Wealth Alliance Trims Position in The Boeing Company (NYSE:BA)

Wealth Alliance trimmed its holdings in The Boeing Company (NYSE:BA) by 7.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,701 shares of the aircraft producer’s stock after selling 140 shares during the quarter. Wealth Alliance’s holdings in Boeing were worth $443,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in BA. United Bank raised its holdings in shares of Boeing by 4.7% in the first quarter. United Bank now owns 5,036 shares of the aircraft producer’s stock valued at $964,000 after buying an additional 226 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Boeing by 1,064.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 850 shares of the aircraft producer’s stock valued at $163,000 after buying an additional 777 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Boeing by 68.0% in the first quarter. Panagora Asset Management Inc. now owns 7,111 shares of the aircraft producer’s stock valued at $1,362,000 after buying an additional 2,879 shares during the last quarter. Prudential PLC purchased a new stake in shares of Boeing in the first quarter valued at about $836,000. Finally, Dakota Wealth Management raised its holdings in shares of Boeing by 26.7% in the first quarter. Dakota Wealth Management now owns 2,127 shares of the aircraft producer’s stock valued at $408,000 after buying an additional 448 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BA. Stifel Nicolaus dropped their price target on shares of Boeing from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Citigroup dropped their price target on shares of Boeing from $263.00 to $252.00 and set a “buy” rating on the stock in a research note on Thursday, March 28th. UBS Group dropped their price target on shares of Boeing from $275.00 to $250.00 and set a “buy” rating on the stock in a research note on Thursday, March 21st. The Goldman Sachs Group dropped their price target on shares of Boeing from $268.00 to $257.00 and set a “buy” rating on the stock in a research note on Monday, March 25th. Finally, Benchmark reiterated a “buy” rating and set a $250.00 price target on shares of Boeing in a research note on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $229.35.

Boeing Price Performance

BA stock opened at $170.19 on Thursday. The company’s 50 day simple moving average is $191.86 and its 200-day simple moving average is $207.54. The firm has a market capitalization of $103.84 billion, a PE ratio of -46.25, a P/E/G ratio of 114.53 and a beta of 1.52. The Boeing Company has a 12 month low of $167.53 and a 12 month high of $267.54.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.25. The business had revenue of $22.02 billion during the quarter, compared to analyst estimates of $21.14 billion. During the same quarter in the prior year, the company earned ($1.75) earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Boeing Company will post 0.37 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.