Elkhorn Partners Limited Partnership Has $664,000 Stake in The Boeing Company (NYSE:BA)

Elkhorn Partners Limited Partnership raised its position in shares of The Boeing Company (NYSE:BA) by 29.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,650 shares of the aircraft producer’s stock after buying an additional 820 shares during the period. Boeing comprises 0.5% of Elkhorn Partners Limited Partnership’s portfolio, making the stock its 12th biggest position. Elkhorn Partners Limited Partnership’s holdings in Boeing were worth $664,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its stake in Boeing by 1.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 4,198 shares of the aircraft producer’s stock valued at $1,094,000 after buying an additional 50 shares during the last quarter. Davis R M Inc. grew its position in shares of Boeing by 1.8% during the 4th quarter. Davis R M Inc. now owns 2,943 shares of the aircraft producer’s stock worth $767,000 after purchasing an additional 52 shares in the last quarter. Chicago Partners Investment Group LLC grew its position in shares of Boeing by 0.4% during the 4th quarter. Chicago Partners Investment Group LLC now owns 14,941 shares of the aircraft producer’s stock worth $3,895,000 after purchasing an additional 56 shares in the last quarter. Madison Park Capital Advisors LLC grew its position in shares of Boeing by 4.9% during the 2nd quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock worth $219,000 after purchasing an additional 56 shares in the last quarter. Finally, Angeles Wealth Management LLC boosted its position in shares of Boeing by 4.3% during the 4th quarter. Angeles Wealth Management LLC now owns 1,463 shares of the aircraft producer’s stock worth $381,000 after acquiring an additional 60 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

BA has been the topic of several analyst reports. Bank of America increased their price target on shares of Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, June 13th. Wells Fargo & Company reiterated an “underweight” rating and set a $119.00 price target (down previously from $185.00) on shares of Boeing in a research report on Tuesday, September 3rd. Robert W. Baird reduced their price target 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. Susquehanna reiterated a “positive” rating and set a $230.00 price target on shares of Boeing in a research report on Wednesday, August 14th. Finally, Baird R W raised shares of Boeing to a “strong-buy” rating in a research note on Monday, June 3rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

Boeing Price Performance

Shares of NYSE BA opened at $156.38 on Wednesday. The stock has a market capitalization of $96.00 billion, a P/E ratio of -44.05 and a beta of 1.57. The company has a 50-day moving average price of $172.95 and a 200-day moving average price of $178.39. The Boeing Company has a 1 year low of $154.02 and a 1 year high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings data 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 firm had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. During the same period in the prior year, the company earned ($0.82) EPS. Boeing’s revenue was down 14.6% on a year-over-year basis. As a group, equities research analysts anticipate that The Boeing Company will post -4.26 earnings per share for the current fiscal 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.