Elite Wealth Management Inc. Cuts Stock Holdings in The Boeing Company (NYSE:BA)

Elite Wealth Management Inc. cut its position in shares of The Boeing Company (NYSE:BA) by 16.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,007 shares of the aircraft producer’s stock after selling 600 shares during the quarter. Boeing makes up about 0.0% of Elite Wealth Management Inc.’s holdings, making the stock its 29th biggest position. Elite Wealth Management Inc.’s holdings in Boeing were worth $547,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Hollencrest Capital Management grew its position in shares of Boeing by 7.5% during the 2nd quarter. Hollencrest Capital Management now owns 1,441 shares of the aircraft producer’s stock valued at $262,000 after acquiring an additional 100 shares during the period. Bridges Investment Management Inc. grew its position in shares of Boeing by 30.7% during the 2nd quarter. Bridges Investment Management Inc. now owns 19,391 shares of the aircraft producer’s stock valued at $3,529,000 after purchasing an additional 4,554 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Boeing by 1.5% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 21,454 shares of the aircraft producer’s stock valued at $3,905,000 after acquiring an additional 317 shares in the last quarter. Ieq Capital LLC raised its stake in Boeing by 11.3% in the second quarter. Ieq Capital LLC now owns 29,154 shares of the aircraft producer’s stock valued at $5,306,000 after purchasing an additional 2,956 shares in the last quarter. Finally, Brighton Jones LLC increased its holdings in shares of Boeing by 8.0% in the 2nd quarter. Brighton Jones LLC now owns 22,102 shares of the aircraft producer’s stock worth $4,023,000 after buying an additional 1,631 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wells Fargo & Company reaffirmed an “underweight” rating and set a $119.00 price objective (down from $185.00) on shares of Boeing in a research note on Tuesday, September 3rd. Susquehanna restated a “positive” rating and set a $230.00 price target on shares of Boeing in a research report on Wednesday, August 14th. Sanford C. Bernstein lowered their price objective on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Stifel Nicolaus raised their target price on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Baird R W upgraded Boeing to a “strong-buy” rating in a research note on Monday, June 3rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $211.29.

Boeing Trading Down 0.4 %

Shares of BA stock opened at $154.55 on Friday. The Boeing Company has a 12 month low of $154.02 and a 12 month high of $267.54. The stock has a market cap of $94.88 billion, a P/E ratio of -43.54 and a beta of 1.57. The company has a 50 day simple moving average of $171.80 and a two-hundred day simple moving average of $178.07.

Boeing (NYSE:BA) last released its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same quarter last year, the firm posted ($0.82) EPS. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year. As a group, equities analysts forecast that The Boeing Company will post -4.26 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.