Transcend Capital Advisors LLC Boosts Stock Holdings in The Boeing Company (NYSE:BA)

Transcend Capital Advisors LLC raised its holdings in shares of The Boeing Company (NYSE:BA) by 8.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,078 shares of the aircraft producer’s stock after buying an additional 609 shares during the period. Transcend Capital Advisors LLC’s holdings in Boeing were worth $2,106,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Opinicus Capital Inc. purchased a new stake in Boeing during the fourth quarter valued at about $320,000. Consolidated Planning Corp boosted its position in Boeing by 2.5% during the fourth quarter. Consolidated Planning Corp now owns 27,882 shares of the aircraft producer’s stock valued at $7,268,000 after buying an additional 693 shares during the period. Intact Investment Management Inc. boosted its position in Boeing by 245.0% during the fourth quarter. Intact Investment Management Inc. now owns 3,450 shares of the aircraft producer’s stock valued at $899,000 after buying an additional 2,450 shares during the period. Russell Investments Group Ltd. boosted its position in Boeing by 18.3% during the fourth quarter. Russell Investments Group Ltd. now owns 80,590 shares of the aircraft producer’s stock valued at $21,005,000 after buying an additional 12,493 shares during the period. Finally, Brio Consultants LLC purchased a new stake in Boeing during the fourth quarter valued at about $207,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Citigroup dropped their target price on shares of Boeing from $252.00 to $224.00 and set a “buy” rating for the company in a report on Thursday. Stifel Nicolaus dropped their target price on shares of Boeing from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. Sanford C. Bernstein dropped their target price on shares of Boeing from $272.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, April 8th. Melius reiterated a “hold” rating on shares of Boeing in a report on Monday, April 1st. Finally, Susquehanna dropped their target price on shares of Boeing from $265.00 to $230.00 and set a “positive” rating for the company in a report on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Boeing presently has an average rating of “Moderate Buy” and an average price target of $222.41.

Boeing Stock Up 0.2 %

Shares of NYSE BA traded up $0.41 on Friday, reaching $167.22. 7,208,103 shares of the company’s stock traded hands, compared to its average volume of 7,379,195. The Boeing Company has a 12 month low of $159.70 and a 12 month high of $267.54. The business’s 50 day simple moving average is $186.53 and its two-hundred day simple moving average is $206.55. The company has a market cap of $102.65 billion, a price-to-earnings ratio of -47.10, a price-to-earnings-growth ratio of 140.43 and a beta of 1.52.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the business posted ($1.75) EPS. Boeing’s revenue for the quarter was up 10.2% on a year-over-year basis. Analysts forecast that The Boeing Company will post -0.3 earnings per share 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.