SFE Investment Counsel Decreases Stock Holdings in The Boeing Company (NYSE:BA)

SFE Investment Counsel lowered its position in The Boeing Company (NYSE:BA) by 1.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,227 shares of the aircraft producer’s stock after selling 110 shares during the period. SFE Investment Counsel’s holdings in Boeing were worth $1,315,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Boeing during the fourth quarter worth $26,000. Vima LLC purchased a new position in Boeing during the 4th quarter worth $34,000. Accent Capital Management LLC acquired a new position in Boeing during the 4th quarter valued at about $39,000. Frank Rimerman Advisors LLC purchased a new stake in Boeing in the fourth quarter valued at about $48,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Boeing in the second quarter worth about $34,000. Institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

NYSE BA opened at $157.65 on Friday. The Boeing Company has a 1-year low of $156.70 and a 1-year high of $267.54. The company has a market cap of $96.78 billion, a PE ratio of -44.41 and a beta of 1.56. The stock’s 50 day simple moving average is $176.53 and its 200-day simple moving average is $180.81.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. The firm’s revenue was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.82) earnings per share. On average, equities research analysts anticipate that The Boeing Company will post -4.26 EPS for the current fiscal year.

Analyst Ratings Changes

BA has been the subject of several research analyst reports. Stifel Nicolaus increased their price objective on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $225.00 price target on shares of Boeing in a report on Tuesday, June 25th. Wells Fargo & Company reissued an “underweight” rating and set a $119.00 price objective (down from $185.00) on shares of Boeing in a report on Tuesday. Bank of America raised their target price on Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, June 13th. Finally, UBS Group dropped their price target on Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $211.29.

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.