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

Wealth Alliance decreased its position in The Boeing Company (NYSE:BA) by 7.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,701 shares of the aircraft producer’s stock after selling 140 shares during the period. Wealth Alliance’s holdings in Boeing were worth $443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CNB Bank grew its position in Boeing by 106.5% during the 3rd quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after purchasing an additional 66 shares during the period. True Wealth Design LLC acquired a new stake in Boeing during the 4th quarter worth about $33,000. M&R Capital Management Inc. grew its position in Boeing by 35.0% during the 4th quarter. M&R Capital Management Inc. now owns 193 shares of the aircraft producer’s stock worth $50,000 after purchasing an additional 50 shares during the period. Keener Financial Planning LLC acquired a new stake in Boeing during the 4th quarter worth about $52,000. Finally, Fortis Capital Advisors LLC grew its position in Boeing by 100.0% during the 1st quarter. Fortis Capital Advisors LLC now owns 200 shares of the aircraft producer’s stock worth $42,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

BA opened at $170.19 on Thursday. The company’s 50 day simple moving average is $191.86 and its two-hundred day simple moving average is $207.54. The Boeing Company has a 1-year low of $167.53 and a 1-year high of $267.54. The firm has a market capitalization of $103.84 billion, a price-to-earnings ratio of -46.25, a price-to-earnings-growth ratio of 114.53 and a beta of 1.52.

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. During the same period last year, the business earned ($1.75) earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities analysts anticipate that The Boeing Company will post 0.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BA has been the topic of several analyst reports. The Goldman Sachs Group cut their price target on Boeing from $268.00 to $257.00 and set a “buy” rating on the stock in a research report on Monday, March 25th. Melius Research restated a “hold” rating on shares of Boeing in a research report on Monday, April 1st. UBS Group dropped their target price on Boeing from $275.00 to $250.00 and set a “buy” rating on the stock in a research report on Thursday, March 21st. Northcoast Research cut Boeing from a “neutral” rating to a “sell” rating and set a $140.00 target price on the stock. in a research report on Wednesday. Finally, TD Cowen dropped their target price on Boeing from $275.00 to $230.00 and set an “outperform” rating on the stock in a research report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $229.35.

About Boeing

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.