WASHINGTON TRUST Co Sells 3,323 Shares of The Boeing Company (NYSE:BA)

WASHINGTON TRUST Co reduced its stake in The Boeing Company (NYSE:BA) by 5.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,620 shares of the aircraft producer’s stock after selling 3,323 shares during the period. WASHINGTON TRUST Co’s holdings in Boeing were worth $9,314,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Sugar Maple Asset Management LLC purchased a new position in shares of Boeing during the 4th quarter valued at $27,000. RPg Family Wealth Advisory LLC bought a new stake in Boeing during the third quarter valued at $28,000. Fiduciary Advisors Inc. purchased a new position in Boeing during the fourth quarter worth about $28,000. Cedar Wealth Management LLC bought a new position in Boeing in the 3rd quarter worth about $30,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Boeing in the 4th quarter valued at about $33,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Trading Down 0.5 %

BA stock opened at $184.52 on Friday. The stock has a market capitalization of $138.40 billion, a price-to-earnings ratio of -10.07 and a beta of 1.52. The firm’s 50-day moving average price is $174.35 and its two-hundred day moving average price is $164.25. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $208.10.

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 quarter in the prior year, the firm posted ($0.47) earnings per share. Equities analysts predict that The Boeing Company will post -2.3 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Boeing in a report on Wednesday, January 29th. Benchmark reissued a “buy” rating and issued a $250.00 price target on shares of Boeing in a report on Thursday, October 24th. Robert W. Baird dropped their price objective on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft increased their target price on Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company lifted their price target on Boeing from $85.00 to $103.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.16.

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.