United Technologies (UTX) Market Valuation Rose While Connors Investor Services Increased Its Stake; Boeing Co (BA) Share Price Rose While Covington Capital Management Has Decreased by $981,456 Its Stake

February 23, 2018 - By Marguerite Chambers

Covington Capital Management decreased its stake in Boeing Co (BA) by 4.37% based on its latest 2017Q3 regulatory filing with the SEC. Covington Capital Management sold 3,864 shares as the company’s stock rose 4.66% with the market. The institutional investor held 84,489 shares of the aerospace company at the end of 2017Q3, valued at $21.48M, down from 88,353 at the end of the previous reported quarter. Covington Capital Management who had been investing in Boeing Co for a number of months, seems to be less bullish one the $208.26 billion market cap company. The stock decreased 0.57% or $2.04 during the last trading session, reaching $353.89. About 1.69 million shares traded. The Boeing Company (NYSE:BA) has risen 41.13% since February 23, 2017 and is uptrending. It has outperformed by 24.43% the S&P500.

Connors Investor Services Inc increased its stake in United Technologies (UTX) by 18.96% based on its latest 2017Q3 regulatory filing with the SEC. Connors Investor Services Inc bought 15,103 shares as the company’s stock rose 8.03% with the market. The institutional investor held 94,767 shares of the aerospace company at the end of 2017Q3, valued at $11.00 million, up from 79,664 at the end of the previous reported quarter. Connors Investor Services Inc who had been investing in United Technologies for a number of months, seems to be bullish on the $105.32 billion market cap company. The stock decreased 1.41% or $1.89 during the last trading session, reaching $131.69. About 2.53 million shares traded. United Technologies Corporation (NYSE:UTX) has risen 22.99% since February 23, 2017 and is uptrending. It has outperformed by 6.29% the S&P500.

Analysts await The Boeing Company (NYSE:BA) to report earnings on April, 25. They expect $2.73 earnings per share, up 35.82% or $0.72 from last year’s $2.01 per share. BA’s profit will be $1.61 billion for 32.41 P/E if the $2.73 EPS becomes a reality. After $4.80 actual earnings per share reported by The Boeing Company for the previous quarter, Wall Street now forecasts -43.13% negative EPS growth.

Among 25 analysts covering Boeing (NYSE:BA), 17 have Buy rating, 1 Sell and 7 Hold. Therefore 68% are positive. Boeing had 103 analyst reports since August 26, 2015 according to SRatingsIntel. The stock has “Buy” rating by Credit Suisse on Thursday, February 1. On Monday, November 2 the stock rating was downgraded by Standpoint Research to “Hold”. The firm has “Neutral” rating given on Friday, February 12 by JP Morgan. RBC Capital Markets maintained The Boeing Company (NYSE:BA) rating on Wednesday, January 31. RBC Capital Markets has “Hold” rating and $378.0 target. The stock of The Boeing Company (NYSE:BA) earned “Underperform” rating by RBC Capital Markets on Thursday, April 27. The rating was maintained by Robert W. Baird on Thursday, July 27 with “Buy”. The rating was downgraded by Wells Fargo on Friday, December 18 to “Market Perform”. The stock has “Sector Perform” rating by RBC Capital Markets on Friday, February 12. Berenberg initiated the stock with “Buy” rating in Wednesday, March 29 report. The firm earned “Buy” rating on Wednesday, August 26 by Standpoint Research.

Since February 8, 2018, it had 0 buys, and 1 sale for $12.17 million activity.

Investors sentiment decreased to 0.81 in 2017 Q3. Its down 0.05, from 0.86 in 2017Q2. It is negative, as 50 investors sold BA shares while 609 reduced holdings. 165 funds opened positions while 367 raised stakes. 411.79 million shares or 1.95% less from 419.99 million shares in 2017Q2 were reported. Commercial Bank Of The Ozarks owns 4,340 shares or 0.45% of their US portfolio. Ballentine Ptnrs Limited Liability Company holds 0.04% or 2,658 shares. Cobblestone Capital Advsr Ltd Ny holds 0.06% of its portfolio in The Boeing Company (NYSE:BA) for 1,982 shares. Brown Advisory Secs Ltd Com has 4,192 shares for 0.23% of their portfolio. Joel Isaacson & Ltd Llc reported 3,991 shares or 0.19% of all its holdings. Voloridge Mngmt Limited Company invested in 291,403 shares. Pettyjohn Wood & White Incorporated has 16,737 shares for 1.58% of their portfolio. Nomura Asset Management Co Ltd accumulated 193,318 shares. Copeland Capital Limited Liability Company holds 0.52% or 30,093 shares in its portfolio. Renaissance Investment Gru Inc Limited Liability Company accumulated 32,800 shares. Alpha Cubed Investments Limited Liability holds 0.29% of its portfolio in The Boeing Company (NYSE:BA) for 7,690 shares. Regal Advsrs Llc has 2,260 shares for 0.13% of their portfolio. Compton Capital Mngmt Ri reported 0.81% of its portfolio in The Boeing Company (NYSE:BA). Oakbrook Invs Ltd Liability holds 11,618 shares or 0.19% of its portfolio. Manufacturers Life The holds 0.19% or 627,787 shares in its portfolio.

Covington Capital Management, which manages about $1.97B and $1.51B US Long portfolio, upped its stake in Sjw Group (NYSE:SJW) by 1.85 million shares to 1.86 million shares, valued at $105.47 million in 2017Q3, according to the filing. It also increased its holding in Time Warner Inc (NYSE:TWX) by 8,731 shares in the quarter, for a total of 116,229 shares, and has risen its stake in Vanguard Tax Managed Intl Fd (VEA).

Since December 13, 2017, it had 0 insider purchases, and 3 insider sales for $734,561 activity. $546,600 worth of United Technologies Corporation (NYSE:UTX) shares were sold by Amato Elizabeth B.

Connors Investor Services Inc, which manages about $522.13 million and $662.99 million US Long portfolio, decreased its stake in Nutrisystem Inc (NASDAQ:NTRI) by 14,667 shares to 38,183 shares, valued at $2.13 million in 2017Q3, according to the filing. It also reduced its holding in Abbott Laboratories (NYSE:ABT) by 10,630 shares in the quarter, leaving it with 194,860 shares, and cut its stake in Lending Tree Inc (NASDAQ:TREE).

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