Prosperity Consulting Group LLC Sells 355 Shares of The Boeing Company (NYSE:BA)

Prosperity Consulting Group LLC reduced its position in shares of The Boeing Company (NYSE:BA) by 9.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 3,344 shares of the aircraft producer’s stock after selling 355 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Boeing were worth $645,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Boeing by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 48,501,954 shares of the aircraft producer’s stock worth $12,642,519,000 after purchasing an additional 892,446 shares during the last quarter. Capital Research Global Investors raised its holdings in Boeing by 35.5% during the 4th quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after purchasing an additional 4,425,964 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Boeing by 23.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock worth $2,560,466,000 after purchasing an additional 1,884,850 shares during the last quarter. Morgan Stanley raised its holdings in Boeing by 1.1% during the 3rd quarter. Morgan Stanley now owns 8,362,267 shares of the aircraft producer’s stock worth $1,602,880,000 after purchasing an additional 91,801 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Boeing by 1.1% during the 4th quarter. Northern Trust Corp now owns 5,003,262 shares of the aircraft producer’s stock worth $1,304,150,000 after purchasing an additional 52,081 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BA has been the subject of a number of recent analyst reports. Northcoast Research cut Boeing from a “neutral” rating to a “sell” rating and set a $140.00 price target for the company. in a research note on Wednesday, April 17th. Royal Bank of Canada lowered their price target on Boeing from $225.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, April 16th. Sanford C. Bernstein lowered their price target on Boeing from $230.00 to $215.00 and set an “outperform” rating for the company in a research note on Monday, June 3rd. StockNews.com cut Boeing from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. Finally, Melius reaffirmed a “hold” rating on shares of Boeing in a research note on Monday, April 1st. Two analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Boeing has a consensus rating of “Moderate Buy” and an average target price of $220.89.

Boeing Price Performance

NYSE:BA traded up $0.52 during trading hours on Friday, reaching $184.83. 3,290,380 shares of the stock were exchanged, compared to its average volume of 5,203,792. The Boeing Company has a twelve month low of $159.70 and a twelve month high of $267.54. The firm has a 50 day moving average of $180.24 and a 200 day moving average of $196.31. The stock has a market cap of $113.46 billion, a PE ratio of -52.06 and a beta of 1.56.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, April 24th. The aircraft producer reported ($1.13) EPS for the quarter, beating the consensus estimate of ($1.43) by $0.30. The company had revenue of $16.57 billion during the quarter, compared to analyst estimates of $17.69 billion. Equities research analysts anticipate that The Boeing Company will post -1.67 earnings per share for the current 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.