Cary Street Partners Investment Advisory LLC Reduces Holdings in The Boeing Company (NYSE:BA)

Cary Street Partners Investment Advisory LLC lowered its stake in The Boeing Company (NYSE:BA) by 77.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,964 shares of the aircraft producer’s stock after selling 23,311 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in Boeing were worth $1,815,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. CNB Bank grew its position in shares of Boeing by 106.5% during the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after buying an additional 66 shares in the last quarter. Evolution Advisers Inc. acquired a new stake in Boeing during the 4th quarter worth approximately $28,000. Naples Money Management LLC acquired a new stake in shares of Boeing during the fourth quarter worth $44,000. Blue Bell Private Wealth Management LLC boosted its holdings in shares of Boeing by 66.2% in the third quarter. Blue Bell Private Wealth Management LLC now owns 236 shares of the aircraft producer’s stock valued at $45,000 after acquiring an additional 94 shares in the last quarter. Finally, M&R Capital Management Inc. boosted its holdings in Boeing by 35.0% in the 4th quarter. M&R Capital Management Inc. now owns 193 shares of the aircraft producer’s stock valued at $50,000 after purchasing an additional 50 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on BA. Royal Bank of Canada dropped their price objective on Boeing from $225.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, April 16th. StockNews.com downgraded Boeing from a “hold” rating to a “sell” rating in a research report on Friday. Melius Research reissued a “hold” rating on shares of Boeing in a research note on Monday, April 1st. TD Cowen lowered their price target on shares of Boeing from $275.00 to $230.00 and set an “outperform” rating for the company in a report on Monday, March 25th. Finally, Citigroup reduced their price objective on shares of Boeing from $252.00 to $224.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $222.41.

Boeing Stock Performance

Boeing stock traded down $3.53 during midday trading on Tuesday, hitting $169.96. 4,210,764 shares of the stock were exchanged, compared to its average volume of 9,663,585. The company has a 50 day moving average price of $185.92 and a two-hundred day moving average price of $206.50. The Boeing Company has a 1 year low of $159.70 and a 1 year high of $267.54.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.25. The company had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.75) EPS. On average, research analysts forecast that The Boeing Company will post -0.3 EPS for the current fiscal year.

Boeing Company 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.