Penobscot Investment Management Company Inc. Sells 66 Shares of The Boeing Company (NYSE:BA)

Penobscot Investment Management Company Inc. lessened its position in The Boeing Company (NYSE:BA) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,603 shares of the aircraft producer’s stock after selling 66 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Boeing were worth $678,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in BA. Jennison Associates LLC purchased a new stake in shares of Boeing in the fourth quarter worth approximately $960,397,000. Lazard Asset Management LLC lifted its position in shares of Boeing by 8,961.2% during the third quarter. Lazard Asset Management LLC now owns 1,161,461 shares of the aircraft producer’s stock worth $222,628,000 after purchasing an additional 1,148,643 shares during the last quarter. Barclays PLC grew its holdings in shares of Boeing by 54.5% in the third quarter. Barclays PLC now owns 2,351,731 shares of the aircraft producer’s stock worth $450,783,000 after purchasing an additional 829,321 shares during the last quarter. Invesco Ltd. lifted its holdings in Boeing by 30.1% during the 3rd quarter. Invesco Ltd. now owns 3,279,421 shares of the aircraft producer’s stock valued at $628,599,000 after buying an additional 759,267 shares in the last quarter. Finally, Cerity Partners LLC boosted its position in Boeing by 726.7% in the 4th quarter. Cerity Partners LLC now owns 624,906 shares of the aircraft producer’s stock valued at $162,888,000 after buying an additional 549,318 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BA has been the subject of several research analyst reports. Edward Jones downgraded shares of Boeing from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. TD Cowen decreased their target price on Boeing from $275.00 to $230.00 and set an “outperform” rating for the company in a research report on Monday, March 25th. Stifel Nicolaus dropped their price target on Boeing from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. Argus downgraded Boeing from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Barclays dropped their target price on shares of Boeing from $235.00 to $190.00 and set an “equal weight” rating on the stock in a report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $222.41.

Boeing Stock Performance

Shares of BA stock opened at $167.84 on Wednesday. The Boeing Company has a fifty-two week low of $159.70 and a fifty-two week high of $267.54. The stock’s 50-day simple moving average is $185.21 and its 200-day simple moving average is $206.38.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.25. The company had revenue of $22.02 billion during the quarter, compared to analysts’ expectations of $21.14 billion. During the same period in the prior year, the business posted ($1.75) EPS. The company’s quarterly revenue was up 10.2% on a year-over-year basis. Equities analysts anticipate that The Boeing Company will post -0.29 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.