Kimelman & Baird LLC Takes Position in The Boeing Company (NYSE:BA)

Kimelman & Baird LLC acquired a new stake in The Boeing Company (NYSE:BA) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 440 shares of the aircraft producer’s stock, valued at approximately $80,000.

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

Analysts Set New Price Targets

Several brokerages have recently commented on BA. Robert W. Baird decreased their price objective on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, June 3rd. Wells Fargo & Company restated an “underweight” rating and set a $119.00 price target (down from $185.00) on shares of Boeing in a research report on Tuesday, September 3rd. Sanford C. Bernstein dropped their price objective on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Susquehanna reissued a “positive” rating and set a $230.00 target price on shares of Boeing in a research note on Wednesday, August 14th. Finally, Baird R W upgraded Boeing to a “strong-buy” rating in a report on Monday, June 3rd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $209.83.

Boeing Trading Down 2.7 %

Shares of BA stock opened at $152.03 on Tuesday. The company has a market cap of $93.33 billion, a P/E ratio of -42.83 and a beta of 1.57. The firm has a fifty day moving average price of $167.99 and a 200 day moving average price of $175.90. The Boeing Company has a 12 month low of $151.24 and a 12 month high of $267.54.

Boeing (NYSE:BA) last released its quarterly earnings data 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 firm had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same period in the prior year, the company posted ($0.82) earnings per share. The business’s quarterly revenue was down 14.6% on a year-over-year basis. On average, equities analysts forecast that The Boeing Company will post -4.27 EPS for the current year.

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.