Webster Bank N. A. Decreases Stock Position in The Boeing Company (NYSE:BA)

Webster Bank N. A. reduced its stake in The Boeing Company (NYSE:BAGet Rating) by 44.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,022 shares of the aircraft producer’s stock after selling 4,037 shares during the period. Webster Bank N. A.’s holdings in Boeing were worth $961,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in BA. EagleClaw Capital Managment LLC increased its holdings in Boeing by 2.5% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 27,060 shares of the aircraft producer’s stock valued at $5,941,000 after purchasing an additional 648 shares during the period. Psagot Value Holdings Ltd. increased its stake in shares of Boeing by 29.8% during the third quarter. Psagot Value Holdings Ltd. now owns 958 shares of the aircraft producer’s stock valued at $211,000 after buying an additional 220 shares during the period. Captrust Financial Advisors raised its holdings in shares of Boeing by 12.5% during the third quarter. Captrust Financial Advisors now owns 43,375 shares of the aircraft producer’s stock valued at $9,540,000 after acquiring an additional 4,803 shares in the last quarter. Consolidated Planning Corp bought a new position in shares of Boeing during the third quarter valued at approximately $206,000. Finally, National Pension Service lifted its stake in Boeing by 4.2% in the third quarter. National Pension Service now owns 691,206 shares of the aircraft producer’s stock worth $152,024,000 after acquiring an additional 28,175 shares during the period. Hedge funds and other institutional investors own 53.96% of the company’s stock.

Several equities research analysts have recently commented on BA shares. Robert W. Baird dropped their target price on shares of Boeing from $306.00 to $245.00 in a research report on Thursday, April 28th. Benchmark lowered their price objective on shares of Boeing from $270.00 to $250.00 and set a “buy” rating for the company in a report on Friday, April 22nd. Cowen reduced their target price on Boeing from $265.00 to $230.00 and set an “outperform” rating on the stock in a report on Monday, March 7th. JPMorgan Chase & Co. set a $190.00 price target on Boeing in a research report on Tuesday, May 24th. Finally, Bank of America decreased their price objective on Boeing from $180.00 to $150.00 in a report on Tuesday, May 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $225.83.

BA stock opened at $137.16 on Thursday. The stock’s 50 day simple moving average is $142.76 and its 200 day simple moving average is $179.63. The Boeing Company has a 12-month low of $113.02 and a 12-month high of $252.30. The stock has a market capitalization of $81.15 billion, a PE ratio of -16.59 and a beta of 1.48.

Boeing (NYSE:BAGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The aircraft producer reported ($2.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($2.49). The firm had revenue of $13.99 billion during the quarter, compared to analysts’ expectations of $15.90 billion. During the same quarter in the prior year, the firm posted ($1.53) earnings per share. Boeing’s quarterly revenue was down 8.1% on a year-over-year basis. As a group, analysts predict that The Boeing Company will post -0.81 EPS for the current year.

About Boeing (Get Rating)

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

Further Reading

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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