Whittier Trust Co. of Nevada Inc. Cuts Stock Holdings in The Boeing Company (NYSE:BA)

Whittier Trust Co. of Nevada Inc. lowered its stake in shares of The Boeing Company (NYSE:BA) by 1.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,326 shares of the aircraft producer’s stock after selling 489 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Boeing were worth $4,459,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Boeing by 2.5% during 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. Van ECK Associates Corp grew its stake in shares of Boeing by 9,626.0% during the second 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 in the last quarter. Wulff Hansen & CO. grew its stake in shares of Boeing by 15,039.0% during the second quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock worth $176,073,000 after purchasing an additional 960,993 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Boeing by 14.1% during the first quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock worth $811,221,000 after purchasing an additional 518,952 shares in the last quarter. Finally, Newport Trust Company LLC grew its stake in shares of Boeing by 1.2% during the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after purchasing an additional 388,633 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on BA. Citigroup lowered their target price on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. The Goldman Sachs Group lowered their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Susquehanna decreased their price objective on shares of Boeing from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Thursday, October 17th. JPMorgan Chase & Co. decreased their price objective on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research note on Monday, October 14th. Finally, TD Cowen decreased their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and an average target price of $198.79.

Boeing Stock Up 3.1 %

NYSE BA opened at $159.82 on Tuesday. The stock has a market capitalization of $98.11 billion, a P/E ratio of -45.02 and a beta of 1.57. The Boeing Company has a 52-week low of $146.02 and a 52-week high of $267.54. The firm has a 50-day moving average price of $161.01 and a 200 day moving average price of $172.28.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The company had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.82) earnings per share. On average, equities research analysts expect that The Boeing Company will post -5.35 earnings per share for the current fiscal year.

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.