Elkhorn Partners Limited Partnership Acquires 820 Shares of The Boeing Company (NYSE:BA)

Elkhorn Partners Limited Partnership grew its holdings in The Boeing Company (NYSE:BA) by 29.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,650 shares of the aircraft producer’s stock after purchasing an additional 820 shares during the period. Boeing makes up about 0.5% of Elkhorn Partners Limited Partnership’s holdings, making the stock its 12th biggest position. Elkhorn Partners Limited Partnership’s holdings in Boeing were worth $664,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Boeing by 2.5% during the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after acquiring an additional 1,222,816 shares in the last quarter. Capital Research Global Investors grew its stake in Boeing by 35.5% during 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 acquiring an additional 4,425,964 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Boeing by 23.7% during 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 acquiring an additional 1,884,850 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Boeing by 1.4% during 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 acquiring an additional 106,513 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Boeing by 1.1% during the fourth quarter. Northern Trust Corp now owns 5,003,262 shares of the aircraft producer’s stock valued at $1,304,150,000 after acquiring an additional 52,081 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Bank of America boosted their price target on shares of Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, June 13th. UBS Group cut their price target on shares of Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, June 7th. Robert W. Baird cut their price target on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, June 3rd. Wells Fargo & Company reissued an “underweight” rating and issued a $119.00 price target (down previously from $185.00) on shares of Boeing in a research note on Tuesday, September 3rd. Finally, Susquehanna restated a “positive” rating and issued a $230.00 price objective on shares of Boeing in a report on Wednesday, August 14th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $211.29.

Boeing Price Performance

NYSE:BA opened at $156.38 on Wednesday. The firm’s 50-day moving average price is $172.95 and its 200-day moving average price is $178.39. The company has a market capitalization of $96.00 billion, a PE ratio of -44.05 and a beta of 1.57. The Boeing Company has a 1-year low of $154.02 and a 1-year high of $267.54.

Boeing (NYSE:BA) last released its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. Boeing’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 earned ($0.82) earnings per share. Equities analysts anticipate that The Boeing Company will post -4.26 EPS for the current fiscal year.

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.