Bar Harbor Wealth Management Takes Position in The Boeing Company (NYSE:BA)

Bar Harbor Wealth Management acquired a new stake in The Boeing Company (NYSE:BA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,115 shares of the aircraft producer’s stock, valued at approximately $203,000.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in Boeing by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after acquiring an additional 1,222,816 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Boeing by 35.5% during the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after purchasing an additional 4,425,964 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Boeing by 23.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after buying an additional 1,884,850 shares during the last quarter. Northern Trust Corp raised its position in Boeing by 1.1% during the 4th quarter. Northern Trust Corp now owns 5,003,262 shares of the aircraft producer’s stock worth $1,304,150,000 after buying an additional 52,081 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Boeing by 14.1% during the first quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock worth $811,221,000 after acquiring an additional 518,952 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BA. Argus downgraded shares of Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Robert W. Baird cut their target price on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. Sanford C. Bernstein lowered their price objective on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Barclays decreased their price objective on shares of Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a report on Monday, April 22nd. Finally, Citigroup lowered their price objective on Boeing from $252.00 to $224.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.18.

Boeing Stock Up 1.8 %

Boeing stock traded up $3.22 during trading hours on Friday, hitting $179.63. The stock had a trading volume of 3,492,618 shares, compared to its average volume of 8,041,446. The company has a market cap of $110.27 billion, a PE ratio of -50.59 and a beta of 1.56. The Boeing Company has a fifty-two week low of $159.70 and a fifty-two week high of $267.54. The company has a 50-day moving average of $179.55 and a two-hundred day moving average of $184.81.

Boeing (NYSE:BA) last released its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The firm had revenue of $16.87 billion during the quarter, compared to the consensus estimate of $17.35 billion. During the same period in the prior year, the firm posted ($0.82) EPS. The firm’s revenue was down 14.6% compared to the same quarter last year. As a group, analysts forecast that The Boeing Company will post -2.38 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.