Penobscot Investment Management Company Inc. Sells 390 Shares of The Boeing Company (NYSE:BA)

Penobscot Investment Management Company Inc. lessened its stake in The Boeing Company (NYSE:BA) by 19.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,640 shares of the aircraft producer’s stock after selling 390 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Boeing were worth $290,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BA. Sierra Ocean LLC purchased a new stake in shares of Boeing during the fourth quarter valued at approximately $26,000. Sugar Maple Asset Management LLC bought a new stake in Boeing during the 4th quarter valued at $27,000. RPg Family Wealth Advisory LLC purchased a new stake in Boeing during the 3rd quarter valued at $28,000. Fiduciary Advisors Inc. bought a new stake in Boeing in the 4th quarter worth $28,000. Finally, HighMark Wealth Management LLC increased its position in shares of Boeing by 121.6% in the fourth quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock valued at $29,000 after acquiring an additional 90 shares during the period. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Uma M. Amuluru sold 3,159 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total value of $570,799.71. Following the transaction, the executive vice president now directly owns 19,213 shares of the company’s stock, valued at approximately $3,471,596.97. This represents a 14.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Boeing Trading Down 2.3 %

Shares of NYSE:BA opened at $178.42 on Thursday. The stock has a fifty day simple moving average of $173.74 and a two-hundred day simple moving average of $164.00. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $196.95. The stock has a market capitalization of $133.83 billion, a price-to-earnings ratio of -9.74 and a beta of 1.53.

Boeing (NYSE:BA) last announced its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period in the prior year, the company posted ($0.47) EPS. As a group, equities research analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Melius raised Boeing from a “hold” rating to a “buy” rating in a research note on Monday. Susquehanna boosted their target price on Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. UBS Group upped their target price on Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. StockNews.com upgraded shares of Boeing to a “sell” rating in a report on Wednesday, March 12th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a report on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $195.68.

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.