Patron Partners LLC Grows Stake in The Boeing Company (NYSE:BA)

Patron Partners LLC lifted its stake in The Boeing Company (NYSE:BA) by 7.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,734 shares of the aircraft producer’s stock after buying an additional 188 shares during the period. Patron Partners LLC’s holdings in Boeing were worth $416,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of BA. First National Trust Co lifted its stake in shares of Boeing by 5.5% in the third quarter. First National Trust Co now owns 3,316 shares of the aircraft producer’s stock worth $504,000 after acquiring an additional 172 shares in the last quarter. Peregrine Asset Advisers Inc. increased its holdings in Boeing by 26.4% during the 3rd quarter. Peregrine Asset Advisers Inc. now owns 1,435 shares of the aircraft producer’s stock worth $218,000 after purchasing an additional 300 shares during the last quarter. Patten & Patten Inc. TN raised its position in shares of Boeing by 19.8% in the 3rd quarter. Patten & Patten Inc. TN now owns 24,603 shares of the aircraft producer’s stock valued at $3,741,000 after purchasing an additional 4,065 shares in the last quarter. Kennebec Savings Bank purchased a new position in shares of Boeing during the 3rd quarter valued at approximately $379,000. Finally, Ashton Thomas Securities LLC grew its position in shares of Boeing by 11.2% during the third quarter. Ashton Thomas Securities LLC now owns 8,851 shares of the aircraft producer’s stock worth $1,346,000 after buying an additional 889 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BA shares. Morgan Stanley cut their target price on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft cut their price objective on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $195.00 to $169.00 in a research report on Wednesday, October 30th. Wells Fargo & Company dropped their price target on Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Finally, Susquehanna decreased their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Boeing currently has an average rating of “Hold” and a consensus target price of $190.37.

Boeing Trading Down 1.8 %

Boeing stock opened at $148.96 on Tuesday. The Boeing Company has a 52 week low of $144.13 and a 52 week high of $267.54. The stock has a market cap of $92.09 billion, a price-to-earnings ratio of -11.55 and a beta of 1.57. The company’s 50-day moving average price is $154.81 and its two-hundred day moving average price is $170.26.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same period in the prior year, the firm posted ($3.26) earnings per share. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. Research analysts expect that The Boeing Company will post -16.09 earnings per share for the current fiscal year.

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.