The Boeing Company (NYSE:BA) Stake Lowered by Symphony Financial Ltd. Co.

Symphony Financial Ltd. Co. cut its stake in shares of The Boeing Company (NYSE:BA) by 7.5% in the 1st quarter, Holdings Channel reports. The firm owned 5,322 shares of the aircraft producer’s stock after selling 429 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Boeing were worth $1,027,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Vicus Capital grew its holdings in shares of Boeing by 15.6% during the first quarter. Vicus Capital now owns 1,144 shares of the aircraft producer’s stock valued at $221,000 after purchasing an additional 154 shares during the last quarter. Grimes & Company Inc. grew its holdings in shares of Boeing by 2.7% during the first quarter. Grimes & Company Inc. now owns 42,389 shares of the aircraft producer’s stock valued at $8,181,000 after purchasing an additional 1,119 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in shares of Boeing during the first quarter valued at approximately $310,000. MCF Advisors LLC grew its holdings in shares of Boeing by 381.1% during the first quarter. MCF Advisors LLC now owns 6,105 shares of the aircraft producer’s stock valued at $1,178,000 after purchasing an additional 4,836 shares during the last quarter. Finally, Opinicus Capital Inc. grew its holdings in Boeing by 18.3% in the 1st quarter. Opinicus Capital Inc. now owns 1,452 shares of the aircraft producer’s stock worth $280,000 after buying an additional 225 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BA. Northcoast Research lowered Boeing from a “neutral” rating to a “sell” rating and set a $140.00 price objective for the company. in a report on Wednesday, April 17th. Stifel Nicolaus reissued a “buy” rating and issued a $240.00 price objective on shares of Boeing in a report on Wednesday, May 15th. UBS Group decreased their price objective on Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a report on Friday, June 7th. Robert W. Baird decreased their price objective on Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, June 3rd. Finally, Melius Research reissued a “hold” rating on shares of Boeing in a report on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and an average target price of $220.89.

Boeing Price Performance

Shares of BA traded down $0.50 during trading hours on Friday, hitting $182.01. 5,899,850 shares of the company were exchanged, compared to its average volume of 5,801,654. The company has a market capitalization of $111.73 billion, a PE ratio of -51.27 and a beta of 1.55. The firm has a fifty day simple moving average of $178.50 and a 200-day simple moving average of $198.42. The Boeing Company has a one year low of $159.70 and a one year high of $267.54.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share for the quarter, topping the consensus estimate of ($1.43) by $0.30. The company had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $17.69 billion. Sell-side analysts expect that The Boeing Company will post -1.67 EPS for the current year.

Boeing Company 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.