Concord Investment Counsel Inc. Makes New Investment in The Boeing Company (NYSE:BA)

Concord Investment Counsel Inc. acquired a new position in The Boeing Company (NYSE:BA) during the 1st quarter, HoldingsChannel reports. The fund acquired 697 shares of the aircraft producer’s stock, valued at approximately $135,000.

Other institutional investors have also recently made changes to their positions in the company. Schroder Investment Management Group grew its holdings in Boeing by 4.1% in the third quarter. Schroder Investment Management Group now owns 53,873 shares of the aircraft producer’s stock valued at $10,326,000 after purchasing an additional 2,100 shares during the period. Diversified Trust Co lifted its position in shares of Boeing by 5.2% during the 3rd quarter. Diversified Trust Co now owns 6,869 shares of the aircraft producer’s stock valued at $1,317,000 after buying an additional 340 shares in the last quarter. Silver Oak Securities Incorporated acquired a new stake in Boeing in the 3rd quarter valued at $107,000. Comerica Bank purchased a new stake in Boeing in the 3rd quarter worth $25,964,000. Finally, Public Sector Pension Investment Board raised its position in Boeing by 12.2% during the third quarter. Public Sector Pension Investment Board now owns 60,752 shares of the aircraft producer’s stock worth $11,645,000 after acquiring an additional 6,602 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BA has been the topic of several research analyst reports. Bank of America lifted their target price on shares of Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, June 13th. UBS Group cut their price objective on Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, June 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $225.00 target price on shares of Boeing in a research report on Tuesday, June 25th. JPMorgan Chase & Co. dropped their price target on Boeing from $230.00 to $210.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Finally, Morgan Stanley decreased their price objective on Boeing from $235.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boeing has an average rating of “Moderate Buy” and an average target price of $220.89.

Boeing Trading Down 0.6 %

Boeing stock traded down $1.18 during trading on Friday, hitting $182.73. The company had a trading volume of 2,962,924 shares, compared to its average volume of 8,312,117. The stock has a market cap of $112.17 billion, a price-to-earnings ratio of -51.05 and a beta of 1.56. The Boeing Company has a 1-year low of $159.70 and a 1-year high of $267.54. The company’s 50 day simple moving average is $181.15 and its 200-day simple moving average is $194.16.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share (EPS) for the quarter, topping the consensus estimate 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, analysts forecast that The Boeing Company will post -1.72 earnings per share for the current fiscal 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.