Phoenix Wealth Advisors Acquires New Stake in The Boeing Company (NYSE:BA)

Phoenix Wealth Advisors acquired a new stake in shares of The Boeing Company (NYSE:BA) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 988 shares of the aircraft producer’s stock, valued at approximately $249,000.

Several other large investors also recently added to or reduced their stakes in the business. Scissortail Wealth Management LLC bought a new stake in Boeing during the fourth quarter worth about $814,000. Tyche Wealth Partners LLC purchased a new position in shares of Boeing in the fourth quarter worth about $580,000. Avior Wealth Management LLC increased its holdings in shares of Boeing by 5.3% in the fourth quarter. Avior Wealth Management LLC now owns 20,569 shares of the aircraft producer’s stock worth $5,362,000 after buying an additional 1,030 shares during the period. Mathes Company Inc. increased its holdings in shares of Boeing by 471.2% in the fourth quarter. Mathes Company Inc. now owns 15,644 shares of the aircraft producer’s stock worth $4,078,000 after buying an additional 12,905 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Boeing by 3.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 105,557 shares of the aircraft producer’s stock worth $27,514,000 after buying an additional 3,797 shares during the period. Institutional investors own 64.82% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on BA shares. Northcoast Research downgraded Boeing from a “buy” rating to a “neutral” rating in a report on Friday, February 23rd. Citigroup reduced their price target on Boeing from $263.00 to $252.00 and set a “buy” rating on the stock in a report on Thursday, March 28th. Morgan Stanley reduced their price target on Boeing from $235.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 10th. Melius Research restated a “hold” rating on shares of Boeing in a report on Monday, April 1st. Finally, Susquehanna reduced their price target on Boeing from $265.00 to $230.00 and set a “positive” rating on the stock in a report on Thursday, March 21st. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $233.88.

Boeing Stock Performance

Shares of BA traded up $2.73 during mid-day trading on Wednesday, reaching $170.55. The company had a trading volume of 7,986,725 shares, compared to its average volume of 7,265,883. The company has a market capitalization of $104.06 billion, a price-to-earnings ratio of -46.34, a price-to-earnings-growth ratio of 114.53 and a beta of 1.52. The Boeing Company has a 52 week low of $167.53 and a 52 week high of $267.54. The firm has a 50-day moving average price of $192.69 and a 200 day moving average price of $207.80.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (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 the consensus estimate of $21.14 billion. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company posted ($1.75) earnings per share. As a group, research analysts forecast that The Boeing Company will post 0.37 earnings per share 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.