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

Pitti Group Wealth Management LLC lowered its stake in shares of The Boeing Company (NYSE:BA) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,750 shares of the aircraft producer’s stock after selling 197 shares during the quarter. Boeing comprises 2.2% of Pitti Group Wealth Management LLC’s holdings, making the stock its 12th largest holding. Pitti Group Wealth Management LLC’s holdings in Boeing were worth $2,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. CNB Bank boosted its holdings in Boeing by 106.5% in the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after acquiring an additional 66 shares in the last quarter. Evolution Advisers Inc. acquired a new stake in Boeing in the fourth quarter worth about $28,000. Lowe Wealth Advisors LLC acquired a new stake in Boeing in the third quarter worth about $43,000. Naples Money Management LLC acquired a new stake in Boeing in the fourth quarter worth about $44,000. Finally, Blue Bell Private Wealth Management LLC boosted its holdings in Boeing by 66.2% in the third quarter. Blue Bell Private Wealth Management LLC now owns 236 shares of the aircraft producer’s stock worth $45,000 after acquiring an additional 94 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on BA. Stifel Nicolaus lowered their price target on Boeing from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. UBS Group lowered their price target on Boeing from $275.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, March 21st. The Goldman Sachs Group lowered their price target on Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a report on Monday, March 25th. Benchmark restated a “buy” rating and issued a $250.00 price objective on shares of Boeing in a research note on Tuesday, March 26th. Finally, Susquehanna reduced their price objective on Boeing from $265.00 to $230.00 and set a “positive” rating for the company in a research note on Thursday, March 21st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $222.41.

Boeing Stock Up 0.2 %

Shares of Boeing stock traded up $0.41 on Friday, reaching $167.22. The company’s stock had a trading volume of 7,208,103 shares, compared to its average volume of 7,379,195. The company has a market capitalization of $102.65 billion, a P/E ratio of -47.10, a PEG ratio of 140.43 and a beta of 1.52. The Boeing Company has a 52-week low of $159.70 and a 52-week high of $267.54. The stock has a 50-day moving average price of $186.53 and a 200-day moving average price of $206.55.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, beating 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 quarter last year, the firm earned ($1.75) earnings per share. Sell-side analysts forecast that The Boeing Company will post -0.3 earnings per share 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.