Arden Trust Co Has $1.61 Million Stock Position in Boeing Co (NYSE:BA)

Arden Trust Co reduced its position in Boeing Co (NYSE:BA) by 10.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 4,225 shares of the aircraft producer’s stock after selling 500 shares during the period. Arden Trust Co’s holdings in Boeing were worth $1,607,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of BA. Thoroughbred Financial Services LLC lifted its stake in Boeing by 36,928.2% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 6,235,551 shares of the aircraft producer’s stock valued at $623,555,000 after purchasing an additional 6,218,711 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Boeing by 1,774.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 4,149,922 shares of the aircraft producer’s stock valued at $1,510,613,000 after purchasing an additional 3,928,546 shares during the last quarter. Viking Global Investors LP acquired a new stake in Boeing in the 2nd quarter valued at about $1,010,899,000. Price T Rowe Associates Inc. MD lifted its stake in Boeing by 7.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 35,740,551 shares of the aircraft producer’s stock valued at $13,009,918,000 after purchasing an additional 2,607,364 shares during the last quarter. Finally, FMR LLC lifted its stake in Boeing by 26.5% in the 1st quarter. FMR LLC now owns 11,041,836 shares of the aircraft producer’s stock valued at $4,211,577,000 after purchasing an additional 2,311,630 shares during the last quarter. Institutional investors and hedge funds own 67.85% of the company’s stock.

Several equities research analysts recently issued reports on the stock. Wolfe Research downgraded shares of Boeing from an “outperform” rating to a “peer perform” rating and cut their target price for the company from $404.00 to $393.00 in a research note on Thursday, July 25th. Robert W. Baird restated an “outperform” rating and set a $445.00 price objective (down from $470.00) on shares of Boeing in a research report on Wednesday, October 2nd. They noted that the move was a valuation call. Jefferies Financial Group cut their price objective on shares of Boeing from $448.00 to $420.00 and set a “buy” rating for the company in a research report on Friday, July 19th. Canaccord Genuity set a $380.00 price objective on shares of Boeing and gave the stock a “hold” rating in a research report on Friday, July 19th. Finally, Bank of America cut their price objective on shares of Boeing from $420.00 to $415.00 and set a “neutral” rating for the company in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the stock. Boeing has an average rating of “Hold” and a consensus price target of $403.10.

Shares of NYSE BA remained flat at $$374.10 during midday trading on Wednesday. 1,539,920 shares of the stock were exchanged, compared to its average volume of 5,392,899. The stock’s fifty day moving average price is $369.09 and its 200 day moving average price is $362.44. The firm has a market cap of $211.41 billion, a P/E ratio of 23.37, a P/E/G ratio of 12.19 and a beta of 1.25. The company has a current ratio of 1.03, a quick ratio of 0.29 and a debt-to-equity ratio of 48.98. Boeing Co has a 52 week low of $292.47 and a 52 week high of $446.01.

Boeing (NYSE:BA) last announced its quarterly earnings data 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. The business had revenue of $15.75 billion for the quarter, compared to analysts’ expectations of $15.05 billion. Boeing had a net margin of 5.42% and a negative return on equity of 632.24%. The firm’s quarterly revenue was down 35.1% compared to the same quarter last year. During the same period last year, the firm posted $3.33 earnings per share. Sell-side analysts anticipate that Boeing Co will post 3.73 earnings per share for the current year.

Boeing Profile

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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