ELCO Management Co. LLC Has $930,000 Stock Holdings in The Boeing Company $BA

ELCO Management Co. LLC decreased its holdings in The Boeing Company (NYSE:BA) by 4.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in BA. Wallace Advisory Group LLC increased its position in shares of Boeing by 1.2% during the 2nd quarter. Wallace Advisory Group LLC now owns 3,570 shares of the aircraft producer’s stock worth $748,000 after purchasing an additional 44 shares in the last quarter. Aspire Capital Advisors LLC increased its position in shares of Boeing by 0.8% during the 2nd quarter. Aspire Capital Advisors LLC now owns 5,943 shares of the aircraft producer’s stock worth $1,245,000 after purchasing an additional 45 shares in the last quarter. Lantz Financial LLC increased its position in shares of Boeing by 1.5% during the 2nd quarter. Lantz Financial LLC now owns 3,072 shares of the aircraft producer’s stock worth $644,000 after purchasing an additional 46 shares in the last quarter. Atlas Brown Inc. increased its position in shares of Boeing by 0.7% during the 2nd quarter. Atlas Brown Inc. now owns 6,498 shares of the aircraft producer’s stock worth $1,362,000 after purchasing an additional 48 shares in the last quarter. Finally, Moody National Bank Trust Division increased its position in shares of Boeing by 2.7% during the 2nd quarter. Moody National Bank Trust Division now owns 1,836 shares of the aircraft producer’s stock worth $385,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Insider Activity at Boeing

In other Boeing news, Director Mortimer J. Buckley purchased 2,200 shares of the stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the transaction, the director directly owned 2,200 shares in the company, valued at $497,420. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction of $867,103.74. Following the sale, the executive vice president owned 35,873 shares of the company’s stock, valued at approximately $8,248,637.62. This represents a 9.51% decrease in their position. The SEC filing for this sale provides additional information. 0.09% of the stock is owned by insiders.

Boeing Trading Up 0.3%

Shares of NYSE BA opened at $223.60 on Wednesday. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The firm’s 50-day moving average is $221.46 and its 200-day moving average is $211.77. The firm has a market capitalization of $169.08 billion, a PE ratio of -13.54 and a beta of 1.47.

Boeing (NYSE:BA) last issued its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing the consensus estimate 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 period last year, the company posted ($2.90) EPS. Boeing’s revenue for the quarter was up 34.9% compared to the same quarter last year. As a group, equities research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on BA shares. Barclays increased their target price on shares of Boeing from $210.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Morgan Stanley reiterated an “equal weight” rating on shares of Boeing in a research report on Monday, July 28th. KGI Securities upgraded shares of Boeing from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 24th. Royal Bank Of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of Boeing in a research report on Monday, September 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Boeing in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and a consensus 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.