Riverview Trust Co Trims Stock Holdings in The Boeing Company (NYSE:BA)

Riverview Trust Co reduced its position in The Boeing Company (NYSE:BA) by 32.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 342 shares of the aircraft producer’s stock after selling 162 shares during the quarter. Riverview Trust Co’s holdings in Boeing were worth $52,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BA. Lazari Capital Management Inc. grew its position in shares of Boeing by 55.7% during the 2nd quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock valued at $4,226,000 after purchasing an additional 8,309 shares in the last quarter. Czech National Bank grew its position in Boeing by 8.4% in the third quarter. Czech National Bank now owns 119,243 shares of the aircraft producer’s stock worth $18,130,000 after acquiring an additional 9,281 shares in the last quarter. Park Avenue Securities LLC increased its stake in Boeing by 20.7% in the first quarter. Park Avenue Securities LLC now owns 10,543 shares of the aircraft producer’s stock valued at $2,035,000 after acquiring an additional 1,805 shares during the last quarter. BSN CAPITAL PARTNERS Ltd purchased a new stake in Boeing during the third quarter valued at about $11,237,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Boeing in the 2nd quarter worth about $21,405,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Down 0.2 %

Shares of BA opened at $155.00 on Friday. The Boeing Company has a 52 week low of $146.02 and a 52 week high of $267.54. The business has a 50-day simple moving average of $161.10 and a two-hundred day simple moving average of $172.64. The stock has a market cap of $95.15 billion, a price-to-earnings ratio of -43.66 and a beta of 1.57.

Boeing (NYSE:BA) last posted 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 business had revenue of $16.87 billion during the quarter, compared to the consensus estimate of $17.35 billion. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.82) EPS. On average, equities analysts anticipate that The Boeing Company will post -5.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BA has been the subject of several research reports. Stifel Nicolaus upped their target price on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. DZ Bank lowered Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research note on Tuesday. Wells Fargo & Company decreased their target price on shares of Boeing from $110.00 to $109.00 and set an “underweight” rating on the stock in a research note on Monday, October 14th. Jefferies Financial Group dropped their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Boeing currently has an average rating of “Moderate Buy” and a consensus price target of $198.79.

Boeing Company 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.