Wellington Shields Capital Management LLC Boosts Stock Position in The Boeing Company (NYSE:BA)

Wellington Shields Capital Management LLC raised its stake in shares of The Boeing Company (NYSE:BA) by 10.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,181 shares of the aircraft producer’s stock after buying an additional 2,637 shares during the quarter. Boeing comprises about 0.9% of Wellington Shields Capital Management LLC’s investment portfolio, making the stock its 22nd biggest holding. Wellington Shields Capital Management LLC’s holdings in Boeing were worth $5,129,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of BA. Sanders Morris Harris LLC raised its holdings in Boeing by 869.1% in the 1st 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 during the last quarter. Park Avenue Securities LLC raised its stake in shares of 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 purchasing an additional 1,805 shares during the last quarter. Williams Financial LLC bought a new position in shares of Boeing during the second quarter valued at $1,637,000. Dakota Wealth Management boosted its position in shares of Boeing by 47.1% during the first quarter. Dakota Wealth Management now owns 12,730 shares of the aircraft producer’s stock valued at $2,457,000 after buying an additional 4,078 shares during the last quarter. Finally, Granite Bay Wealth Management LLC bought a new stake in Boeing in the 2nd quarter worth about $561,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BA has been the topic of a number of recent analyst reports. Bank of America raised their price target on shares of Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, June 13th. Sanford C. Bernstein dropped their target price on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Stifel Nicolaus boosted their target price on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $225.00 price target on shares of Boeing in a research note on Tuesday, June 25th. Finally, Susquehanna reiterated a “positive” rating and set a $230.00 price objective on shares of Boeing in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $211.29.

Boeing Stock Performance

Shares of NYSE BA traded down $0.47 during midday trading on Friday, reaching $161.68. The stock had a trading volume of 387,061 shares, compared to its average volume of 7,846,148. The company has a market capitalization of $99.25 billion, a price-to-earnings ratio of -45.68 and a beta of 1.56. The Boeing Company has a 12-month low of $158.30 and a 12-month high of $267.54. The stock has a 50-day moving average of $177.02 and a 200-day moving average of $181.13.

Boeing (NYSE:BA) last posted its quarterly 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 business had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.82) earnings per share. As a group, analysts forecast that The Boeing Company will post -4.26 EPS for the current fiscal year.

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.