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% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,750 shares of the aircraft producer’s stock after selling 197 shares during the quarter. Boeing makes up approximately 2.2% of Pitti Group Wealth Management LLC’s portfolio, 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 SEC filing.

Several other institutional investors also recently added to or reduced their stakes in BA. Strategic Blueprint LLC boosted its position in Boeing by 8.7% during the fourth quarter. Strategic Blueprint LLC now owns 3,295 shares of the aircraft producer’s stock worth $859,000 after purchasing an additional 264 shares during the period. Morse Asset Management Inc boosted its position in Boeing by 65.0% during the third quarter. Morse Asset Management Inc now owns 7,999 shares of the aircraft producer’s stock worth $1,533,000 after purchasing an additional 3,152 shares during the period. Peregrine Asset Advisers Inc. boosted its position in shares of Boeing by 1,335.3% in the third quarter. Peregrine Asset Advisers Inc. now owns 36,443 shares of the aircraft producer’s stock valued at $6,985,000 after acquiring an additional 33,904 shares during the period. California Public Employees Retirement System boosted its position in shares of Boeing by 2.0% in the third quarter. California Public Employees Retirement System now owns 1,037,044 shares of the aircraft producer’s stock valued at $198,781,000 after acquiring an additional 19,847 shares during the period. Finally, J.W. Cole Advisors Inc. boosted its position in shares of Boeing by 5.8% in the fourth quarter. J.W. Cole Advisors Inc. now owns 29,133 shares of the aircraft producer’s stock valued at $7,594,000 after acquiring an additional 1,596 shares during the period. Institutional investors own 64.82% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on BA shares. Sanford C. Bernstein cut their price objective on shares of Boeing from $272.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, April 8th. Stifel Nicolaus lowered their target price 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. UBS Group lowered their target price 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. Northcoast Research downgraded shares of Boeing from a “neutral” rating to a “sell” rating and set a $140.00 target price on the stock. in a research note on Wednesday, April 17th. Finally, Bank of America lowered their target price on shares of Boeing from $210.00 to $190.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $222.41.

Boeing Price Performance

NYSE:BA traded up $0.41 during trading hours on Friday, hitting $167.22. The company had a trading volume of 7,208,103 shares, compared to its average volume of 7,379,195. The Boeing Company has a 52 week low of $159.70 and a 52 week high of $267.54. The company has a market capitalization of $102.65 billion, a PE ratio of -47.10, a price-to-earnings-growth ratio of 140.43 and a beta of 1.52. 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 announced its earnings results 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 for the quarter, compared to the consensus estimate of $21.14 billion. During the same quarter last year, the firm posted ($1.75) EPS. The business’s quarterly revenue was up 10.2% on a year-over-year basis. Analysts anticipate that The Boeing Company will post -0.3 EPS for the current fiscal 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.