Ledyard National Bank Cuts Stake in Boeing (BA)

Ledyard National Bank lowered its stake in shares of Boeing (NYSE:BA) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,811 shares of the aircraft producer’s stock after selling 870 shares during the period. Boeing comprises 1.1% of Ledyard National Bank’s investment portfolio, making the stock its 22nd biggest position. Ledyard National Bank’s holdings in Boeing were worth $9,087,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Lipe & Dalton acquired a new position in Boeing during the third quarter worth about $100,000. Burt Wealth Advisors acquired a new position in Boeing during the third quarter worth about $100,000. Stonehearth Capital Management LLC acquired a new position in Boeing during the fourth quarter worth about $105,000. Solaris Asset Management LLC acquired a new position in Boeing during the fourth quarter worth about $111,000. Finally, Clear Perspective Advisors LLC boosted its position in Boeing by 31.0% during the second quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock worth $113,000 after acquiring an additional 135 shares during the last quarter. 70.75% of the stock is owned by institutional investors and hedge funds.

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BA stock opened at $321.00 on Friday. The company has a quick ratio of 0.37, a current ratio of 1.16 and a debt-to-equity ratio of 23.74. Boeing has a fifty-two week low of $173.75 and a fifty-two week high of $371.60. The company has a market cap of $188,087.38, a P/E ratio of 23.83, a PEG ratio of 1.65 and a beta of 1.37.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported $4.80 EPS for the quarter, topping the consensus estimate of $2.91 by $1.89. Boeing had a net margin of 8.78% and a negative return on equity of 11,050.62%. The firm had revenue of $25.37 billion for the quarter, compared to analyst estimates of $24.78 billion. During the same period in the prior year, the business posted $2.47 EPS. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. research analysts anticipate that Boeing will post 14.05 earnings per share for the current year.

Boeing declared that its Board of Directors has approved a stock repurchase program on Monday, December 11th that authorizes the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization authorizes the aircraft producer to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

In other news, CFO Gregory D. Smith sold 36,079 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $337.43, for a total value of $12,174,136.97. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.28% of the company’s stock.

BA has been the topic of a number of recent research reports. Buckingham Research restated a “hold” rating and set a $203.00 price target on shares of Boeing in a research report on Friday, December 22nd. Jefferies Group restated a “buy” rating and set a $339.00 price target on shares of Boeing in a research report on Monday, January 8th. Credit Suisse Group restated an “outperform” rating and set a $375.00 price target (up from $310.00) on shares of Boeing in a research report on Friday, January 12th. They noted that the move was a valuation call. Morgan Stanley restated an “equal weight” rating and set a $373.00 price target (up from $340.00) on shares of Boeing in a research report on Friday, February 23rd. Finally, Vetr lowered shares of Boeing from a “strong-buy” rating to a “buy” rating and set a $386.80 price target on the stock. in a research report on Thursday, March 8th. Ten analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $358.47.

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Boeing Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

Institutional Ownership by Quarter for Boeing (NYSE:BA)

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