Independence Bank of Kentucky Buys 1,747 Shares of The Boeing Company (NYSE:BA)

Independence Bank of Kentucky increased its stake in shares of The Boeing Company (NYSE:BA) by 28.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,800 shares of the aircraft producer’s stock after acquiring an additional 1,747 shares during the quarter. Independence Bank of Kentucky’s holdings in Boeing were worth $2,033,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CNB Bank increased its holdings in Boeing by 106.5% in the 3rd quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock valued at $25,000 after buying an additional 66 shares during the period. VisionPoint Advisory Group LLC bought a new stake in Boeing in the 2nd quarter valued at $32,000. True Wealth Design LLC bought a new stake in Boeing in the 4th quarter valued at $33,000. M&R Capital Management Inc. increased its holdings in Boeing by 35.0% in the 4th quarter. M&R Capital Management Inc. now owns 193 shares of the aircraft producer’s stock valued at $50,000 after buying an additional 50 shares during the period. Finally, Fortis Capital Advisors LLC increased its holdings in Boeing by 100.0% in the 1st quarter. Fortis Capital Advisors LLC now owns 200 shares of the aircraft producer’s stock valued at $42,000 after buying an additional 100 shares during the period. Institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BA. Bank of America lowered their price target on shares of Boeing from $225.00 to $210.00 and set a “neutral” rating on the stock in a report on Thursday, March 21st. Northcoast Research lowered shares of Boeing from a “buy” rating to a “neutral” rating in a report on Friday, February 23rd. Susquehanna lowered their target price on shares of Boeing from $265.00 to $230.00 and set a “positive” rating on the stock in a report on Thursday, March 21st. William Blair began coverage on shares of Boeing in a report on Tuesday, December 12th. They issued an “outperform” rating on the stock. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $235.00 target price on shares of Boeing in a report on Monday, March 25th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and an average target price of $241.53.

Boeing Stock Down 1.6 %

Shares of NYSE BA opened at $184.98 on Thursday. The Boeing Company has a 12-month low of $176.25 and a 12-month high of $267.54. The company has a market cap of $112.86 billion, a price-to-earnings ratio of -50.27, a price-to-earnings-growth ratio of 47.58 and a beta of 1.52. The firm’s 50-day simple moving average is $198.22 and its 200 day simple moving average is $209.15.

Boeing (NYSE:BA) last released its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The business had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.75) earnings per share. On average, equities analysts expect that The Boeing Company will post 1 earnings per share for the current year.

Boeing Company Profile

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.