Birmingham Capital Management Co. Inc. AL Sells 2,500 Shares of The Boeing Company (NYSE:BA)

Birmingham Capital Management Co. Inc. AL lessened its holdings in shares of The Boeing Company (NYSE:BA) by 26.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 6,847 shares of the aircraft producer’s stock after selling 2,500 shares during the period. Birmingham Capital Management Co. Inc. AL’s holdings in Boeing were worth $1,246,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Clearbridge Investments LLC grew its position in shares of Boeing by 6,763.5% during the 2nd quarter. Clearbridge Investments LLC now owns 287,237 shares of the aircraft producer’s stock worth $52,280,000 after buying an additional 283,052 shares during the period. McGinn Penninger Investment Management Inc. boosted its stake in Boeing by 0.6% during the 2nd quarter. McGinn Penninger Investment Management Inc. now owns 25,381 shares of the aircraft producer’s stock worth $4,620,000 after acquiring an additional 150 shares during the last quarter. Granite Bay Wealth Management LLC bought a new position in Boeing during the 2nd quarter worth approximately $561,000. IMS Capital Management grew its holdings in Boeing by 0.4% during the second quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock valued at $2,759,000 after purchasing an additional 62 shares during the period. Finally, EP Wealth Advisors LLC increased its stake in Boeing by 3.2% in the second quarter. EP Wealth Advisors LLC now owns 37,652 shares of the aircraft producer’s stock valued at $6,853,000 after purchasing an additional 1,150 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Trading Up 1.4 %

Shares of BA stock opened at $154.24 on Wednesday. The firm’s fifty day moving average price is $167.34 and its two-hundred day moving average price is $175.70. The Boeing Company has a 1 year low of $149.49 and a 1 year high of $267.54. The firm has a market capitalization of $94.69 billion, a P/E ratio of -43.45 and a beta of 1.57.

Boeing (NYSE:BA) last released its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The company had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same quarter in the prior year, the company posted ($0.82) earnings per share. The business’s revenue was down 14.6% compared to the same quarter last year. As a group, equities research analysts forecast that The Boeing Company will post -4.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BA shares. TD Cowen reduced their price target on shares of Boeing from $230.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday. Stifel Nicolaus lifted their target price on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Jefferies Financial Group decreased their target price on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Wells Fargo & Company dropped their price target on Boeing from $119.00 to $110.00 and set an “underweight” rating on the stock in a research report on Tuesday. Finally, Sanford C. Bernstein decreased their price objective on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and a consensus target price of $207.67.

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.