Wellington Shields & Co. LLC Increases Stock Position in The Boeing Company (NYSE:BA)

Key Points

• Wellington Shields & Co. LLC increased its holdings in The Boeing Company by 23.1%, acquiring an additional 1,500 shares for a total of 8,006 shares valued at approximately $1.365 million.
• In the 1st quarter, several institutional investors significantly boosted their stakes in Boeing, with American National Bank & Trust growing its investment by 474.1%.
• Boeing reported (1.24) EPS for the last quarter, missing estimates, but achieved a revenue of $22.75 billion, surpassing analyst expectations by $2.62 billion.

Wellington Shields & Co. LLC lifted its position in The Boeing Company (NYSE:BA - Free Report) by 23.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,006 shares of the aircraft producer's stock after purchasing an additional 1,500 shares during the quarter. Wellington Shields & Co. LLC's holdings in Boeing were worth $1,365,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. American National Bank & Trust increased its position in shares of Boeing by 474.1% during the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock worth $26,000 after purchasing an additional 128 shares during the last quarter. REAP Financial Group LLC boosted its stake in Boeing by 60.2% during the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock worth $31,000 after buying an additional 65 shares during the period. Dogwood Wealth Management LLC increased its position in shares of Boeing by 167.2% during the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock valued at $32,000 after acquiring an additional 112 shares during the last quarter. Solstein Capital LLC acquired a new stake in shares of Boeing during the fourth quarter valued at about $33,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Boeing in the 4th quarter valued at approximately $33,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Boeing

In other Boeing news, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total value of $650,198.35. Following the transaction, the executive vice president directly owned 20,513 shares in the company, valued at approximately $4,161,472.31. This trade represents a 13.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Brendan J. Nelson sold 640 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the completion of the transaction, the senior vice president directly owned 13,258 shares in the company, valued at approximately $2,734,860.24. The trade was a 4.60% decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Boeing Trading Down 1.1%

NYSE:BA traded down $2.50 during midday trading on Friday, hitting $219.34. 1,998,398 shares of the company were exchanged, compared to its average volume of 8,577,467. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69. The company has a market capitalization of $165.86 billion, a PE ratio of -13.27 and a beta of 1.41. The company has a fifty day simple moving average of $214.84 and a 200 day simple moving average of $188.30.

Boeing (NYSE:BA - Get Free Report) last posted its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The firm had revenue of $22.75 billion during the quarter, compared to analyst estimates of $20.13 billion. The business's quarterly revenue was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($2.90) EPS. As a group, equities research analysts expect that The Boeing Company will post -2.58 EPS for the current year.

Wall Street Analyst Weigh In

BA has been the subject of a number of research analyst reports. Royal Bank Of Canada restated an "outperform" rating and set a $250.00 target price on shares of Boeing in a report on Wednesday. Redburn Atlantic raised shares of Boeing from a "hold" rating to a "strong-buy" rating and raised their price objective for the company from $180.00 to $275.00 in a research note on Friday, June 27th. Bank of America lifted their price objective on shares of Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a report on Friday. KGI Securities upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Finally, Morgan Stanley reissued an "equal weight" rating on shares of Boeing in a research report on Monday. Three analysts have rated the stock with a sell rating, three have given a hold rating, eighteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $229.18.

About Boeing

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.