Elgethun Capital Management Makes New Investment in The Boeing Company (NYSE:BA)

Elgethun Capital Management acquired a new stake in The Boeing Company (NYSE:BA) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 763 shares of the aircraft producer’s stock, valued at approximately $161,000.

A number of other hedge funds have also modified their holdings of the business. Coston McIsaac & Partners grew its position in Boeing by 62.5% during the 2nd quarter. Coston McIsaac & Partners now owns 130 shares of the aircraft producer’s stock worth $27,000 after purchasing an additional 50 shares during the last quarter. IFS Advisors LLC grew its holdings in shares of Boeing by 523.8% during the second quarter. IFS Advisors LLC now owns 131 shares of the aircraft producer’s stock worth $28,000 after buying an additional 110 shares during the last quarter. Aspire Private Capital LLC acquired a new position in Boeing in the 1st quarter valued at about $29,740,200,000. Blue Bell Private Wealth Management LLC raised its stake in Boeing by 54.3% during the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 142 shares of the aircraft producer’s stock valued at $30,000 after acquiring an additional 50 shares during the last quarter. Finally, M&R Capital Management Inc. lifted its position in Boeing by 90.7% during the 2nd quarter. M&R Capital Management Inc. now owns 143 shares of the aircraft producer’s stock worth $30,000 after acquiring an additional 68 shares during the period. 61.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BA shares. Wells Fargo & Company lowered their price objective on shares of Boeing from $270.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 3rd. UBS Group initiated coverage on Boeing in a report on Tuesday, October 10th. They issued a “buy” rating and a $275.00 price target on the stock. Bank of America upgraded shares of Boeing from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $225.00 to $300.00 in a research report on Thursday, July 27th. Deutsche Bank Aktiengesellschaft raised shares of Boeing from a “hold” rating to a “buy” rating and boosted their target price for the company from $204.00 to $270.00 in a research note on Monday. Finally, Susquehanna reissued a “positive” rating and set a $270.00 price target on shares of Boeing in a research note on Wednesday, September 13th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $249.38.

Boeing Trading Up 0.2 %

NYSE:BA traded up $0.33 during trading hours on Tuesday, hitting $218.04. The stock had a trading volume of 1,613,210 shares, compared to its average volume of 5,627,092. The company has a market cap of $131.91 billion, a PE ratio of -46.33 and a beta of 1.48. The business has a 50 day simple moving average of $193.87 and a two-hundred day simple moving average of $208.68. The Boeing Company has a 1-year low of $171.00 and a 1-year high of $243.10.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 25th. The aircraft producer reported ($3.26) EPS for the quarter, missing analysts’ consensus estimates of ($3.21) by ($0.05). The business had revenue of $18.10 billion for the quarter, compared to analysts’ expectations of $18.01 billion. Boeing’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($6.18) EPS. Research analysts expect that The Boeing Company will post -5.6 EPS for the current fiscal 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 four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.