Procyon Advisors LLC Increases Stock Position in The Boeing Company (NYSE:BA)

Procyon Advisors LLC increased its holdings in The Boeing Company (NYSE:BA) by 6.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,364 shares of the aircraft producer’s stock after purchasing an additional 2,177 shares during the period. Boeing makes up about 0.8% of Procyon Advisors LLC’s investment portfolio, making the stock its 27th largest position. Procyon Advisors LLC’s holdings in Boeing were worth $8,957,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. CNB Bank boosted its stake in shares of Boeing by 106.5% during the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock valued at $25,000 after purchasing an additional 66 shares during the period. VisionPoint Advisory Group LLC bought a new position in Boeing during the 2nd quarter worth about $32,000. True Wealth Design LLC purchased a new position in Boeing during the 4th quarter valued at about $33,000. Park Place Capital Corp raised its holdings in shares of Boeing by 185.1% in the 3rd quarter. Park Place Capital Corp now owns 211 shares of the aircraft producer’s stock valued at $40,000 after purchasing an additional 137 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. purchased a new stake in shares of Boeing in the 4th quarter worth approximately $41,000. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Down 0.1 %

Shares of NYSE:BA traded down $0.20 during trading on Thursday, hitting $191.75. The stock had a trading volume of 518,854 shares, compared to its average volume of 10,353,335. The Boeing Company has a 12-month low of $176.25 and a 12-month high of $267.54. The stock has a market capitalization of $116.99 billion, a price-to-earnings ratio of -52.15, a price-to-earnings-growth ratio of 30.31 and a beta of 1.52. The stock has a 50-day simple moving average of $200.81 and a two-hundred day simple moving average of $209.96.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.25. The business had revenue of $22.02 billion during the quarter, compared to analysts’ expectations of $21.14 billion. Boeing’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.75) earnings per share. As a group, sell-side analysts forecast that The Boeing Company will post 1.55 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Susquehanna reduced their price objective on shares of Boeing from $265.00 to $230.00 and set a “positive” rating for the company in a research note on Thursday, March 21st. UBS Group reduced their price target on Boeing from $275.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday, March 21st. Benchmark reaffirmed a “buy” rating and set a $250.00 price objective on shares of Boeing in a research report on Tuesday. Stifel Nicolaus reiterated a “buy” rating and issued a $270.00 target price on shares of Boeing in a report on Monday. Finally, The Goldman Sachs Group lowered their price target on shares of Boeing from $268.00 to $257.00 and set a “buy” rating on the stock in a report on Monday. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $241.53.

Boeing Company 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.