Glenmede Trust Co. NA Sells 1,974 Shares of The Boeing Company (NYSE:BA)

Glenmede Trust Co. NA lessened its stake in shares of The Boeing Company (NYSE:BA) by 2.9% in the third quarter, HoldingsChannel.com reports. The firm owned 65,186 shares of the aircraft producer’s stock after selling 1,974 shares during the quarter. Glenmede Trust Co. NA’s holdings in Boeing were worth $9,911,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Pathway Financial Advisers LLC bought a new position in Boeing during the 1st quarter valued at approximately $53,000. EverSource Wealth Advisors LLC raised its holdings in shares of Boeing by 36.5% during the first quarter. EverSource Wealth Advisors LLC now owns 5,730 shares of the aircraft producer’s stock valued at $1,106,000 after acquiring an additional 1,532 shares in the last quarter. HM Payson & Co. lifted its stake in Boeing by 10.0% in the first quarter. HM Payson & Co. now owns 3,483 shares of the aircraft producer’s stock worth $672,000 after acquiring an additional 318 shares during the period. GAMMA Investing LLC boosted its holdings in Boeing by 47.0% in the second quarter. GAMMA Investing LLC now owns 3,805 shares of the aircraft producer’s stock valued at $693,000 after acquiring an additional 1,216 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in Boeing by 10.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 2,789 shares of the aircraft producer’s stock valued at $508,000 after purchasing an additional 271 shares during the period. Institutional investors own 64.82% of the company’s stock.

Boeing Trading Up 2.1 %

Shares of BA opened at $155.65 on Friday. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $267.54. The business’s fifty day simple moving average is $151.48 and its two-hundred day simple moving average is $167.51. The company has a market cap of $96.22 billion, a price-to-earnings ratio of -12.07 and a beta of 1.57.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same period last year, the firm earned ($3.26) EPS. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, research analysts forecast that The Boeing Company will post -16.19 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BA shares. Morgan Stanley dropped their target price on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Susquehanna lowered 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. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a report on Tuesday, October 15th. 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, Deutsche Bank Aktiengesellschaft decreased their price objective on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $190.11.

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.