Coastline Trust Co Buys Shares of 415 The Boeing Company (NYSE:BA)

Coastline Trust Co bought a new position in The Boeing Company (NYSE:BA) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 415 shares of the aircraft producer’s stock, valued at approximately $63,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in BA. Kiely Wealth Advisory Group Inc. purchased a new stake in Boeing in the second quarter worth about $33,000. Hobbs Group Advisors LLC purchased a new stake in shares of Boeing in the 2nd quarter worth approximately $34,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Boeing by 351.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after purchasing an additional 165 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in Boeing during the second quarter valued at approximately $39,000. Finally, Strategic Financial Concepts LLC bought a new position in Boeing in the second quarter worth approximately $41,000. Institutional investors own 64.82% of the company’s stock.

Boeing Stock Up 1.5 %

Shares of BA stock opened at $140.19 on Friday. The business has a 50-day simple moving average of $153.20 and a 200-day simple moving average of $169.45. The stock has a market cap of $86.67 billion, a PE ratio of -10.87 and a beta of 1.57. The Boeing Company has a 52-week low of $137.03 and a 52-week high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same quarter last year, the firm earned ($3.26) earnings per share. Boeing’s revenue for the quarter was down 1.5% on a year-over-year basis. Sell-side analysts anticipate that The Boeing Company will post -16.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BA shares. JPMorgan Chase & Co. cut their price target on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Citigroup cut their target price on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Robert W. Baird decreased their price target on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Jefferies Financial Group reduced their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Finally, Wells Fargo & Company lowered their target price on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $190.37.

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.