Montchanin Asset Management LLC Boosts Stock Holdings in The Boeing Company (NYSE:BA)

Montchanin Asset Management LLC boosted its position in The Boeing Company (NYSE:BA) by 5.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,105 shares of the aircraft producer’s stock after purchasing an additional 430 shares during the period. Boeing comprises approximately 1.6% of Montchanin Asset Management LLC’s portfolio, making the stock its 16th biggest holding. Montchanin Asset Management LLC’s holdings in Boeing were worth $1,657,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Raymond James & Associates raised its holdings in Boeing by 0.8% during the 2nd quarter. Raymond James & Associates now owns 968,727 shares of the aircraft producer’s stock valued at $176,318,000 after acquiring an additional 7,873 shares during the period. Oakworth Capital Inc. increased its holdings in shares of Boeing by 6.3% in the second quarter. Oakworth Capital Inc. now owns 2,099 shares of the aircraft producer’s stock worth $382,000 after purchasing an additional 125 shares during the period. Tyche Wealth Partners LLC increased its holdings in shares of Boeing by 5.9% in the second quarter. Tyche Wealth Partners LLC now owns 2,603 shares of the aircraft producer’s stock worth $474,000 after purchasing an additional 144 shares during the period. 1858 Wealth Management LLC increased its holdings in shares of Boeing by 179.6% in the second quarter. 1858 Wealth Management LLC now owns 3,425 shares of the aircraft producer’s stock worth $623,000 after purchasing an additional 2,200 shares during the period. Finally, Everpar Advisors LLC increased its holdings in shares of Boeing by 93.0% in the second quarter. Everpar Advisors LLC now owns 4,230 shares of the aircraft producer’s stock worth $770,000 after purchasing an additional 2,038 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

BA has been the topic of several research analyst reports. Argus cut shares of Boeing from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Bank of America upped their price target on shares of Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, June 13th. Wells Fargo & Company decreased their price target on shares of Boeing from $190.00 to $185.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. StockNews.com lowered shares of Boeing from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. Finally, Susquehanna reiterated a “positive” rating and issued a $230.00 target price on shares of Boeing in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $215.18.

Boeing Stock Performance

Shares of BA traded up $3.58 on Friday, hitting $179.99. 6,731,504 shares of the stock traded hands, compared to its average volume of 8,062,681. The company has a market capitalization of $110.49 billion, a PE ratio of -50.70 and a beta of 1.56. The business has a 50 day simple moving average of $179.34 and a 200 day simple moving average of $184.53. The Boeing Company has a one year low of $159.70 and a one year high of $267.54.

Boeing (NYSE:BA) last issued 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 company had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same quarter in the prior year, the company earned ($0.82) EPS. The company’s revenue was down 14.6% compared to the same quarter last year. On average, equities analysts expect that The Boeing Company will post -2.38 earnings per share for the current year.

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.