FARMERS & MERCHANTS TRUST Co OF LONG BEACH Grows Position in The Boeing Company (NYSE:BA)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its stake in The Boeing Company (NYSE:BA) by 2.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 20,179 shares of the aircraft producer’s stock after buying an additional 468 shares during the period. Boeing makes up about 1.0% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s investment portfolio, making the stock its 22nd biggest position. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Boeing were worth $3,894,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in BA. AQR Capital Management LLC boosted its position in Boeing by 116.4% in the 3rd quarter. AQR Capital Management LLC now owns 266,656 shares of the aircraft producer’s stock valued at $51,113,000 after buying an additional 143,437 shares during the period. Truist Financial Corp lifted its position in shares of Boeing by 16.0% in the 3rd quarter. Truist Financial Corp now owns 392,267 shares of the aircraft producer’s stock worth $75,190,000 after purchasing an additional 54,047 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Boeing by 0.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 23,148 shares of the aircraft producer’s stock worth $4,437,000 after purchasing an additional 114 shares during the period. Axxcess Wealth Management LLC lifted its position in shares of Boeing by 29.8% in the 3rd quarter. Axxcess Wealth Management LLC now owns 16,176 shares of the aircraft producer’s stock worth $3,101,000 after purchasing an additional 3,717 shares during the period. Finally, AXQ Capital LP purchased a new stake in shares of Boeing in the 3rd quarter worth approximately $2,473,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BA has been the subject of several research reports. Melius Research reaffirmed a “hold” rating on shares of Boeing in a research report on Monday, April 1st. Robert W. Baird lowered their price target on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. Barclays lowered their price target on shares of Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a research report on Monday, April 22nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $225.00 price objective on shares of Boeing in a research note on Tuesday, June 25th. Finally, Northcoast Research lowered shares of Boeing from a “neutral” rating to a “sell” rating and set a $140.00 price objective for the company. in a research note on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $220.89.

Boeing Stock Up 0.1 %

Shares of NYSE:BA traded up $0.24 during midday trading on Tuesday, reaching $186.94. The company’s stock had a trading volume of 1,602,974 shares, compared to its average volume of 8,505,768. The firm has a market capitalization of $114.76 billion, a PE ratio of -52.70 and a beta of 1.56. The Boeing Company has a twelve month low of $159.70 and a twelve month high of $267.54. The stock has a fifty day moving average of $178.50 and a 200 day moving average of $198.05.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.43) by $0.30. The business had revenue of $16.57 billion during the quarter, compared to analyst estimates of $17.69 billion. Sell-side analysts anticipate that The Boeing Company will post -1.67 earnings per share for the current fiscal 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.