Lynx Investment Advisory Makes New $58,000 Investment in The Boeing Company (NYSE:BA)

Lynx Investment Advisory acquired a new position in shares of The Boeing Company (NYSE:BA) in the second quarter, HoldingsChannel reports. The fund acquired 316 shares of the aircraft producer’s stock, valued at approximately $58,000.

Other large investors have also made changes to their positions in the company. SouthState Corp increased its holdings in shares of Boeing by 2.7% during the 4th quarter. SouthState Corp now owns 1,891 shares of the aircraft producer’s stock worth $493,000 after purchasing an additional 50 shares during the period. JFS Wealth Advisors LLC raised its holdings in Boeing by 2.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 2,536 shares of the aircraft producer’s stock valued at $661,000 after acquiring an additional 50 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Boeing by 1.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 4,198 shares of the aircraft producer’s stock worth $1,094,000 after acquiring an additional 50 shares during the period. Kornitzer Capital Management Inc. KS grew its holdings in shares of Boeing by 1.7% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 3,077 shares of the aircraft producer’s stock worth $802,000 after purchasing an additional 52 shares in the last quarter. Finally, Davis R M Inc. increased its position in shares of Boeing by 1.8% during the fourth quarter. Davis R M Inc. now owns 2,943 shares of the aircraft producer’s stock valued at $767,000 after purchasing an additional 52 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Performance

NYSE:BA traded down $1.20 on Wednesday, hitting $163.84. 2,242,172 shares of the stock were exchanged, compared to its average volume of 8,169,231. The stock has a market capitalization of $100.58 billion, a price-to-earnings ratio of -46.69 and a beta of 1.56. The Boeing Company has a 52 week low of $159.70 and a 52 week high of $267.54. The company’s 50-day moving average price is $181.52 and its 200 day moving average price is $186.50.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The firm had revenue of $16.87 billion during the quarter, compared to the consensus estimate of $17.35 billion. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.82) earnings per share. As a group, equities research analysts predict that The Boeing Company will post -2.38 earnings per share for the current year.

Analyst Ratings Changes

BA has been the topic of a number of recent research reports. Susquehanna lifted their price target on shares of Boeing from $220.00 to $230.00 and gave the stock a “positive” rating in a research note on Thursday, August 1st. Northcoast Research cut shares of 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. Stifel Nicolaus upped their price objective on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Argus downgraded Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, UBS Group lowered their price target on Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, June 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $215.18.

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.