Sanibel Captiva Trust Company Inc. Trims Stock Holdings in The Boeing Company (NYSE:BA)

Sanibel Captiva Trust Company Inc. lowered its stake in shares of The Boeing Company (NYSE:BA) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,600 shares of the aircraft producer’s stock after selling 78 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Boeing were worth $2,584,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of Boeing by 2.3% during the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after purchasing an additional 636,594 shares during the period. Geode Capital Management LLC lifted its position in Boeing by 2.8% during the third quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock worth $1,774,705,000 after buying an additional 320,415 shares during the period. Jennison Associates LLC boosted its stake in Boeing by 9.9% in the 3rd 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. Fisher Asset Management LLC grew its holdings in Boeing by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock valued at $739,957,000 after buying an additional 277,350 shares during the period. Finally, Legal & General Group Plc grew its holdings in Boeing by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock valued at $624,749,000 after buying an additional 67,474 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

Shares of BA stock opened at $171.14 on Friday. The company’s fifty day moving average price is $163.15 and its two-hundred day moving average price is $164.89. The firm has a market capitalization of $105.80 billion, a P/E ratio of -13.27 and a beta of 1.52. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $217.59.

Boeing (NYSE:BA) last released 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 analyst estimates of $17.81 billion. During the same quarter last year, the business posted ($3.26) EPS. The business’s quarterly revenue was down 1.5% on a year-over-year basis. On average, sell-side analysts anticipate that The Boeing Company will post -16.43 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BA. Citigroup decreased their target price on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Robert W. Baird decreased their price target on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Morgan Stanley dropped their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Susquehanna reduced their target price on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. dropped their price target on Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $192.21.

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.