First National Bank of Hutchinson Buys Shares of 1,415 The Boeing Company (NYSE:BA)

First National Bank of Hutchinson purchased a new position in shares of The Boeing Company (NYSE:BA) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,415 shares of the aircraft producer’s stock, valued at approximately $215,000.

Several other large investors have also made changes to their positions in BA. Vanguard Group Inc. grew its position in Boeing by 2.5% in the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after acquiring an additional 1,222,816 shares during the last quarter. Newport Trust Company LLC grew its holdings in shares of Boeing by 1.2% during the 2nd 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 last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of 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 valued at $1,386,757,000 after purchasing an additional 106,513 shares during the last quarter. Jennison Associates LLC increased its position in Boeing by 14.1% during the 1st quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock worth $811,221,000 after purchasing an additional 518,952 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in Boeing by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock valued at $624,749,000 after purchasing an additional 67,474 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Performance

Boeing stock opened at $157.06 on Thursday. The stock’s 50 day moving average price is $160.61 and its two-hundred day moving average price is $172.01. The stock has a market capitalization of $96.42 billion, a price-to-earnings ratio of -44.24 and a beta of 1.57. The Boeing Company has a 52-week low of $146.02 and a 52-week high of $267.54.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to analyst estimates of $17.35 billion. During the same period last year, the firm earned ($0.82) EPS. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. On average, equities research analysts forecast that The Boeing Company will post -5.35 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Jefferies Financial Group lowered their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Wells Fargo & Company lowered their target price on Boeing from $110.00 to $109.00 and set an “underweight” rating for the company in a report on Monday, October 14th. TD Cowen dropped their target price on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reduced their price target on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Finally, Susquehanna dropped their price objective on shares of Boeing from $230.00 to $210.00 and set a “positive” rating for the company in a report on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $198.79.

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.