The Boeing Company (NYSE:BA) Shares Acquired by Eastern Bank

Eastern Bank increased its holdings in shares of The Boeing Company (NYSE:BA) by 13.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,703 shares of the aircraft producer’s stock after acquiring an additional 1,583 shares during the period. Eastern Bank’s holdings in Boeing were worth $2,425,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of Boeing in the third quarter valued at approximately $28,000. Cedar Wealth Management LLC purchased a new stake in Boeing in the 3rd quarter worth $30,000. Kiely Wealth Advisory Group Inc. acquired a new position in Boeing during the second quarter worth $33,000. Planning Capital Management Corp lifted its holdings in Boeing by 741.0% during the third quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock valued at $50,000 after purchasing an additional 289 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new stake in shares of Boeing in the third quarter valued at about $58,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of Boeing in a research report on Wednesday, October 30th. Barclays upgraded Boeing from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $190.00 to $210.00 in a research report on Monday, January 6th. Citigroup dropped their price target on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. DZ Bank cut shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a research note on Tuesday, October 15th. Finally, The Goldman Sachs Group dropped their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $192.21.

Boeing Price Performance

Shares of BA stock opened at $170.56 on Tuesday. The company has a 50-day moving average of $161.70 and a two-hundred day moving average of $165.07. The firm has a market cap of $105.44 billion, a PE ratio of -13.22 and a beta of 1.52. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $217.59.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same period in the previous year, the business earned ($3.26) EPS. The business’s revenue was down 1.5% compared to the same quarter last year. Sell-side analysts anticipate that The Boeing Company will post -16.18 EPS for the current fiscal year.

About Boeing

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.