Rockland Trust Co. Sells 82 Shares of The Boeing Company (NYSE:BA)

Rockland Trust Co. decreased its stake in The Boeing Company (NYSE:BA) by 3.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,160 shares of the aircraft producer’s stock after selling 82 shares during the quarter. Rockland Trust Co.’s holdings in Boeing were worth $382,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. American Century Companies Inc. increased its stake in shares of Boeing by 20.8% during the 2nd quarter. American Century Companies Inc. now owns 44,992 shares of the aircraft producer’s stock worth $8,189,000 after purchasing an additional 7,739 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Boeing by 10.0% during the second quarter. Envestnet Asset Management Inc. now owns 556,361 shares of the aircraft producer’s stock worth $101,263,000 after buying an additional 50,767 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Boeing by 8.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,277,289 shares of the aircraft producer’s stock valued at $232,479,000 after buying an additional 98,973 shares during the period. Pekin Hardy Strauss Inc. lifted its position in shares of Boeing by 13.5% in the second quarter. Pekin Hardy Strauss Inc. now owns 2,820 shares of the aircraft producer’s stock valued at $513,000 after buying an additional 335 shares during the last quarter. Finally, Axxcess Wealth Management LLC boosted its stake in shares of Boeing by 14.2% during the 2nd quarter. Axxcess Wealth Management LLC now owns 15,846 shares of the aircraft producer’s stock worth $2,884,000 after acquiring an additional 1,970 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. UBS Group cut their price target on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of Boeing in a report on Wednesday, October 30th. Susquehanna lowered their price target on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. Benchmark restated a “buy” rating and set a $250.00 price objective on shares of Boeing in a report on Thursday, October 24th. Finally, TD Cowen lowered their target price on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $192.21.

Boeing Price Performance

Shares of BA opened at $166.25 on Thursday. The firm has a 50 day simple moving average of $162.02 and a two-hundred day simple moving average of $164.97. The company has a market cap of $102.78 billion, a P/E ratio of -12.89 and a beta of 1.52. The Boeing Company has a one year low of $137.03 and a one year high of $217.59.

Boeing (NYSE:BA) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $17.81 billion. During the same period in the prior year, the company posted ($3.26) EPS. The firm’s revenue was down 1.5% compared to the same quarter last year. On average, analysts expect that The Boeing Company will post -16.18 earnings per share 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.