IVC Wealth Advisors LLC Takes Position in The Boeing Company (NYSE:BA)

IVC Wealth Advisors LLC acquired a new position in The Boeing Company (NYSE:BA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,282 shares of the aircraft producer’s stock, valued at approximately $227,000.

Several other large investors also recently added to or reduced their stakes in the business. Madrona Financial Services LLC increased its position in Boeing by 4.7% in the fourth quarter. Madrona Financial Services LLC now owns 9,808 shares of the aircraft producer’s stock worth $1,736,000 after buying an additional 437 shares in the last quarter. Whalen Wealth Management Inc. bought a new position in shares of Boeing during the 4th quarter valued at approximately $815,000. Teamwork Financial Advisors LLC purchased a new stake in Boeing in the 4th quarter worth approximately $1,541,000. Raleigh Capital Management Inc. raised its stake in Boeing by 61.2% during the 4th quarter. Raleigh Capital Management Inc. now owns 366 shares of the aircraft producer’s stock worth $65,000 after acquiring an additional 139 shares during the period. Finally, Independent Wealth Network Inc. lifted its holdings in Boeing by 35.3% during the fourth quarter. Independent Wealth Network Inc. now owns 4,701 shares of the aircraft producer’s stock valued at $832,000 after purchasing an additional 1,226 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on BA. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research report on Wednesday, October 30th. Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Wells Fargo & Company cut their target price on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Citigroup dropped their price target on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Finally, Susquehanna reduced their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $192.21.

Boeing Price Performance

Shares of NYSE BA opened at $178.34 on Friday. The Boeing Company has a 1 year low of $137.03 and a 1 year high of $217.59. The firm has a 50-day simple moving average of $164.90 and a two-hundred day simple moving average of $164.53. The company has a market cap of $110.25 billion, a P/E ratio of -13.82 and a beta of 1.52.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($3.26) EPS. As a group, equities research analysts expect that The Boeing Company will post -16.36 EPS for the current 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.