Community Bank N.A. Sells 173 Shares of Boeing Co (NYSE:BA)

Community Bank N.A. trimmed its holdings in Boeing Co (NYSE:BA) by 5.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,765 shares of the aircraft producer’s stock after selling 173 shares during the quarter. Community Bank N.A.’s holdings in Boeing were worth $507,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Huntington National Bank grew its holdings in Boeing by 85.7% during the 2nd quarter. Huntington National Bank now owns 111,429 shares of the aircraft producer’s stock worth $20,425,000 after acquiring an additional 51,422 shares during the last quarter. TradeLink Capital LLC acquired a new position in shares of Boeing during the second quarter worth approximately $279,000. State of Michigan Retirement System grew its stake in shares of Boeing by 11.6% during the second quarter. State of Michigan Retirement System now owns 136,871 shares of the aircraft producer’s stock valued at $25,088,000 after purchasing an additional 14,221 shares during the last quarter. Duality Advisers LP bought a new stake in shares of Boeing during the second quarter valued at approximately $11,377,000. Finally, Triton Wealth Management PLLC raised its position in Boeing by 17.4% in the 2nd quarter. Triton Wealth Management PLLC now owns 3,046 shares of the aircraft producer’s stock worth $500,000 after purchasing an additional 452 shares during the last quarter. Institutional investors and hedge funds own 61.66% of the company’s stock.

Shares of Boeing stock traded down $3.95 on Friday, hitting $158.00. The company had a trading volume of 30,286,699 shares, compared to its average volume of 34,075,772. The stock has a 50-day moving average of $180.12 and a 200-day moving average of $204.01. Boeing Co has a twelve month low of $89.00 and a twelve month high of $391.00. The firm has a market capitalization of $89.18 billion, a P/E ratio of -31.29 and a beta of 1.47.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, July 29th. The aircraft producer reported ($4.79) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($2.93) by ($1.86). The company had revenue of $11.81 billion during the quarter, compared to analyst estimates of $12.95 billion. Boeing had a negative return on equity of 3.08% and a negative net margin of 4.27%. Boeing’s revenue for the quarter was down 25.0% on a year-over-year basis. During the same period in the previous year, the company posted ($5.82) earnings per share. As a group, equities analysts predict that Boeing Co will post -6.26 EPS for the current fiscal year.

Several analysts have weighed in on the company. TheStreet cut Boeing from a “c-” rating to a “d” rating in a report on Wednesday, April 29th. Royal Bank of Canada boosted their price target on shares of Boeing from $164.00 to $194.00 and gave the stock an “outperform” rating in a research note on Thursday. Berenberg Bank set a $150.00 price objective on shares of Boeing and gave the company a “sell” rating in a report on Thursday, June 25th. Credit Suisse Group reaffirmed a “neutral” rating and set a $156.00 target price on shares of Boeing in a report on Wednesday. Finally, Norddeutsche Landesbank downgraded Boeing to a “sell” rating and set a $110.00 price target on the stock. in a research note on Tuesday, May 5th. Six research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $217.38.

About Boeing

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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