Wellington Shields Capital Management LLC Sells 1,380 Shares of The Boeing Company $BA

Wellington Shields Capital Management LLC reduced its stake in The Boeing Company (NYSE:BA) by 3.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,340 shares of the aircraft producer’s stock after selling 1,380 shares during the period. Boeing makes up 1.5% of Wellington Shields Capital Management LLC’s portfolio, making the stock its 14th biggest position. Wellington Shields Capital Management LLC’s holdings in Boeing were worth $8,662,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of BA. Harbor Asset Planning Inc. bought a new position in shares of Boeing in the second quarter worth approximately $25,000. Piscataqua Savings Bank lifted its stake in shares of Boeing by 1,712.5% in the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock worth $30,000 after buying an additional 137 shares in the last quarter. Monetary Management Group Inc. lifted its stake in shares of Boeing by 33.3% in the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock worth $34,000 after buying an additional 50 shares in the last quarter. IMG Wealth Management Inc. lifted its stake in shares of Boeing by 159.4% in the second quarter. IMG Wealth Management Inc. now owns 179 shares of the aircraft producer’s stock worth $38,000 after buying an additional 110 shares in the last quarter. Finally, Keener Financial Planning LLC bought a new position in shares of Boeing in the second quarter worth approximately $41,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Up 0.6%

BA stock opened at $201.24 on Monday. The business’s 50-day moving average price is $220.17 and its 200-day moving average price is $213.16. The stock has a market cap of $152.96 billion, a P/E ratio of -14.71 and a beta of 1.47. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The company had revenue of $23.27 billion during the quarter, compared to the consensus estimate of $21.61 billion. The company’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($10.44) EPS. On average, equities research analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP David Christopher Raymond sold 3,771 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of the transaction, the executive vice president directly owned 35,873 shares in the company, valued at approximately $8,248,637.62. The trade was a 9.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mortimer J. Buckley purchased 2,200 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the acquisition, the director owned 2,200 shares in the company, valued at $497,420. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

BA has been the topic of several recent analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of Boeing in a research report on Monday, September 29th. JPMorgan Chase & Co. dropped their price objective on Boeing from $251.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday. Citigroup reaffirmed a “buy” rating on shares of Boeing in a research report on Monday, July 28th. Susquehanna reaffirmed a “positive” rating and set a $270.00 price objective on shares of Boeing in a research report on Monday, September 15th. Finally, Bank of America increased their price objective on Boeing from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $242.79.

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.