Fortitude Advisory Group L.L.C. Trims Stock Position in The Boeing Company (NYSE:BA)

Fortitude Advisory Group L.L.C. lowered its position in shares of The Boeing Company (NYSE:BA) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,237 shares of the aircraft producer’s stock after selling 188 shares during the period. Boeing accounts for about 0.7% of Fortitude Advisory Group L.L.C.’s holdings, making the stock its 23rd biggest position. Fortitude Advisory Group L.L.C.’s holdings in Boeing were worth $1,104,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. CNB Bank grew its stake in Boeing by 106.5% in the 3rd 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. purchased a new position in Boeing in the 4th quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. purchased a new position in Boeing in the 4th quarter worth approximately $28,000. Naples Money Management LLC purchased a new position in Boeing in the 4th quarter worth approximately $44,000. Finally, Blue Bell Private Wealth Management LLC grew its stake in Boeing by 66.2% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 236 shares of the aircraft producer’s stock worth $45,000 after buying an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BA. Benchmark reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Boeing in a research note on Tuesday, March 26th. Northcoast Research cut shares of Boeing from a “neutral” rating to a “sell” rating and set a $140.00 price objective for the company. in a research note on Wednesday, April 17th. Edward Jones cut shares of Boeing from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Barclays cut their price objective on shares of Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a research note on Monday, April 22nd. Finally, Wells Fargo & Company cut their price objective on shares of Boeing from $225.00 to $215.00 and set an “equal weight” rating for the company in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Boeing has a consensus rating of “Hold” and an average price target of $222.41.

Boeing Trading Up 2.2 %

NYSE BA traded up $3.61 during trading on Wednesday, hitting $171.45. The company had a trading volume of 6,194,940 shares, compared to its average volume of 9,674,300. The Boeing Company has a one year low of $159.70 and a one year high of $267.54. The company has a market cap of $105.25 billion, a price-to-earnings ratio of -47.57 and a beta of 1.52. The company’s fifty day moving average is $185.21 and its 200-day moving average is $206.38.

Boeing (NYSE:BA) last released its 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 business had revenue of $22.02 billion during the quarter, compared to analysts’ expectations 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 prior year, the company earned ($1.75) earnings per share. As a group, equities analysts anticipate that The Boeing Company will post -0.29 EPS for the current year.

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.