ELCO Management Co. LLC Sells 221 Shares of The Boeing Company $BA

ELCO Management Co. LLC decreased its position in shares of The Boeing Company (NYSE:BA) by 4.7% during the 2nd quarter, Holdings Channel reports. The fund owned 4,439 shares of the aircraft producer’s stock after selling 221 shares during the quarter. ELCO Management Co. LLC’s holdings in Boeing were worth $930,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Whalen Wealth Management Inc. bought a new position in Boeing during the 2nd quarter worth approximately $262,000. Quaker Wealth Management LLC boosted its stake in Boeing by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 951 shares of the aircraft producer’s stock worth $199,000 after acquiring an additional 1,902 shares during the last quarter. Beirne Wealth Consulting Services LLC bought a new position in Boeing during the 2nd quarter worth approximately $318,000. Bank of Jackson Hole Trust boosted its stake in Boeing by 71.5% during the 2nd quarter. Bank of Jackson Hole Trust now owns 763 shares of the aircraft producer’s stock worth $160,000 after acquiring an additional 318 shares during the last quarter. Finally, Austin Private Wealth LLC bought a new position in Boeing during the 2nd quarter worth approximately $243,000. Institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of BA opened at $223.60 on Wednesday. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The firm’s 50 day moving average price is $221.46 and its two-hundred day moving average price is $211.77. The firm has a market cap of $169.08 billion, a P/E ratio of -13.54 and a beta of 1.47.

Boeing (NYSE:BA) last posted its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.32). The firm had revenue of $22.75 billion for the quarter, compared to the consensus estimate of $20.13 billion. During the same quarter in the previous year, the business earned ($2.90) EPS. The firm’s revenue was up 34.9% compared to the same quarter last year. On average, sell-side analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $229.94, for a total value of $867,103.74. Following the sale, the executive vice president directly owned 35,873 shares in the company, valued at $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mortimer J. Buckley acquired 2,200 shares of the stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the acquisition, the director directly owned 2,200 shares of the company’s stock, valued at $497,420. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.09% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BA. KGI Securities raised shares of Boeing from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. Susquehanna reissued a “positive” rating and set a $270.00 price objective on shares of Boeing in a research note on Monday, September 15th. Citigroup reaffirmed a “buy” rating on shares of Boeing in a research note on Monday, July 28th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Boeing in a research note on Monday, July 28th. Finally, Bank of America lifted their price target on shares of Boeing from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and an average target price of $242.32.

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.