Huntington National Bank Cuts Stock Holdings in The Boeing Company (NYSE:BA)

Huntington National Bank reduced its stake in The Boeing Company (NYSE:BA) by 16.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,270 shares of the aircraft producer’s stock after selling 7,366 shares during the quarter. Huntington National Bank’s holdings in Boeing were worth $5,667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Dorsey & Whitney Trust CO LLC raised its position in Boeing by 3.4% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 8,220 shares of the aircraft producer’s stock valued at $1,586,000 after purchasing an additional 268 shares in the last quarter. Towercrest Capital Management raised its holdings in shares of Boeing by 5.2% during the 1st quarter. Towercrest Capital Management now owns 1,357 shares of the aircraft producer’s stock valued at $262,000 after buying an additional 67 shares in the last quarter. Nicolet Advisory Services LLC lifted its position in Boeing by 4.6% in the 1st quarter. Nicolet Advisory Services LLC now owns 9,625 shares of the aircraft producer’s stock worth $1,714,000 after buying an additional 419 shares during the last quarter. Intech Investment Management LLC grew its position in Boeing by 8.6% during the first quarter. Intech Investment Management LLC now owns 194,189 shares of the aircraft producer’s stock valued at $37,477,000 after acquiring an additional 15,299 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Boeing by 2.5% during the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after acquiring an additional 1,222,816 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BA has been the subject of a number of research reports. Benchmark reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Boeing in a research note on Thursday, October 24th. Morgan Stanley cut their price target on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft dropped their target price on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Finally, UBS Group decreased their price target on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $190.37.

Boeing Price Performance

Shares of NYSE BA opened at $138.13 on Friday. The stock has a market cap of $85.39 billion, a P/E ratio of -10.71 and a beta of 1.57. The Boeing Company has a 1 year low of $137.22 and a 1 year high of $267.54. The firm has a 50-day moving average of $154.03 and a 200 day moving average of $169.89.

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 analysts’ expectations of $17.81 billion. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($3.26) earnings per share. Research analysts expect that The Boeing Company will post -16.09 earnings per share for the current fiscal 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.