Perkins Coie Trust Co Cuts Stake in The Boeing Company (NYSE:BA)

Perkins Coie Trust Co decreased its position in The Boeing Company (NYSE:BA) by 8.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,490 shares of the aircraft producer’s stock after selling 3,822 shares during the period. Boeing makes up approximately 1.7% of Perkins Coie Trust Co’s holdings, making the stock its 15th biggest position. Perkins Coie Trust Co’s holdings in Boeing were worth $7,521,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Aaron Wealth Advisors LLC raised its stake in shares of Boeing by 35.4% in the fourth quarter. Aaron Wealth Advisors LLC now owns 2,747 shares of the aircraft producer’s stock worth $486,000 after purchasing an additional 718 shares during the last quarter. Wealth Alliance Advisory Group LLC increased its holdings in Boeing by 9.0% in the 4th quarter. Wealth Alliance Advisory Group LLC now owns 4,287 shares of the aircraft producer’s stock worth $759,000 after buying an additional 354 shares in the last quarter. Moss Adams Wealth Advisors LLC raised its position in Boeing by 9.4% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 2,988 shares of the aircraft producer’s stock worth $529,000 after buying an additional 256 shares during the last quarter. Udine Wealth Management Inc. bought a new position in Boeing during the 4th quarter valued at about $2,003,000. Finally, Financial Management Professionals Inc. boosted its holdings in shares of Boeing by 41.5% during the 4th quarter. Financial Management Professionals Inc. now owns 795 shares of the aircraft producer’s stock valued at $141,000 after acquiring an additional 233 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of Boeing in a research note on Wednesday, October 30th. The Goldman Sachs Group lowered their price target on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Jefferies Financial Group cut their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Finally, Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $190.00 to $210.00 in a report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.21.

Boeing Trading Up 1.3 %

Shares of BA stock opened at $171.14 on Friday. The stock has a fifty day simple moving average of $163.15 and a two-hundred day simple moving average of $164.89. The Boeing Company has a 52-week low of $137.03 and a 52-week high of $217.59.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) 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 the consensus estimate of $17.81 billion. During the same quarter in the previous year, the business earned ($3.26) earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, research analysts anticipate that The Boeing Company will post -16.43 earnings per share for the current 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.