Grove Bank & Trust Raises Holdings in The Boeing Company (NYSE:BA)

Grove Bank & Trust increased its position in The Boeing Company (NYSE:BA) by 37.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 666 shares of the aircraft producer’s stock after buying an additional 182 shares during the quarter. Grove Bank & Trust’s holdings in Boeing were worth $118,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in BA. RPg Family Wealth Advisory LLC purchased a new position in shares of Boeing in the 3rd quarter worth $28,000. Cedar Wealth Management LLC acquired a new stake in Boeing in the 3rd quarter valued at $30,000. Planning Capital Management Corp increased its holdings in Boeing by 741.0% in the 3rd 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. Truvestments Capital LLC acquired a new stake in Boeing in the 3rd quarter valued at $58,000. Finally, Fairscale Capital LLC acquired a new stake in Boeing in the 2nd quarter valued at $59,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Trading Up 1.3 %

BA opened at $171.14 on Tuesday. The business’s 50 day moving average is $163.15 and its 200-day moving average is $164.61. The stock has a market cap of $105.80 billion, a PE ratio of -13.27 and a beta of 1.52. The Boeing Company has a twelve month low of $137.03 and a twelve month high of $217.59.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the previous year, the business posted ($3.26) earnings per share. The company’s revenue was down 1.5% on a year-over-year basis. As a group, analysts forecast that The Boeing Company will post -16.43 EPS for the current year.

Analyst Upgrades and Downgrades

BA has been the subject of several recent research reports. Jefferies Financial Group lowered their price target on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Wells Fargo & Company lowered their target price on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. UBS Group lowered their target price on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group lowered their target price on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, eight have issued 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, Boeing currently has an average rating of “Moderate Buy” and an average target price of $192.21.

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.