Presidio Capital Management LLC Sells 278 Shares of The Boeing Company (NYSE:BA)

Presidio Capital Management LLC cut its position in shares of The Boeing Company (NYSE:BA) by 14.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,589 shares of the aircraft producer’s stock after selling 278 shares during the period. Presidio Capital Management LLC’s holdings in Boeing were worth $289,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. U.S. Capital Wealth Advisors LLC grew its holdings in shares of Boeing by 41.5% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 15,761 shares of the aircraft producer’s stock valued at $4,108,000 after purchasing an additional 4,622 shares in the last quarter. Orca Investment Management LLC increased its holdings in shares of Boeing by 5.5% in the 4th quarter. Orca Investment Management LLC now owns 3,772 shares of the aircraft producer’s stock worth $983,000 after buying an additional 195 shares during the last quarter. One Charles Private Wealth Services LLC purchased a new stake in shares of Boeing during the 4th quarter valued at about $205,000. Sanders Morris Harris LLC grew its position in Boeing by 869.1% in the first quarter. Sanders Morris Harris LLC now owns 22,775 shares of the aircraft producer’s stock worth $4,395,000 after acquiring an additional 20,425 shares in the last quarter. Finally, Park Avenue Securities LLC grew its position in Boeing by 20.7% in the first quarter. Park Avenue Securities LLC now owns 10,543 shares of the aircraft producer’s stock worth $2,035,000 after acquiring an additional 1,805 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

Boeing stock traded down $2.23 during trading hours on Wednesday, reaching $170.82. The stock had a trading volume of 4,541,378 shares, compared to its average volume of 7,897,000. The Boeing Company has a 52 week low of $159.70 and a 52 week high of $267.54. The company has a market cap of $104.86 billion, a price-to-earnings ratio of -48.12 and a beta of 1.56. The business’s 50 day moving average price is $178.34 and its 200-day moving average price is $182.61.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The company had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same period last year, the firm earned ($0.82) earnings per share. The firm’s revenue was down 14.6% compared to the same quarter last year. On average, sell-side analysts forecast that The Boeing Company will post -2.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on BA. Robert W. Baird dropped their price objective on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, June 3rd. UBS Group reduced their price objective on shares of Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, June 7th. Sanford C. Bernstein dropped their target price on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Wells Fargo & Company decreased their price target on Boeing from $190.00 to $185.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Finally, Susquehanna reaffirmed a “positive” rating and issued a $230.00 price objective on shares of Boeing in a research report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $215.18.

Boeing 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.