Rockland Trust Co. Has $2.40 Million Stock Holdings in Boeing Co (NYSE:BA)

Rockland Trust Co. increased its position in shares of Boeing Co (NYSE:BA) by 33.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,459 shares of the aircraft producer’s stock after buying an additional 1,609 shares during the quarter. Rockland Trust Co.’s holdings in Boeing were worth $2,403,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BA. Thoroughbred Financial Services LLC grew its position in Boeing by 36,928.2% during the second quarter. Thoroughbred Financial Services LLC now owns 6,235,551 shares of the aircraft producer’s stock worth $623,555,000 after buying an additional 6,218,711 shares in the last quarter. Nuveen Asset Management LLC grew its position in Boeing by 1,774.6% during the second quarter. Nuveen Asset Management LLC now owns 4,149,922 shares of the aircraft producer’s stock worth $1,510,613,000 after buying an additional 3,928,546 shares in the last quarter. Viking Global Investors LP acquired a new stake in Boeing during the second quarter worth about $1,010,899,000. Price T Rowe Associates Inc. MD grew its position in Boeing by 7.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 35,740,551 shares of the aircraft producer’s stock worth $13,009,918,000 after buying an additional 2,607,364 shares in the last quarter. Finally, FMR LLC grew its position in Boeing by 26.5% during the first quarter. FMR LLC now owns 11,041,836 shares of the aircraft producer’s stock worth $4,211,577,000 after buying an additional 2,311,630 shares in the last quarter. 67.85% of the stock is currently owned by institutional investors and hedge funds.

NYSE BA traded up $0.93 during trading on Friday, reaching $371.93. 108,653 shares of the company traded hands, compared to its average volume of 3,719,077. Boeing Co has a 1-year low of $292.47 and a 1-year high of $446.01. The stock’s 50 day moving average price is $370.70 and its two-hundred day moving average price is $362.49. The company has a debt-to-equity ratio of 48.98, a quick ratio of 0.29 and a current ratio of 1.03. The company has a market cap of $210.51 billion, a price-to-earnings ratio of 23.23, a P/E/G ratio of 12.21 and a beta of 1.25.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $1.07. Boeing had a net margin of 5.42% and a negative return on equity of 632.24%. The company had revenue of $15.75 billion during the quarter, compared to analysts’ expectations of $15.05 billion. During the same quarter in the previous year, the company posted $3.33 earnings per share. Boeing’s quarterly revenue was down 35.1% compared to the same quarter last year. Equities research analysts expect that Boeing Co will post 3.71 EPS for the current fiscal year.

A number of equities research analysts recently weighed in on BA shares. Cowen reissued a “buy” rating and set a $460.00 target price on shares of Boeing in a research report on Friday. Robert W. Baird reaffirmed an “outperform” rating and set a $445.00 price objective (down from $470.00) on shares of Boeing in a report on Wednesday, October 2nd. They noted that the move was a valuation call. JPMorgan Chase & Co. decreased their price objective on Boeing from $430.00 to $425.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Wolfe Research downgraded Boeing from an “outperform” rating to a “peer perform” rating and decreased their price objective for the company from $404.00 to $393.00 in a report on Thursday, July 25th. Finally, Citigroup set a $430.00 price objective on Boeing and gave the company a “buy” rating in a report on Monday, July 15th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Boeing has an average rating of “Hold” and a consensus price target of $403.10.

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.

Further Reading: Technical Analysis

Institutional Ownership by Quarter for Boeing (NYSE:BA)

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