Huntington National Bank Decreases Stake in The Boeing Company (NYSE:BA)

Huntington National Bank cut its holdings in shares of The Boeing Company (NYSE:BA) by 16.5% during the 3rd quarter, HoldingsChannel reports. 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).

Several other large investors also recently bought and sold shares of the business. Kiely Wealth Advisory Group Inc. purchased a new position in shares of Boeing during the second quarter valued at approximately $33,000. Hobbs Group Advisors LLC purchased a new stake in Boeing during the 2nd quarter valued at $34,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after buying an additional 165 shares during the period. 1620 Investment Advisors Inc. purchased a new position in shares of Boeing in the 2nd quarter worth $39,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Boeing in the second quarter worth $41,000. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Down 1.3 %

Shares of NYSE BA opened at $138.13 on Friday. The Boeing Company has a twelve month low of $137.22 and a twelve month high of $267.54. The business has a fifty day simple moving average of $154.03 and a two-hundred day simple moving average of $169.89. The firm has a market cap of $85.39 billion, a PE ratio of -10.71 and a beta of 1.57.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the previous year, the business posted ($3.26) earnings per share. Boeing’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, research analysts expect that The Boeing Company will post -16.09 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on BA. Morgan Stanley lowered their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Jefferies Financial Group dropped their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. The Goldman Sachs Group cut their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Finally, Susquehanna decreased their target price on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, nine have given 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.com, the stock currently has an average rating of “Hold” and a consensus target price of $190.37.

Boeing Company 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.