Parisi Gray Wealth Management Raises Stake in The Boeing Company (NYSE:BA)

Parisi Gray Wealth Management lifted its stake in The Boeing Company (NYSE:BA) by 1.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,823 shares of the aircraft producer’s stock after buying an additional 68 shares during the quarter. Parisi Gray Wealth Management’s holdings in Boeing were worth $1,257,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. CNB Bank raised its stake in 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 in the last quarter. VisionPoint Advisory Group LLC bought a new position in Boeing during the second quarter valued at $32,000. True Wealth Design LLC bought a new position in Boeing during the fourth quarter valued at $33,000. Park Place Capital Corp increased its position in Boeing by 185.1% during the third quarter. Park Place Capital Corp now owns 211 shares of the aircraft producer’s stock valued at $40,000 after acquiring an additional 137 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. bought a new position in Boeing during the fourth quarter valued at $41,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

BA has been the topic of a number of analyst reports. Edward Jones cut shares of Boeing from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. JPMorgan Chase & Co. cut their price target on shares of Boeing from $270.00 to $230.00 and set an “overweight” rating on the stock in a report on Monday. Morgan Stanley restated an “equal weight” rating and issued a $235.00 price objective on shares of Boeing in a report on Monday. The Goldman Sachs Group reduced their price objective on shares of Boeing from $268.00 to $257.00 and set a “buy” rating on the stock in a report on Monday. Finally, Bank of America reduced their price objective on shares of Boeing from $225.00 to $210.00 and set a “neutral” rating on the stock in a report on Thursday, March 21st. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Boeing has a consensus rating of “Moderate Buy” and a consensus target price of $241.53.

Boeing Price Performance

BA traded down $0.07 during trading on Thursday, hitting $191.88. 476,609 shares of the stock traded hands, compared to its average volume of 10,353,335. The Boeing Company has a twelve month low of $176.25 and a twelve month high of $267.54. The company has a market cap of $117.07 billion, a price-to-earnings ratio of -52.15, a PEG ratio of 30.31 and a beta of 1.52. The business has a 50 day moving average price of $200.81 and a 200 day moving average price of $209.96.

Boeing (NYSE:BA) last issued its 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 firm had revenue of $22.02 billion during the quarter, compared to analyst estimates of $21.14 billion. During the same quarter in the prior year, the business earned ($1.75) earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities research analysts predict that The Boeing Company will post 1.55 earnings per share for the current 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.