Huntington National Bank Increases Position in The Boeing Company (NYSE:BA)

Huntington National Bank lifted its stake in The Boeing Company (NYSE:BA) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,670 shares of the aircraft producer’s stock after acquiring an additional 400 shares during the period. Huntington National Bank’s holdings in Boeing were worth $6,668,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Benjamin Edwards Inc. increased its position in shares of Boeing by 209.3% during the third quarter. Benjamin Edwards Inc. now owns 13,864 shares of the aircraft producer’s stock worth $2,108,000 after purchasing an additional 9,381 shares in the last quarter. Investment Management Corp of Ontario grew its stake in Boeing by 48.8% during the 3rd quarter. Investment Management Corp of Ontario now owns 19,201 shares of the aircraft producer’s stock worth $2,919,000 after buying an additional 6,300 shares during the last quarter. Pingora Partners LLC increased its position in Boeing by 10.6% during the 3rd quarter. Pingora Partners LLC now owns 12,186 shares of the aircraft producer’s stock valued at $1,853,000 after buying an additional 1,165 shares in the last quarter. Royal London Asset Management Ltd. raised its stake in Boeing by 2.9% in the third quarter. Royal London Asset Management Ltd. now owns 236,811 shares of the aircraft producer’s stock valued at $36,005,000 after buying an additional 6,676 shares during the last quarter. Finally, Quarry LP boosted its holdings in Boeing by 12.6% in the third quarter. Quarry LP now owns 688 shares of the aircraft producer’s stock worth $105,000 after acquiring an additional 77 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Stock Performance

BA stock opened at $168.79 on Thursday. The Boeing Company has a one year low of $137.03 and a one year high of $196.95. The firm’s fifty day moving average is $173.70 and its 200 day moving average is $164.39. The firm has a market cap of $126.60 billion, a PE ratio of -9.21 and a beta of 1.53.

Boeing (NYSE:BA) last announced its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter in the previous year, the firm posted ($0.47) earnings per share. Research analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Uma M. Amuluru sold 3,159 shares of Boeing stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following the sale, the executive vice president now owns 19,213 shares in the company, valued at $3,471,596.97. This trade represents a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Barclays raised shares of Boeing from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $190.00 to $210.00 in a research report on Monday, January 6th. StockNews.com raised shares of Boeing to a “sell” rating in a report on Wednesday, March 12th. Susquehanna lifted their price objective on shares of Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Boeing in a research report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $195.68.

About Boeing

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.