Prospect Financial Services LLC Has $5.08 Million Stock Position in The Boeing Company (NYSE:BA)

Prospect Financial Services LLC lifted its stake in The Boeing Company (NYSE:BA) by 19.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 33,385 shares of the aircraft producer’s stock after buying an additional 5,467 shares during the quarter. Boeing accounts for approximately 3.1% of Prospect Financial Services LLC’s holdings, making the stock its 8th largest position. Prospect Financial Services LLC’s holdings in Boeing were worth $5,076,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Virtu Financial LLC bought a new position in shares of Boeing during the 4th quarter valued at about $376,000. Park National Corp OH lifted its position in shares of Boeing by 3.6% in the first quarter. Park National Corp OH now owns 4,459 shares of the aircraft producer’s stock worth $861,000 after buying an additional 155 shares in the last quarter. Advance Capital Management Inc. boosted its stake in Boeing by 11.8% during the first quarter. Advance Capital Management Inc. now owns 1,197 shares of the aircraft producer’s stock valued at $231,000 after buying an additional 126 shares during the last quarter. CWM LLC grew its holdings in Boeing by 14.4% during the 1st quarter. CWM LLC now owns 24,739 shares of the aircraft producer’s stock valued at $4,774,000 after buying an additional 3,108 shares in the last quarter. Finally, Tompkins Financial Corp increased its stake in Boeing by 14.2% in the 1st quarter. Tompkins Financial Corp now owns 884 shares of the aircraft producer’s stock worth $171,000 after acquiring an additional 110 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

BA has been the subject of a number of recent research reports. Jefferies Financial Group cut their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. The Goldman Sachs Group dropped their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. DZ Bank lowered Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research report on Tuesday. Finally, JPMorgan Chase & Co. decreased their price objective on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research report on Monday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.00.

Boeing Stock Performance

BA stock opened at $152.45 on Wednesday. The firm has a 50-day simple moving average of $161.80 and a two-hundred day simple moving average of $173.13. The Boeing Company has a one year low of $146.02 and a one year high of $267.54. The firm has a market cap of $93.59 billion, a price-to-earnings ratio of -42.94 and a beta of 1.57.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same period last year, the business posted ($0.82) EPS. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. As a group, equities analysts predict that The Boeing Company will post -5.35 earnings per share 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.