McGinn Penninger Investment Management Inc. Has $4.62 Million Holdings in The Boeing Company (NYSE:BA)

McGinn Penninger Investment Management Inc. lifted its position in shares of The Boeing Company (NYSE:BA) by 0.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,381 shares of the aircraft producer’s stock after buying an additional 150 shares during the quarter. Boeing comprises about 3.1% of McGinn Penninger Investment Management Inc.’s holdings, making the stock its 14th largest position. McGinn Penninger Investment Management Inc.’s holdings in Boeing were worth $4,620,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Gryphon Financial Partners LLC bought a new stake in shares of Boeing in the 4th quarter valued at $258,000. KBC Group NV increased its stake in Boeing by 8.2% in the fourth quarter. KBC Group NV now owns 39,196 shares of the aircraft producer’s stock valued at $10,217,000 after purchasing an additional 2,977 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Boeing by 8.0% during the 4th quarter. Jones Financial Companies Lllp now owns 3,162 shares of the aircraft producer’s stock worth $824,000 after purchasing an additional 235 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Boeing by 1.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 467,769 shares of the aircraft producer’s stock valued at $121,929,000 after buying an additional 5,820 shares during the period. Finally, CWA Asset Management Group LLC increased its position in Boeing by 14.0% in the 4th quarter. CWA Asset Management Group LLC now owns 1,876 shares of the aircraft producer’s stock valued at $489,000 after buying an additional 231 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Price Performance

NYSE:BA opened at $152.03 on Tuesday. The company has a market cap of $93.33 billion, a P/E ratio of -42.83 and a beta of 1.57. The Boeing Company has a 1 year low of $151.24 and a 1 year high of $267.54. The stock’s fifty day moving average price is $167.99 and its two-hundred day moving average price is $175.90.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The firm had revenue of $16.87 billion during the quarter, compared to analysts’ expectations of $17.35 billion. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.82) EPS. On average, analysts expect that The Boeing Company will post -4.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BA has been the topic of several recent research reports. Baird R W upgraded Boeing to a “strong-buy” rating in a report on Monday, June 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $225.00 price objective on shares of Boeing in a research note on Tuesday, June 25th. Susquehanna reaffirmed a “positive” rating and issued a $230.00 price target on shares of Boeing in a research report on Wednesday, August 14th. Sanford C. Bernstein decreased their price target on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Finally, Wells Fargo & Company restated an “underweight” rating and set a $119.00 price objective (down from $185.00) on shares of Boeing in a research note on Tuesday, September 3rd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $209.83.

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.