Beck Capital Management LLC Has $1.47 Million Stock Position in The Boeing Company (NYSE:BA)

Beck Capital Management LLC lessened its holdings in The Boeing Company (NYSE:BA) by 7.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,051 shares of the aircraft producer’s stock after selling 619 shares during the period. Beck Capital Management LLC’s holdings in Boeing were worth $1,465,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Sanders Morris Harris LLC boosted its holdings in Boeing by 869.1% during 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 grew its position in Boeing by 20.7% in the 1st 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 purchased a new stake in Boeing in the 2nd quarter valued at about $1,637,000. Granite Bay Wealth Management LLC bought a new position in shares of Boeing during the 2nd quarter worth approximately $561,000. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in shares of Boeing by 115.6% in 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 last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Down 0.8 %

Shares of BA opened at $153.29 on Monday. The Boeing Company has a twelve month low of $152.60 and a twelve month high of $267.54. The stock has a market cap of $94.10 billion, a PE ratio of -43.18 and a beta of 1.57. The business’s 50-day moving average price is $171.21 and its 200-day moving average price is $177.41.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) 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 analyst estimates of $17.35 billion. Boeing’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.82) EPS. Analysts expect that The Boeing Company will post -4.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

BA has been the subject of a number of research analyst reports. Stifel Nicolaus lifted 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. Robert W. Baird lowered their target price on Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. Sanford C. Bernstein reduced their price target on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $225.00 price objective on shares of Boeing in a research report on Tuesday, June 25th. Finally, UBS Group reduced their target price on shares of Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, June 7th. Three analysts have rated the stock with a sell rating, seven have assigned 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $211.29.

About Boeing

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.