Perkins Coie Trust Co Decreases Position in The Boeing Company (NYSE:BA)

Perkins Coie Trust Co lowered its holdings in The Boeing Company (NYSE:BA - Free Report) by 8.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,490 shares of the aircraft producer's stock after selling 3,822 shares during the quarter. Boeing accounts for 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 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Van ECK Associates Corp grew its position in shares of Boeing by 122.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer's stock valued at $357,712,000 after acquiring an additional 1,251,456 shares during the period. International Assets Investment Management LLC grew its holdings in Boeing by 289.8% in the third quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer's stock valued at $2,558,790,000 after purchasing an additional 1,251,165 shares during the period. Franklin Resources Inc. increased its position in shares of Boeing by 1,296.3% in the third quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer's stock valued at $169,386,000 after buying an additional 1,055,472 shares in the last quarter. State Street Corp increased its position in shares of Boeing by 2.3% in the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer's stock valued at $4,223,397,000 after buying an additional 636,594 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer's stock worth $1,018,775,000 after buying an additional 602,143 shares during the period. Hedge funds and other institutional investors own 64.82% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on BA. Morgan Stanley cut their price target on shares of Boeing from $195.00 to $170.00 and set an "equal weight" rating for the company in a report on Thursday, October 24th. TD Cowen reduced their price target on shares of Boeing from $200.00 to $190.00 and set a "buy" rating for the company in a research report on Monday, October 14th. The Goldman Sachs Group lowered their price objective on Boeing from $232.00 to $202.00 and set a "buy" rating on the stock in a report on Tuesday, September 24th. Benchmark reissued a "buy" rating and set a $250.00 target price on shares of Boeing in a report on Thursday, October 24th. Finally, Robert W. Baird dropped their price target on Boeing from $240.00 to $200.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $192.21.

Boeing Stock Performance

Shares of Boeing stock traded up $2.21 during trading hours on Friday, hitting $171.14. The company's stock had a trading volume of 9,537,359 shares, compared to its average volume of 9,471,018. The firm has a fifty day moving average of $163.15 and a 200-day moving average of $164.75. The stock has a market cap of $105.80 billion, a price-to-earnings ratio of -13.27 and a beta of 1.52. The Boeing Company has a twelve month low of $137.03 and a twelve month high of $217.59.

Boeing (NYSE:BA - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. Boeing's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($3.26) earnings per share. On average, sell-side analysts expect that The Boeing Company will post -16.43 earnings per share 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.