Wellington Shields Capital Management LLC Increases Stock Position in The Boeing Company (NYSE:BA)

Wellington Shields Capital Management LLC raised its stake in shares of The Boeing Company (NYSE:BA) by 10.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,181 shares of the aircraft producer’s stock after purchasing an additional 2,637 shares during the period. Boeing accounts for approximately 0.9% of Wellington Shields Capital Management LLC’s holdings, making the stock its 22nd biggest position. Wellington Shields Capital Management LLC’s holdings in Boeing were worth $5,129,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BA. Vanguard Group Inc. grew its holdings in Boeing by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after buying an additional 1,222,816 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after purchasing an additional 4,425,964 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Boeing by 23.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock worth $2,560,466,000 after purchasing an additional 1,884,850 shares during the last quarter. Northern Trust Corp raised its stake in Boeing by 1.1% during the fourth quarter. Northern Trust Corp now owns 5,003,262 shares of the aircraft producer’s stock valued at $1,304,150,000 after purchasing an additional 52,081 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in Boeing by 14.1% during the first quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock valued at $811,221,000 after purchasing an additional 518,952 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Stock Performance

BA traded down $0.47 during trading on Friday, hitting $161.68. 387,061 shares of the stock were exchanged, compared to its average volume of 7,846,148. The firm has a 50 day simple moving average of $177.02 and a 200 day simple moving average of $181.13. The firm has a market cap of $99.25 billion, a price-to-earnings ratio of -45.68 and a beta of 1.56. The Boeing Company has a 1 year low of $158.30 and a 1 year high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) 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 analysts’ expectations of $17.35 billion. During the same quarter in the prior year, the company posted ($0.82) EPS. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. As a group, equities analysts anticipate that The Boeing Company will post -4.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

BA has been the topic of several recent research reports. Baird R W upgraded shares of Boeing to a “strong-buy” rating in a research report on Monday, June 3rd. Stifel Nicolaus upped their price objective on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company reiterated an “underweight” rating and issued a $119.00 target price (down previously from $185.00) on shares of Boeing in a report on Tuesday. Susquehanna restated a “positive” rating and set a $230.00 price target on shares of Boeing in a report on Wednesday, August 14th. Finally, Sanford C. Bernstein dropped their price objective on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $211.29.

Boeing 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.