Sandy Spring Bank Has $2.82 Million Stock Position in The Boeing Company (NYSE:BA)

Share on StockTwits

Sandy Spring Bank lifted its stake in shares of The Boeing Company (NYSE:BA) by 3.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,075 shares of the aircraft producer’s stock after purchasing an additional 510 shares during the quarter. Sandy Spring Bank’s holdings in The Boeing were worth $2,822,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BA. Newport Trust Co boosted its position in shares of The Boeing by 2.4% during the third quarter. Newport Trust Co now owns 35,141,250 shares of the aircraft producer’s stock valued at $5,807,443,000 after buying an additional 838,659 shares during the period. Laidlaw Wealth Management LLC increased its position in shares of The Boeing by 84,338.8% in the second quarter. Laidlaw Wealth Management LLC now owns 6,738,216 shares of the aircraft producer’s stock worth $36,000 after acquiring an additional 6,730,236 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of The Boeing by 7.0% in the second quarter. Nuveen Asset Management LLC now owns 3,493,913 shares of the aircraft producer’s stock worth $640,435,000 after acquiring an additional 229,000 shares in the last quarter. Coatue Management LLC acquired a new stake in shares of The Boeing in the second quarter worth $504,079,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of The Boeing by 3.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,513,496 shares of the aircraft producer’s stock worth $460,724,000 after acquiring an additional 79,527 shares in the last quarter. 52.57% of the stock is currently owned by institutional investors.

BA has been the subject of several recent research reports. Morgan Stanley dropped their price objective on shares of The Boeing from $181.00 to $165.00 and set an “underweight” rating for the company in a research report on Thursday, October 29th. Benchmark decreased their target price on shares of The Boeing from $230.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, November 5th. Edward Jones upgraded shares of The Boeing from a “hold” rating to a “buy” rating in a research note on Thursday, September 3rd. ValuEngine upgraded shares of The Boeing from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 2nd. Finally, Zacks Investment Research upgraded shares of The Boeing from a “sell” rating to a “hold” rating and set a $157.00 target price for the company in a research note on Thursday, October 29th. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The Boeing has an average rating of “Hold” and an average target price of $203.64.

Shares of BA stock traded down $3.68 during trading hours on Tuesday, reaching $198.72. The stock had a trading volume of 181,271 shares, compared to its average volume of 29,365,477. The Boeing Company has a twelve month low of $89.00 and a twelve month high of $375.60. The firm has a 50-day simple moving average of $164.70 and a 200-day simple moving average of $165.48. The firm has a market capitalization of $114.26 billion, a PE ratio of -25.65 and a beta of 1.39.

The Boeing (NYSE:BA) last released its earnings results on Wednesday, October 28th. The aircraft producer reported ($1.39) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.33) by $0.94. The Boeing had a negative net margin of 7.34% and a negative return on equity of 3.08%. Analysts predict that The Boeing Company will post -9.22 EPS for the current year.

About The Boeing

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

See Also: Can systematic risk be avoided?

Want to see what other hedge funds are holding BA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Boeing Company (NYSE:BA).

Institutional Ownership by Quarter for The Boeing (NYSE:BA)

Receive News & Ratings for The Boeing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Boeing and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply