The Boeing Company (NYSE:BA) Position Cut by Procyon Advisors LLC

Procyon Advisors LLC decreased its holdings in The Boeing Company (NYSE:BA) by 17.4% in the 4th quarter, HoldingsChannel reports. The firm owned 45,058 shares of the aircraft producer’s stock after selling 9,512 shares during the quarter. Procyon Advisors LLC’s holdings in Boeing were worth $7,975,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. IMS Capital Management boosted its position in shares of Boeing by 0.4% in the 2nd quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock valued at $2,759,000 after purchasing an additional 62 shares during the period. Sterneck Capital Management LLC increased its position in shares of Boeing by 2.3% in the fourth quarter. Sterneck Capital Management LLC now owns 2,992 shares of the aircraft producer’s stock worth $530,000 after acquiring an additional 66 shares in the last quarter. Peoples Financial Services CORP. raised its holdings in shares of Boeing by 0.8% during the third quarter. Peoples Financial Services CORP. now owns 8,893 shares of the aircraft producer’s stock valued at $1,352,000 after acquiring an additional 67 shares during the period. GSG Advisors LLC raised its holdings in shares of Boeing by 4.7% during the fourth quarter. GSG Advisors LLC now owns 1,490 shares of the aircraft producer’s stock worth $264,000 after acquiring an additional 67 shares in the last quarter. Finally, Altus Wealth Group LLC grew its stake in Boeing by 5.7% in the third quarter. Altus Wealth Group LLC now owns 1,325 shares of the aircraft producer’s stock valued at $201,000 after purchasing an additional 71 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BA. Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. The Goldman Sachs Group decreased their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and cut their price target for the company from $195.00 to $169.00 in a report on Wednesday, October 30th. Finally, TD Cowen lowered their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, eight 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 currently has an average rating of “Moderate Buy” and a consensus price target of $192.21.

Boeing Stock Performance

NYSE:BA opened at $168.91 on Friday. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $217.59. The firm has a fifty day simple moving average of $162.40 and a two-hundred day simple moving average of $164.98.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the previous year, the company posted ($3.26) EPS. Boeing’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts anticipate that The Boeing Company will post -16.43 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.