Sippican Capital Advisors Lowers Holdings in The Boeing Company (NYSE:BA)

Sippican Capital Advisors lowered its holdings in shares of The Boeing Company (NYSE:BA) by 60.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,953 shares of the aircraft producer’s stock after selling 4,604 shares during the quarter. Sippican Capital Advisors’ holdings in Boeing were worth $523,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its holdings in shares of Boeing by 122.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock valued at $357,712,000 after purchasing an additional 1,251,456 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Boeing by 289.8% in the third quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock worth $2,558,790,000 after buying an additional 1,251,165 shares in the last quarter. Franklin Resources Inc. boosted its stake in Boeing by 1,296.3% during the third quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock valued at $169,386,000 after buying an additional 1,055,472 shares during the last quarter. State Street Corp increased its stake in Boeing by 2.3% in the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after acquiring an additional 636,594 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after acquiring an additional 602,143 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

Shares of BA opened at $174.03 on Thursday. The firm has a market capitalization of $107.58 billion, a price-to-earnings ratio of -13.49 and a beta of 1.52. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $214.63. The company has a 50-day moving average of $167.68 and a 200 day moving average of $164.19.

Boeing (NYSE:BA) last posted its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter in the previous year, the company earned ($0.47) EPS. On average, equities analysts anticipate that The Boeing Company will post -16.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BA has been the subject of a number of recent research reports. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and cut their target price for the company from $195.00 to $169.00 in a report on Wednesday, October 30th. Robert W. Baird reduced their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. UBS Group increased their price target on shares of Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday. TD Cowen reduced their price objective on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.00.

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.