The Boeing Company (NYSE:BA) Shares Bought by Patron Partners LLC

Patron Partners LLC increased its stake in The Boeing Company (NYSE:BA) by 7.4% during the third quarter, HoldingsChannel.com reports. The fund owned 2,734 shares of the aircraft producer’s stock after buying an additional 188 shares during the period. Patron Partners LLC’s holdings in Boeing were worth $416,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. First National Trust Co boosted its position in shares of Boeing by 5.5% in the 3rd quarter. First National Trust Co now owns 3,316 shares of the aircraft producer’s stock valued at $504,000 after purchasing an additional 172 shares during the period. Peregrine Asset Advisers Inc. lifted its stake in Boeing by 26.4% during the third quarter. Peregrine Asset Advisers Inc. now owns 1,435 shares of the aircraft producer’s stock valued at $218,000 after buying an additional 300 shares in the last quarter. Patten & Patten Inc. TN boosted its holdings in shares of Boeing by 19.8% in the third quarter. Patten & Patten Inc. TN now owns 24,603 shares of the aircraft producer’s stock worth $3,741,000 after buying an additional 4,065 shares during the period. Kennebec Savings Bank purchased a new position in shares of Boeing in the third quarter worth approximately $379,000. Finally, Ashton Thomas Securities LLC raised its holdings in shares of Boeing by 11.2% during the third quarter. Ashton Thomas Securities LLC now owns 8,851 shares of the aircraft producer’s stock valued at $1,346,000 after acquiring an additional 889 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Stock Performance

Boeing stock opened at $148.96 on Tuesday. The Boeing Company has a 52 week low of $144.13 and a 52 week high of $267.54. The firm has a market capitalization of $92.09 billion, a PE ratio of -11.55 and a beta of 1.57. The business’s 50-day simple moving average is $154.81 and its 200-day simple moving average is $170.26.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. The firm’s revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the business posted ($3.26) EPS. Research analysts forecast that The Boeing Company will post -16.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Jefferies Financial Group cut their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Stifel Nicolaus increased their price objective on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a research note on Tuesday, October 15th. The Goldman Sachs Group reduced their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $190.37.

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.