Sippican Capital Advisors Cuts Stock Position in The Boeing Company (NYSE:BA)

Sippican Capital Advisors decreased its position in shares of The Boeing Company (NYSE:BA) by 60.9% in the fourth quarter, HoldingsChannel reports. The fund owned 2,953 shares of the aircraft producer’s stock after selling 4,604 shares during the quarter. Sippican Capital Advisors’ holdings in Boeing were worth $523,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Sugar Maple Asset Management LLC acquired a new stake in Boeing in the 4th quarter worth approximately $27,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Boeing during the third quarter worth $28,000. Cedar Wealth Management LLC purchased a new stake in shares of Boeing during the third quarter valued at $30,000. Planning Capital Management Corp increased its position in shares of Boeing by 741.0% in the 3rd quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock valued at $50,000 after acquiring an additional 289 shares during the period. Finally, Albion Financial Group UT lifted its position in Boeing by 116.1% during the 4th quarter. Albion Financial Group UT now owns 296 shares of the aircraft producer’s stock worth $52,000 after acquiring an additional 159 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Stock Performance

Boeing stock opened at $174.03 on Thursday. The stock has a market capitalization of $107.58 billion, a P/E ratio of -13.49 and a beta of 1.52. The company’s fifty day moving average price is $167.68 and its 200 day moving average price is $164.19. The Boeing Company has a 1 year low of $137.03 and a 1 year high of $214.63.

Boeing (NYSE:BA) last released its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period last year, the firm earned ($0.47) EPS. Sell-side analysts predict that The Boeing Company will post -16.39 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of Boeing in a research report on Wednesday. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a report on Tuesday, October 15th. Citigroup reduced their target price on shares of Boeing from $209.00 to $207.00 and set a “buy” rating for the company in a report on Friday, January 24th. Finally, Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $195.00 to $169.00 in a report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $195.00.

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.