Electron Capital Partners LLC Has $8.42 Million Position in The Boeing Company $BA

Electron Capital Partners LLC reduced its stake in shares of The Boeing Company (NYSE:BA) by 76.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,372 shares of the aircraft producer’s stock after selling 162,426 shares during the quarter. Boeing accounts for 0.6% of Electron Capital Partners LLC’s portfolio, making the stock its 23rd largest position. Electron Capital Partners LLC’s holdings in Boeing were worth $8,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Zimmer Partners LP bought a new position in Boeing in the fourth quarter valued at about $393,736,000. Sculptor Capital LP acquired a new stake in shares of Boeing during the fourth quarter worth about $265,500,000. Vanguard Group Inc. raised its position in shares of Boeing by 1.9% during the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock worth $11,197,468,000 after purchasing an additional 1,212,327 shares during the period. GAMMA Investing LLC raised its position in shares of Boeing by 19,333.1% during the first quarter. GAMMA Investing LLC now owns 997,888 shares of the aircraft producer’s stock worth $170,190,000 after purchasing an additional 992,753 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in shares of Boeing by 243.8% during the first quarter. Canada Pension Plan Investment Board now owns 754,550 shares of the aircraft producer’s stock worth $128,689,000 after purchasing an additional 535,060 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Stock Down 2.1%

NYSE:BA opened at $232.33 on Thursday. The firm has a market capitalization of $175.68 billion, a price-to-earnings ratio of -14.07 and a beta of 1.48. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The stock’s 50 day moving average price is $226.68 and its two-hundred day moving average price is $197.06.

Boeing (NYSE:BA) last posted its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The business had revenue of $22.75 billion during the quarter, compared to analysts’ expectations of $20.13 billion. During the same quarter last year, the business earned ($2.90) earnings per share. The firm’s revenue was up 34.9% on a year-over-year basis. As a group, analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Activity at Boeing

In other Boeing news, Director Mortimer J. Buckley bought 2,200 shares of Boeing stock in a transaction dated Tuesday, August 19th. The stock was bought at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the purchase, the director owned 2,200 shares of the company’s stock, valued at $497,420. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the transaction, the executive vice president owned 35,873 shares of the company’s stock, valued at $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BA. Jefferies Financial Group raised their price target on Boeing from $230.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Redburn Atlantic raised Boeing from a “hold” rating to a “strong-buy” rating and lifted their target price for the company from $180.00 to $275.00 in a research report on Friday, June 27th. Royal Bank Of Canada reissued an “outperform” rating and issued a $250.00 target price on shares of Boeing in a research report on Wednesday, July 30th. Wall Street Zen lowered Boeing from a “hold” rating to a “sell” rating in a research report on Saturday, May 17th. Finally, The Goldman Sachs Group set a $212.00 target price on Boeing and gave the company a “buy” rating in a research report on Thursday, June 12th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $228.90.

Boeing Company 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.