Procyon Advisors LLC Acquires 10,615 Shares of The Boeing Company (NYSE:BA)

Procyon Advisors LLC boosted its position in The Boeing Company (NYSE:BA) by 30.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,979 shares of the aircraft producer’s stock after purchasing an additional 10,615 shares during the period. Procyon Advisors LLC’s holdings in Boeing were worth $8,680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Boeing during the fourth quarter valued at approximately $26,000. Evolution Advisers Inc. bought a new stake in shares of Boeing during the fourth quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Boeing during the fourth quarter valued at approximately $28,000. Vima LLC purchased a new position in Boeing during the fourth quarter valued at approximately $34,000. Finally, Accent Capital Management LLC purchased a new position in Boeing during the fourth quarter valued at approximately $39,000. Institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

BA has been the topic of several research reports. Robert W. Baird cut their price objective on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, June 3rd. Melius Research reissued a “hold” rating on shares of Boeing in a report on Monday, April 1st. StockNews.com downgraded shares of Boeing from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. Sanford C. Bernstein decreased their price objective on shares of Boeing from $230.00 to $215.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. Finally, Susquehanna reiterated a “positive” rating and issued a $230.00 price objective on shares of Boeing in a research report on Wednesday, May 15th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and an average target price of $220.89.

Boeing Stock Performance

NYSE BA traded up $4.01 during trading on Thursday, reaching $182.51. The company’s stock had a trading volume of 8,192,683 shares, compared to its average volume of 8,578,545. The firm has a market cap of $112.04 billion, a price-to-earnings ratio of -51.46 and a beta of 1.55. The Boeing Company has a twelve month low of $159.70 and a twelve month high of $267.54. The business’s fifty day moving average price is $178.00 and its 200-day moving average price is $199.34.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.43) by $0.30. The firm had revenue of $16.57 billion for the quarter, compared to analyst estimates of $17.69 billion. As a group, sell-side analysts forecast that The Boeing Company will post -1.67 EPS 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.