Kimelman & Baird LLC Makes New $80,000 Investment in The Boeing Company (NYSE:BA)

Kimelman & Baird LLC bought a new stake in The Boeing Company (NYSE:BA) in the 2nd quarter, Holdings Channel.com reports. The firm bought 440 shares of the aircraft producer’s stock, valued at approximately $80,000.

Other large investors have also recently made changes to their positions in the company. Gateway Wealth Partners LLC increased its position in Boeing by 151.8% during the second quarter. Gateway Wealth Partners LLC now owns 4,495 shares of the aircraft producer’s stock worth $818,000 after buying an additional 2,710 shares during the period. CMG Global Holdings LLC grew its position in shares of Boeing by 53.0% during the second quarter. CMG Global Holdings LLC now owns 13,874 shares of the aircraft producer’s stock worth $2,525,000 after acquiring an additional 4,806 shares during the last quarter. Ironwood Investment Management LLC acquired a new position in shares of Boeing in the 2nd quarter valued at $339,000. Regal Investment Advisors LLC raised its position in Boeing by 10.2% in the 2nd quarter. Regal Investment Advisors LLC now owns 3,440 shares of the aircraft producer’s stock valued at $626,000 after purchasing an additional 317 shares during the last quarter. Finally, Quarry LP boosted its stake in Boeing by 68.3% during the 2nd quarter. Quarry LP now owns 611 shares of the aircraft producer’s stock worth $111,000 after purchasing an additional 248 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Stock Down 2.7 %

Shares of BA stock opened at $152.03 on Tuesday. The stock has a market cap of $93.33 billion, a P/E ratio of -42.83 and a beta of 1.57. The Boeing Company has a fifty-two week low of $151.24 and a fifty-two week high of $267.54. The business has a fifty day simple moving average of $167.99 and a 200-day simple moving average of $175.90.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. During the same period in the prior year, the business earned ($0.82) EPS. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. On average, sell-side analysts anticipate that The Boeing Company will post -4.27 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on BA. Stifel Nicolaus raised 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. Baird R W raised Boeing to a “strong-buy” rating in a report on Monday, June 3rd. UBS Group decreased their price target on Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a report on Friday, June 7th. Wells Fargo & Company reissued an “underweight” rating and issued a $119.00 price objective (down from $185.00) on shares of Boeing in a research note on Tuesday, September 3rd. Finally, The Goldman Sachs Group reduced their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.