Eastern Bank Has $1.84 Million Stock Position in The Boeing Company (NYSE:BA)

Eastern Bank lifted its stake in shares of The Boeing Company (NYSE:BA) by 154.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 12,120 shares of the aircraft producer’s stock after purchasing an additional 7,348 shares during the quarter. Eastern Bank’s holdings in Boeing were worth $1,843,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Boeing by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after buying an additional 1,222,816 shares during the period. Newport Trust Company LLC increased its holdings in Boeing by 1.2% in the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after purchasing an additional 388,633 shares during the period. Massachusetts Financial Services Co. MA raised its position in Boeing by 1.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after purchasing an additional 106,513 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Boeing by 14.1% in the first quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock worth $811,221,000 after acquiring an additional 518,952 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of Boeing by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock worth $624,749,000 after purchasing an additional 67,474 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BA has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut their price target on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. Wells Fargo & Company lowered their price objective on shares of Boeing from $110.00 to $109.00 and set an “underweight” rating for the company in a research note on Monday, October 14th. Morgan Stanley reduced their price target on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a report on Friday, October 18th. Sanford C. Bernstein cut their price objective on shares of Boeing from $207.00 to $195.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, DZ Bank lowered Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research report on Tuesday, October 15th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $198.79.

Boeing Stock Performance

Shares of BA stock opened at $159.85 on Wednesday. The Boeing Company has a 52 week low of $146.02 and a 52 week high of $267.54. The firm’s 50-day simple moving average is $160.84 and its two-hundred day simple moving average is $172.11. The firm has a market cap of $98.13 billion, a price-to-earnings ratio of -45.03 and a beta of 1.57.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The company had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same quarter last year, the firm posted ($0.82) EPS. The company’s revenue was down 14.6% compared to the same quarter last year. Analysts forecast that The Boeing Company will post -5.35 earnings per share for the current 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.