Old North State Wealth Management LLC Raises Holdings in The Boeing Company (NYSE:BA)

Old North State Wealth Management LLC raised its position in shares of The Boeing Company (NYSE:BA) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,157 shares of the aircraft producer’s stock after acquiring an additional 400 shares during the period. Boeing makes up 2.0% of Old North State Wealth Management LLC’s portfolio, making the stock its 15th biggest position. Old North State Wealth Management LLC’s holdings in Boeing were worth $3,568,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BA. Sugar Maple Asset Management LLC acquired a new stake in Boeing during the 4th quarter worth approximately $27,000. Fiduciary Advisors Inc. acquired a new stake in Boeing in the 4th quarter valued at $28,000. RPg Family Wealth Advisory LLC purchased a new position in Boeing in the third quarter valued at about $28,000. Heck Capital Advisors LLC acquired a new position in shares of Boeing during the fourth quarter worth about $33,000. Finally, Cedar Wealth Management LLC purchased a new stake in shares of Boeing in the third quarter worth about $30,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Price Performance

Shares of BA stock opened at $176.40 on Wednesday. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $213.77. The firm has a market capitalization of $109.05 billion, a price-to-earnings ratio of -9.63 and a beta of 1.52. The business has a 50 day simple moving average of $169.95 and a 200 day simple moving average of $164.02.

Boeing (NYSE:BA) last released its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period in the prior year, the company earned ($0.47) earnings per share. On average, equities analysts anticipate that The Boeing Company will post -2.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BA shares. Citigroup decreased their price target on Boeing from $209.00 to $207.00 and set a “buy” rating for the company in a report on Friday, January 24th. DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a research note on Tuesday, October 15th. Barclays upgraded Boeing from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $190.00 to $210.00 in a report on Monday, January 6th. Benchmark reissued a “buy” rating and set a $250.00 price target on shares of Boeing in a research report on Thursday, October 24th. Finally, Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.00.

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.