Phoenix Wealth Advisors Invests $249,000 in The Boeing Company (NYSE:BA)

Phoenix Wealth Advisors bought a new position in The Boeing Company (NYSE:BA) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 988 shares of the aircraft producer’s stock, valued at approximately $249,000.

Other hedge funds have also modified their holdings of the company. CNB Bank grew its position in Boeing by 106.5% during the 3rd quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after acquiring an additional 66 shares during the last quarter. True Wealth Design LLC bought a new position in Boeing in the 4th quarter valued at $33,000. M&R Capital Management Inc. boosted its position in Boeing by 35.0% in the 4th quarter. M&R Capital Management Inc. now owns 193 shares of the aircraft producer’s stock valued at $50,000 after buying an additional 50 shares during the last quarter. Keener Financial Planning LLC bought a new position in Boeing in the 4th quarter valued at $52,000. Finally, Fortis Capital Advisors LLC boosted its position in Boeing by 100.0% in the 1st quarter. Fortis Capital Advisors LLC now owns 200 shares of the aircraft producer’s stock valued at $42,000 after buying an additional 100 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Price Performance

NYSE:BA traded up $2.73 during mid-day trading on Wednesday, reaching $170.55. The stock had a trading volume of 7,986,725 shares, compared to its average volume of 7,265,883. The stock has a 50-day simple moving average of $192.69 and a two-hundred day simple moving average of $207.80. The Boeing Company has a 12 month low of $167.53 and a 12 month high of $267.54. The stock has a market capitalization of $104.06 billion, a PE ratio of -46.34, a P/E/G ratio of 114.53 and a beta of 1.52.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.25. The business had revenue of $22.02 billion for the quarter, compared to the consensus estimate of $21.14 billion. During the same quarter in the prior year, the company earned ($1.75) earnings per share. Boeing’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities analysts expect that The Boeing Company will post 0.37 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. decreased their price objective on Boeing from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Edward Jones cut Boeing from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Stifel Nicolaus decreased their price objective on Boeing from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Royal Bank of Canada decreased their price objective on Boeing from $225.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Bank of America decreased their price objective on Boeing from $210.00 to $190.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $233.88.

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.