Pitti Group Wealth Management LLC Sells 197 Shares of The Boeing Company (NYSE:BA)

Pitti Group Wealth Management LLC reduced its stake in The Boeing Company (NYSE:BA) by 2.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,750 shares of the aircraft producer’s stock after selling 197 shares during the period. Boeing makes up 1.5% of Pitti Group Wealth Management LLC’s portfolio, making the stock its 19th biggest position. Pitti Group Wealth Management LLC’s holdings in Boeing were worth $1,411,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in Boeing by 1.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,198 shares of the aircraft producer’s stock worth $1,094,000 after purchasing an additional 50 shares during the period. Davis R M Inc. grew its stake in Boeing by 1.8% in the 4th quarter. Davis R M Inc. now owns 2,943 shares of the aircraft producer’s stock worth $767,000 after acquiring an additional 52 shares during the period. Chicago Partners Investment Group LLC increased its stake in shares of Boeing by 0.4% during the 4th quarter. Chicago Partners Investment Group LLC now owns 14,941 shares of the aircraft producer’s stock valued at $3,895,000 after acquiring an additional 56 shares during the last quarter. Madison Park Capital Advisors LLC raised its stake in Boeing by 4.9% during the second quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock worth $219,000 after purchasing an additional 56 shares during the period. Finally, Angeles Wealth Management LLC boosted its holdings in Boeing by 4.3% in the fourth quarter. Angeles Wealth Management LLC now owns 1,463 shares of the aircraft producer’s stock valued at $381,000 after acquiring an additional 60 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BA has been the subject of a number of research reports. Robert W. Baird decreased their price target on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. Bank of America upped their price target on shares of Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, June 13th. Sanford C. Bernstein decreased their price target on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Susquehanna restated a “positive” rating and issued a $230.00 price target on shares of Boeing in a research note on Wednesday, August 14th. Finally, Wells Fargo & Company reiterated an “underweight” rating and set a $119.00 price objective (down previously from $185.00) on shares of Boeing in a research note on Tuesday, September 3rd. Three analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and a consensus target price of $211.29.

Boeing Stock Performance

NYSE BA opened at $155.54 on Tuesday. The Boeing Company has a 52-week low of $154.02 and a 52-week high of $267.54. The firm has a 50-day moving average of $173.49 and a 200-day moving average of $178.70. The stock has a market cap of $95.48 billion, a PE ratio of -43.81 and a beta of 1.57.

Boeing (NYSE:BA) last released its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business’s quarterly revenue 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, analysts predict that The Boeing Company will post -4.26 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.