The Boeing Company (NYSE:BA) is Newport Trust Company LLC’s Largest Position

Newport Trust Company LLC lifted its stake in The Boeing Company (NYSE:BA) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,640,184 shares of the aircraft producer’s stock after purchasing an additional 388,633 shares during the quarter. Boeing accounts for approximately 14.5% of Newport Trust Company LLC’s holdings, making the stock its biggest position. Newport Trust Company LLC owned approximately 5.15% of Boeing worth $5,758,830,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC purchased a new position in Boeing in the 4th quarter worth about $26,000. Vima LLC purchased a new position in Boeing in the 4th quarter worth about $34,000. Accent Capital Management LLC purchased a new position in Boeing in the 4th quarter worth about $39,000. Frank Rimerman Advisors LLC purchased a new position in Boeing in the 4th quarter worth about $48,000. Finally, Hobbs Group Advisors LLC purchased a new position in Boeing in the 2nd quarter worth about $34,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

BA stock opened at $154.55 on Friday. The Boeing Company has a 1-year low of $154.02 and a 1-year high of $267.54. The company has a market capitalization of $94.88 billion, a price-to-earnings ratio of -43.54 and a beta of 1.57. The business has a 50 day simple moving average of $171.80 and a two-hundred day simple moving average of $178.07.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The business had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same period last year, the firm earned ($0.82) EPS. Boeing’s revenue for the quarter was down 14.6% compared to the same quarter last year. Sell-side analysts anticipate that The Boeing Company will post -4.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BA has been the subject of a number of recent research reports. Susquehanna restated a “positive” rating and set a $230.00 price target on shares of Boeing in a research note on Wednesday, August 14th. Wells Fargo & Company restated an “underweight” rating and set a $119.00 price target (down from $185.00) on shares of Boeing in a research note on Tuesday, September 3rd. Baird R W upgraded Boeing to a “strong-buy” rating in a research note on Monday, June 3rd. Sanford C. Bernstein cut their price target on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Finally, UBS Group cut their price target on Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, June 7th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.29.

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.