Electron Capital Partners LLC Grows Position in The Boeing Company $BA

Electron Capital Partners LLC raised its position in shares of The Boeing Company (NYSE:BA) by 594.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 342,823 shares of the aircraft producer’s stock after acquiring an additional 293,451 shares during the period. Boeing makes up approximately 3.8% of Electron Capital Partners LLC’s holdings, making the stock its 12th biggest holding. Electron Capital Partners LLC’s holdings in Boeing were worth $71,832,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BA. Harbor Asset Planning Inc. bought a new position in Boeing during the second quarter valued at $25,000. Piscataqua Savings Bank raised its position in shares of Boeing by 1,712.5% during the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock valued at $30,000 after buying an additional 137 shares in the last quarter. Howard Hughes Medical Institute bought a new position in shares of Boeing in the 2nd quarter valued at about $34,000. Decker Retirement Planning Inc. purchased a new position in Boeing in the second quarter worth about $35,000. Finally, IMG Wealth Management Inc. grew its position in Boeing by 159.4% in the second quarter. IMG Wealth Management Inc. now owns 179 shares of the aircraft producer’s stock worth $38,000 after acquiring an additional 110 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Dana S. Deasy bought 554 shares of the stock in a transaction on Monday, November 24th. The stock was acquired at an average cost of $178.88 per share, for a total transaction of $99,099.52. Following the acquisition, the senior vice president owned 28,442 shares of the company’s stock, valued at $5,087,704.96. This represents a 1.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Uma M. Amuluru sold 1,366 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $197.66, for a total value of $270,003.56. Following the transaction, the executive vice president directly owned 14,656 shares in the company, valued at $2,896,904.96. The trade was a 8.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.09% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

BA has been the subject of several analyst reports. BNP Paribas set a $150.00 price objective on Boeing in a research note on Tuesday, November 18th. Royal Bank Of Canada restated an “outperform” rating and issued a $250.00 price target on shares of Boeing in a research report on Monday, September 29th. Loop Capital set a $223.00 price objective on shares of Boeing in a research note on Monday, November 3rd. Sanford C. Bernstein reissued an “outperform” rating and issued a $267.00 target price on shares of Boeing in a research note on Friday, November 14th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Boeing in a research note on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Boeing has an average rating of “Moderate Buy” and a consensus target price of $232.96.

Boeing Trading Up 1.8%

NYSE BA opened at $204.33 on Friday. The stock has a market cap of $155.31 billion, a PE ratio of -14.94 and a beta of 1.18. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69. The company’s 50-day moving average price is $202.82 and its 200-day moving average price is $214.03.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The company had revenue of $23.27 billion for the quarter, compared to the consensus estimate of $21.61 billion. Boeing’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same period last year, the firm earned ($10.44) EPS. As a group, sell-side analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

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.