McGinn Penninger Investment Management Inc. Acquires 150 Shares of The Boeing Company (NYSE:BA)

McGinn Penninger Investment Management Inc. raised its holdings in shares of The Boeing Company (NYSE:BA) by 0.6% in the second quarter, HoldingsChannel reports. The firm owned 25,381 shares of the aircraft producer’s stock after buying an additional 150 shares during the quarter. Boeing makes up 3.1% of McGinn Penninger Investment Management Inc.’s investment portfolio, making the stock its 14th biggest position. McGinn Penninger Investment Management Inc.’s holdings in Boeing were worth $4,620,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Sanders Morris Harris LLC increased its position in Boeing by 869.1% during the 1st quarter. Sanders Morris Harris LLC now owns 22,775 shares of the aircraft producer’s stock valued at $4,395,000 after purchasing an additional 20,425 shares during the period. Park Avenue Securities LLC boosted its position in Boeing by 20.7% during the 1st quarter. Park Avenue Securities LLC now owns 10,543 shares of the aircraft producer’s stock valued at $2,035,000 after acquiring an additional 1,805 shares in the last quarter. Williams Financial LLC bought a new position in shares of Boeing in the 2nd quarter worth approximately $1,637,000. Granite Bay Wealth Management LLC bought a new stake in shares of Boeing during the second quarter valued at approximately $561,000. Finally, Envestnet Portfolio Solutions Inc. grew its stake in Boeing by 115.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 14,637 shares of the aircraft producer’s stock worth $2,825,000 after purchasing an additional 7,848 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on BA shares. Sanford C. Bernstein decreased their price target on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Robert W. Baird reduced their price objective on Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. The Goldman Sachs Group lowered their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Wells Fargo & Company reissued an “underweight” rating and issued a $119.00 target price (down from $185.00) on shares of Boeing in a research note on Tuesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $225.00 price target on shares of Boeing in a report on Tuesday, June 25th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $209.83.

Boeing Stock Down 2.7 %

Shares of NYSE:BA opened at $152.03 on Tuesday. The firm’s 50 day moving average price is $167.99 and its 200-day moving average price is $175.90. The stock has a market capitalization of $93.33 billion, a PE ratio of -42.83 and a beta of 1.57. The Boeing Company has a twelve month low of $151.24 and a twelve month high of $267.54.

Boeing (NYSE:BA) last issued its quarterly 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 firm had revenue of $16.87 billion for the quarter, compared to analyst estimates of $17.35 billion. During the same quarter in the previous year, the company earned ($0.82) EPS. Boeing’s revenue was down 14.6% on a year-over-year basis. Analysts expect that The Boeing Company will post -4.27 earnings per share 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.