FARMERS & MERCHANTS TRUST Co OF LONG BEACH Has $2.90 Million Position in The Boeing Company (NYSE:BA)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH decreased its stake in shares of The Boeing Company (NYSE:BA) by 5.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 19,079 shares of the aircraft producer’s stock after selling 1,003 shares during the period. Boeing accounts for about 0.7% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings, making the stock its 29th largest position. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Boeing were worth $2,901,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Vima LLC bought a new stake in Boeing during the 4th quarter worth about $34,000. Accent Capital Management LLC bought a new position in shares of Boeing during the 4th quarter valued at about $39,000. Hobbs Group Advisors LLC acquired a new position in shares of Boeing in the 2nd quarter valued at approximately $34,000. McClarren Financial Advisors Inc. increased its stake in Boeing by 451.4% during the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after purchasing an additional 158 shares in the last quarter. Finally, Kiely Wealth Advisory Group Inc. acquired a new stake in Boeing during the 2nd quarter worth approximately $33,000. Institutional investors own 64.82% of the company’s stock.

Boeing Trading Up 3.0 %

Shares of Boeing stock opened at $151.05 on Friday. The firm’s 50 day moving average is $162.41 and its 200 day moving average is $173.94. The firm has a market capitalization of $93.07 billion, a PE ratio of -26.83 and a beta of 1.57. The Boeing Company has a 1 year low of $146.26 and a 1 year high of $267.54.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. Boeing’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.82) EPS. As a group, research analysts anticipate that The Boeing Company will post -5.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Susquehanna restated a “positive” rating and issued a $230.00 price target on shares of Boeing in a research note on Wednesday, August 14th. The Goldman Sachs Group dropped their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Wells Fargo & Company decreased their price objective on shares of Boeing from $119.00 to $110.00 and set an “underweight” rating for the company in a research report on Tuesday, October 1st. Stifel Nicolaus upped their target price on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, TD Cowen dropped their price objective on Boeing from $230.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $206.00.

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.