ELCO Management Co. LLC Has $1.26 Million Stake in The Boeing Company (NYSE:BA)

ELCO Management Co. LLC cut its holdings in The Boeing Company (NYSE:BA) by 2.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,914 shares of the aircraft producer’s stock after selling 160 shares during the quarter. ELCO Management Co. LLC’s holdings in Boeing were worth $1,258,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Sanders Morris Harris LLC raised its position in shares of Boeing by 869.1% in the 1st quarter. Sanders Morris Harris LLC now owns 22,775 shares of the aircraft producer’s stock valued at $4,395,000 after acquiring an additional 20,425 shares during the period. Park Avenue Securities LLC boosted its position in shares of Boeing by 20.7% during 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 in the last quarter. Williams Financial LLC acquired a new position in shares of Boeing in the 2nd quarter valued at $1,637,000. Granite Bay Wealth Management LLC bought a new stake in shares of Boeing in the 2nd quarter valued at $561,000. Finally, Envestnet Portfolio Solutions Inc. raised its stake in Boeing by 115.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 14,637 shares of the aircraft producer’s stock worth $2,825,000 after buying an additional 7,848 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of BA opened at $155.87 on Wednesday. The company’s fifty day simple moving average is $170.15 and its 200 day simple moving average is $176.78. The Boeing Company has a 1-year low of $151.65 and a 1-year high of $267.54.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same quarter last year, the firm posted ($0.82) earnings per share. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. Equities analysts forecast that The Boeing Company will post -4.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BA. Stifel Nicolaus increased their price target on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Susquehanna restated a “positive” rating and set a $230.00 target price on shares of Boeing in a report on Wednesday, August 14th. Wells Fargo & Company reiterated an “underweight” rating and issued a $119.00 price target (down previously from $185.00) on shares of Boeing in a report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $225.00 price objective on shares of Boeing in a report on Tuesday, June 25th. Finally, Baird R W raised shares of Boeing to a “strong-buy” rating in a research note on Monday, June 3rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Boeing has a consensus rating of “Moderate Buy” and a consensus price target of $209.83.

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.