Cape Cod Five Cents Savings Bank Reduces Stock Position in The Boeing Company (NYSE:BA)

Cape Cod Five Cents Savings Bank lessened its position in shares of The Boeing Company (NYSE:BA) by 3.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,824 shares of the aircraft producer’s stock after selling 107 shares during the quarter. Cape Cod Five Cents Savings Bank’s holdings in Boeing were worth $429,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in BA. Rockefeller Capital Management L.P. boosted its stake in shares of Boeing by 8.8% in the third quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock worth $72,075,000 after buying an additional 38,300 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after buying an additional 602,143 shares during the last quarter. ING Groep NV purchased a new stake in shares of Boeing in the third quarter worth about $11,679,000. Lazari Capital Management Inc. boosted its stake in shares of Boeing by 55.7% in the second quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock worth $4,226,000 after buying an additional 8,309 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Boeing in the third quarter worth about $636,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on BA shares. Citigroup lowered their target price on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Wells Fargo & Company lowered their price target on Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered their price target on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $195.00 to $169.00 in a research report on Wednesday, October 30th. Finally, TD Cowen lowered their price target on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $190.11.

Boeing Stock Performance

NYSE:BA opened at $157.19 on Tuesday. The Boeing Company has a one year low of $137.03 and a one year high of $267.54. The stock has a market cap of $97.17 billion, a PE ratio of -12.19 and a beta of 1.56. The stock has a 50 day moving average price of $151.69 and a 200 day moving average price of $166.22.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same period in the previous year, the company posted ($3.26) earnings per share. The business’s revenue was down 1.5% on a year-over-year basis. As a group, analysts predict that The Boeing Company will post -16.18 earnings per share for the current fiscal year.

Boeing 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.