Hollencrest Capital Management Boosts Holdings in The Boeing Company (NYSE:BA)

Hollencrest Capital Management grew its position in shares of The Boeing Company (NYSE:BA) by 7.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,441 shares of the aircraft producer’s stock after buying an additional 100 shares during the quarter. Hollencrest Capital Management’s holdings in Boeing were worth $262,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in BA. Brio Consultants LLC acquired a new stake in Boeing in the fourth quarter valued at about $207,000. Gryphon Financial Partners LLC acquired a new position in Boeing during the fourth quarter worth $258,000. Franklin Resources Inc. grew its holdings in Boeing by 3.6% during the fourth quarter. Franklin Resources Inc. now owns 38,330 shares of the aircraft producer’s stock worth $9,991,000 after acquiring an additional 1,325 shares during the period. InterOcean Capital Group LLC raised its position in Boeing by 3.7% in the fourth quarter. InterOcean Capital Group LLC now owns 5,379 shares of the aircraft producer’s stock worth $1,402,000 after acquiring an additional 194 shares in the last quarter. Finally, Tidemark LLC purchased a new stake in shares of Boeing during the 4th quarter worth $100,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on BA. Baird R W raised shares of Boeing to a “strong-buy” rating in a report on Monday, June 3rd. Stifel Nicolaus lifted their price objective on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. UBS Group lowered their target price on Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, June 7th. Robert W. Baird decreased their price objective on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a research report on Monday, June 3rd. Finally, Sanford C. Bernstein dropped their target price on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

Boeing Trading Down 0.4 %

NYSE BA opened at $154.55 on Friday. The company has a market capitalization of $94.88 billion, a PE ratio of -43.54 and a beta of 1.57. The business’s 50-day moving average price is $171.80 and its 200 day moving average price is $178.07. The Boeing Company has a twelve month low of $154.02 and a twelve month high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $17.35 billion. During the same quarter in the prior year, the firm posted ($0.82) EPS. Boeing’s revenue for the quarter was down 14.6% on a year-over-year basis. Equities analysts predict that The Boeing Company will post -4.26 EPS for the current year.

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.