing had a negative return on equity of 3.08% and a negative net margin of 4.27%. The business’s revenue was down 25.0% compared to the same quarter last year. During the same quarter last year, the business earned ($5.82) EPS. As a group, research analysts expect that Boeing Co will post -6.26 EPS for the current year.

A number of research firms have weighed in on BA. Goldman Sachs Group reissued a “buy” rating and issued a $225.00 price objective on shares of Boeing in a research report on Thursday. Credit Suisse Group reissued a “neutral” rating and issued a $156.00 price objective on shares of Boeing in a research report on Wednesday. Cowen reissued a “hold” rating on shares of Boeing in a research report on Sunday, June 7th. Barclays reissued a “neutral” rating and issued a $125.00 price objective on shares of Boeing in a research report on Friday, May 1st. Finally, ValuEngine cut shares of Boeing from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 1st. Six research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Boeing presently has a consensus rating of “Hold” and an average price target of $217.38.

About Boeing

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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