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

Procyon Advisors LLC reduced its position in shares of The Boeing Company (NYSE:BA - Free Report) by 17.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,058 shares of the aircraft producer's stock after selling 9,512 shares during the period. Procyon Advisors LLC's holdings in Boeing were worth $7,975,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Newport Trust Company LLC increased its stake in Boeing by 1.2% during the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer's stock worth $5,758,830,000 after buying an additional 388,633 shares in the last quarter. State Street Corp grew its position in shares of Boeing by 2.3% in the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer's stock valued at $4,223,397,000 after purchasing an additional 636,594 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Boeing by 2.8% in the third quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer's stock valued at $1,774,705,000 after purchasing an additional 320,415 shares in the last quarter. Jennison Associates LLC grew its position in shares of Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer's stock valued at $1,018,775,000 after purchasing an additional 602,143 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Boeing by 6.0% in the third quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer's stock valued at $739,957,000 after purchasing an additional 277,350 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BA has been the subject of a number of analyst reports. Jefferies Financial Group dropped their price target on Boeing from $270.00 to $240.00 and set a "buy" rating for the company in a research report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft upped their price target on Boeing from $184.00 to $215.00 and gave the company a "buy" rating in a research report on Thursday, January 2nd. DZ Bank lowered Boeing from a "buy" rating to a "hold" rating and set a $152.00 price target for the company. in a research report on Tuesday, October 15th. JPMorgan Chase & Co. decreased their price objective on Boeing from $195.00 to $190.00 and set an "overweight" rating on the stock in a report on Monday, November 25th. Finally, Citigroup decreased their price objective on Boeing from $224.00 to $209.00 and set a "buy" rating on the stock in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $192.21.

Boeing Stock Up 1.3 %

Shares of BA traded up $2.21 during mid-day trading on Friday, reaching $171.14. 9,532,604 shares of the company's stock were exchanged, compared to its average volume of 8,142,911. The company has a 50-day simple moving average of $162.76 and a two-hundred day simple moving average of $165.00. The Boeing Company has a 52-week low of $137.03 and a 52-week high of $217.59. The company has a market cap of $105.80 billion, a price-to-earnings ratio of -13.27 and a beta of 1.52.

Boeing (NYSE:BA - Get Free Report) last released 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 business had revenue of $17.84 billion for the quarter, compared to analysts' expectations of $17.81 billion. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($3.26) earnings per share. As a group, equities research analysts predict that The Boeing Company will post -16.43 EPS for the current fiscal 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.