Adirondack Trust Co. Sells 1,268 Shares of The Boeing Company (NYSE:BA)

Adirondack Trust Co. reduced its position in The Boeing Company (NYSE:BA) by 67.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 604 shares of the aircraft producer’s stock after selling 1,268 shares during the quarter. Adirondack Trust Co.’s holdings in Boeing were worth $92,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in Boeing by 563.9% during the 4th quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock valued at $896,434,000 after buying an additional 2,921,043 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Boeing by 23.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after acquiring an additional 1,884,850 shares in the last quarter. Global Assets Advisory LLC purchased a new stake in shares of Boeing in the first quarter valued at approximately $272,312,000. Vanguard Group Inc. grew its stake in Boeing by 2.5% in the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after purchasing an additional 1,222,816 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in Boeing by 9,626.0% during the 2nd quarter. Van ECK Associates Corp now owns 1,026,092 shares of the aircraft producer’s stock worth $186,759,000 after purchasing an additional 1,015,542 shares during the period. Institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

BA has been the topic of a number of recent research reports. The Goldman Sachs Group dropped their price target on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. TD Cowen cut their target price on shares of Boeing from $230.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Wells Fargo & Company lowered their price target on shares of Boeing from $119.00 to $110.00 and set an “underweight” rating for the company in a research report on Tuesday, October 1st. Stifel Nicolaus lifted their price objective on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $206.00.

Boeing Price Performance

Shares of BA opened at $149.35 on Thursday. The company’s fifty day moving average price is $164.24 and its 200-day moving average price is $174.59. The Boeing Company has a 1-year low of $148.80 and a 1-year high of $267.54. The firm has a market capitalization of $91.68 billion, a PE ratio of -42.07 and a beta of 1.57.

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 quarter in the previous year, the firm posted ($0.82) EPS. The business’s revenue was down 14.6% on a year-over-year basis. As a group, research analysts anticipate that The Boeing Company will post -4.27 EPS 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.