Washington Trust Advisors Inc. Reduces Position in The Boeing Company (NYSE:BA)

Washington Trust Advisors Inc. trimmed its position in The Boeing Company (NYSE:BA) by 9.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,036 shares of the aircraft producer’s stock after selling 224 shares during the quarter. Washington Trust Advisors Inc.’s holdings in Boeing were worth $531,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BA. Bollard Group LLC boosted its position in shares of Boeing by 10.6% during the 2nd quarter. Bollard Group LLC now owns 469 shares of the aircraft producer’s stock valued at $99,000 after acquiring an additional 45 shares during the last quarter. Trust Co. of Vermont grew its stake in shares of Boeing by 1.0% in the 3rd quarter. Trust Co. of Vermont now owns 4,389 shares of the aircraft producer’s stock worth $841,000 after buying an additional 45 shares in the last quarter. Waverly Advisors LLC increased its holdings in shares of Boeing by 0.6% in the 4th quarter. Waverly Advisors LLC now owns 8,015 shares of the aircraft producer’s stock worth $1,527,000 after buying an additional 49 shares during the last quarter. WealthPlan Investment Management LLC lifted its holdings in shares of Boeing by 1.0% in the 4th quarter. WealthPlan Investment Management LLC now owns 4,716 shares of the aircraft producer’s stock valued at $1,229,000 after acquiring an additional 49 shares during the last quarter. Finally, Graves Light Lenhart Wealth Inc. increased its stake in Boeing by 3.4% during the second quarter. Graves Light Lenhart Wealth Inc. now owns 1,540 shares of the aircraft producer’s stock worth $325,000 after acquiring an additional 50 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BA shares. UBS Group dropped their target price on Boeing from $275.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, March 21st. Royal Bank of Canada reduced their target price on shares of Boeing from $285.00 to $260.00 and set an “outperform” rating on the stock in a research note on Thursday, February 1st. Stifel Nicolaus reiterated a “buy” rating and set a $270.00 price target on shares of Boeing in a report on Monday. Barclays boosted their price objective on shares of Boeing from $210.00 to $235.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 6th. Finally, Edward Jones lowered Boeing from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $241.53.

Boeing Price Performance

Shares of NYSE BA traded up $0.78 during midday trading on Thursday, hitting $192.73. The company’s stock had a trading volume of 2,482,069 shares, compared to its average volume of 10,384,479. The Boeing Company has a 1 year low of $176.25 and a 1 year high of $267.54. The business’s fifty day simple moving average is $200.81 and its two-hundred day simple moving average is $209.96. The firm has a market capitalization of $117.59 billion, a price-to-earnings ratio of -52.18, a price-to-earnings-growth ratio of 30.31 and a beta of 1.52.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The company had revenue of $22.02 billion during the quarter, compared to analyst estimates of $21.14 billion. During the same period in the prior year, the business earned ($1.75) EPS. Boeing’s revenue for the quarter was up 10.2% on a year-over-year basis. Analysts anticipate that The Boeing Company will post 1.55 EPS 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.