Trust Co. of Toledo NA OH Grows Holdings in The Boeing Company $BA

Trust Co. of Toledo NA OH grew its stake in The Boeing Company (NYSE:BA) by 3.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 12,058 shares of the aircraft producer’s stock after acquiring an additional 419 shares during the period. Trust Co. of Toledo NA OH’s holdings in Boeing were worth $2,527,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in BA. Vestcor Inc increased its stake in Boeing by 9.0% during the 1st quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer’s stock worth $2,471,000 after buying an additional 1,195 shares during the period. National Pension Service increased its stake in Boeing by 19.6% during the 1st quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer’s stock worth $227,365,000 after buying an additional 218,049 shares during the period. MFG Wealth Management Inc. purchased a new stake in Boeing during the 1st quarter worth approximately $2,125,000. Kelman Lazarov Inc. purchased a new stake in Boeing during the 1st quarter worth approximately $262,000. Finally, McElhenny Sheffield Capital Management LLC purchased a new stake in Boeing during the 2nd quarter worth approximately $62,859,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on BA. Bank of America upped their target price on shares of Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Redburn Atlantic raised shares of Boeing from a “hold” rating to a “strong-buy” rating and upped their target price for the stock from $180.00 to $275.00 in a research note on Friday, June 27th. KGI Securities raised shares of Boeing from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. UBS Group set a $280.00 price target on shares of Boeing and gave the stock a “buy” rating in a report on Wednesday, July 30th. Finally, Susquehanna reiterated a “positive” rating and set a $270.00 price target on shares of Boeing in a report on Monday, September 15th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $233.91.

Boeing Price Performance

NYSE BA opened at $211.04 on Friday. The firm’s fifty day moving average price is $224.29 and its 200 day moving average price is $206.19. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69. The company has a market capitalization of $159.58 billion, a price-to-earnings ratio of -12.78 and a beta of 1.47.

Boeing (NYSE:BA) last announced its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.32). The company had revenue of $22.75 billion for the quarter, compared to analysts’ expectations of $20.13 billion. During the same period in the previous year, the business posted ($2.90) earnings per share. Boeing’s revenue was up 34.9% compared to the same quarter last year. As a group, sell-side analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP David Christopher Raymond sold 3,771 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $229.94, for a total value of $867,103.74. Following the completion of the sale, the executive vice president directly owned 35,873 shares of the company’s stock, valued at $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mortimer J. Buckley purchased 2,200 shares of Boeing stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average cost of $226.10 per share, with a total value of $497,420.00. Following the completion of the transaction, the director owned 2,200 shares of the company’s stock, valued at $497,420. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is owned by insiders.

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.