Estabrook Capital Management Purchases 416 Shares of The Boeing Company (NYSE:BA)

Estabrook Capital Management boosted its position in shares of The Boeing Company (NYSE:BA) by 3.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,738 shares of the aircraft producer’s stock after purchasing an additional 416 shares during the period. Estabrook Capital Management’s holdings in Boeing were worth $2,318,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BA. Vanguard Group Inc. increased its holdings in Boeing by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after purchasing an additional 1,222,816 shares in the last quarter. Newport Trust Company LLC grew its holdings in shares of Boeing by 1.2% during the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after purchasing an additional 388,633 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after buying an additional 4,425,964 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Boeing by 23.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after buying an additional 1,884,850 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Boeing by 1.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock valued at $1,386,757,000 after buying an additional 106,513 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Stock Performance

BA opened at $153.29 on Friday. The firm’s fifty day moving average is $171.21 and its two-hundred day moving average is $177.57. The firm has a market cap of $94.10 billion, a PE ratio of -43.18 and a beta of 1.57. The Boeing Company has a twelve month low of $152.60 and a twelve month high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing the consensus estimate 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. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.82) earnings per share. Equities analysts forecast that The Boeing Company will post -4.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BA. Sanford C. Bernstein reduced their target price on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Stifel Nicolaus increased their price objective on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company restated an “underweight” rating and set a $119.00 target price (down previously from $185.00) on shares of Boeing in a research report on Tuesday, September 3rd. Baird R W upgraded Boeing to a “strong-buy” rating in a report on Monday, June 3rd. Finally, UBS Group dropped their price objective on Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a report on Friday, June 7th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Boeing currently has an average rating of “Moderate Buy” and a consensus price target of $211.29.

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.