FARMERS & MERCHANTS TRUST Co OF LONG BEACH Boosts Position in The Boeing Company (NYSE:BA)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its holdings in shares of The Boeing Company (NYSE:BA) by 2.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,179 shares of the aircraft producer’s stock after acquiring an additional 468 shares during the quarter. Boeing comprises 1.0% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s investment portfolio, making the stock its 22nd largest position. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Boeing were worth $3,894,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Boeing during the 4th quarter valued at about $26,000. Evolution Advisers Inc. bought a new stake in Boeing in the 4th quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. bought a new stake in Boeing in the 4th quarter worth approximately $28,000. Vima LLC bought a new stake in Boeing in the 4th quarter worth approximately $34,000. Finally, Accent Capital Management LLC bought a new stake in Boeing in the 4th quarter worth approximately $39,000. Institutional investors own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on BA shares. Sanford C. Bernstein dropped their target price on Boeing from $230.00 to $215.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. The Goldman Sachs Group dropped their target price on Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a research report on Monday, March 25th. Royal Bank of Canada dropped their target price on Boeing from $225.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, April 16th. Melius reiterated a “hold” rating on shares of Boeing in a research report on Monday, April 1st. Finally, Argus downgraded Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.89.

Boeing Price Performance

BA stock traded up $0.24 during midday trading on Tuesday, hitting $186.94. The stock had a trading volume of 1,602,974 shares, compared to its average volume of 8,505,768. The firm has a market cap of $114.76 billion, a price-to-earnings ratio of -52.70 and a beta of 1.56. The business has a 50-day moving average of $178.50 and a two-hundred day moving average of $198.05. The Boeing Company has a 52-week low of $159.70 and a 52-week high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share for the quarter, topping the consensus estimate of ($1.43) by $0.30. The firm had revenue of $16.57 billion during the quarter, compared to analysts’ expectations of $17.69 billion. Research analysts predict that The Boeing Company will post -1.67 earnings per share for the current 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.