Xcel Wealth Management LLC Decreases Holdings in The Boeing Company (NYSE:BA)

Xcel Wealth Management LLC reduced its holdings in The Boeing Company (NYSE:BAFree Report) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,801 shares of the aircraft producer’s stock after selling 356 shares during the quarter. Boeing accounts for about 3.7% of Xcel Wealth Management LLC’s investment portfolio, making the stock its 6th largest position. Xcel Wealth Management LLC’s holdings in Boeing were worth $10,635,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BA. CNB Bank boosted its holdings in shares of Boeing by 106.5% in the 3rd quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after purchasing an additional 66 shares in the last quarter. VisionPoint Advisory Group LLC purchased a new position in shares of Boeing in the 2nd quarter worth about $32,000. True Wealth Design LLC purchased a new position in shares of Boeing in the 4th quarter worth about $33,000. Park Place Capital Corp boosted its holdings in shares of Boeing by 185.1% in the 3rd quarter. Park Place Capital Corp now owns 211 shares of the aircraft producer’s stock worth $40,000 after purchasing an additional 137 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. purchased a new position in shares of Boeing in the 4th quarter worth about $41,000. 64.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BA shares. Northcoast Research cut Boeing from a “buy” rating to a “neutral” rating in a report on Friday, February 23rd. UBS Group cut their price objective on Boeing from $275.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, March 21st. Citigroup dropped their target price on Boeing from $263.00 to $252.00 and set a “buy” rating for the company in a report on Thursday, March 28th. Edward Jones cut Boeing from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, JPMorgan Chase & Co. dropped their target price on Boeing from $230.00 to $210.00 and set an “overweight” rating for the company in a report on Friday. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.53.

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Boeing Price Performance

BA stock traded down $3.82 on Friday, reaching $169.55. 7,554,960 shares of the company traded hands, compared to its average volume of 9,928,786. The Boeing Company has a one year low of $169.37 and a one year high of $267.54. The company has a market cap of $103.45 billion, a P/E ratio of -46.25, a price-to-earnings-growth ratio of 58.16 and a beta of 1.52. The firm has a fifty day simple moving average of $195.03 and a 200-day simple moving average of $208.14.

Boeing (NYSE:BAGet Free Report) last posted its quarterly earnings data 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 company had revenue of $22.02 billion for the quarter, compared to the consensus estimate of $21.14 billion. During the same period last year, the business earned ($1.75) EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts forecast that The Boeing Company will post 0.75 EPS for the current year.

About Boeing

(Free Report)

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.

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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