Whittier Trust Co. of Nevada Inc. Cuts Stock Holdings in The Boeing Company $BA

Whittier Trust Co. of Nevada Inc. trimmed its position in shares of The Boeing Company (NYSE:BA) by 2.5% during the second quarter, Holdings Channel.com reports. The fund owned 25,726 shares of the aircraft producer’s stock after selling 668 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Boeing were worth $5,390,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Harbor Asset Planning Inc. purchased a new position in shares of Boeing in the 2nd quarter worth about $25,000. Piscataqua Savings Bank boosted its holdings in shares of Boeing by 1,712.5% in the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock worth $30,000 after buying an additional 137 shares during the last quarter. Monetary Management Group Inc. boosted its holdings in shares of Boeing by 33.3% in the 1st quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock worth $34,000 after buying an additional 50 shares during the last quarter. Keener Financial Planning LLC purchased a new position in shares of Boeing in the 2nd quarter worth about $41,000. Finally, Dogwood Wealth Management LLC boosted its holdings in shares of Boeing by 30.4% in the 2nd quarter. Dogwood Wealth Management LLC now owns 240 shares of the aircraft producer’s stock worth $52,000 after buying an additional 56 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP David Christopher Raymond sold 3,771 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the sale, the executive vice president directly owned 35,873 shares in the company, valued at $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Mortimer J. Buckley purchased 2,200 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were bought at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the transaction, the director owned 2,200 shares of the company’s stock, valued at approximately $497,420. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on BA shares. Jefferies Financial Group set a $255.00 price target on shares of Boeing in a report on Tuesday, September 30th. Rothschild & Co Redburn raised shares of Boeing from a “neutral” rating to a “buy” rating and set a $275.00 price target on the stock in a report on Friday, June 27th. Vertical Research raised shares of Boeing from a “hold” rating to a “buy” rating and boosted their price target for the stock from $242.00 to $270.00 in a report on Monday, September 8th. Morgan Stanley reissued an “equal weight” rating on shares of Boeing in a report on Monday, July 28th. Finally, Sanford C. Bernstein upped their price objective on shares of Boeing from $249.00 to $282.00 and gave the company an “outperform” rating in a report on Thursday, October 2nd. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $240.20.

Boeing Stock Up 0.2%

NYSE BA opened at $217.29 on Wednesday. The company has a market cap of $164.30 billion, a PE ratio of -13.16 and a beta of 1.47. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69. The firm’s 50-day simple moving average is $222.62 and its two-hundred day simple moving average is $208.85.

Boeing (NYSE:BA) last announced its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The firm had revenue of $22.75 billion during the quarter, compared to analysts’ expectations of $20.13 billion. During the same quarter in the previous year, the company posted ($2.90) EPS. The firm’s revenue for the quarter was up 34.9% on a year-over-year basis. As a group, equities research analysts anticipate that The Boeing Company will post -2.58 EPS for the current 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.