Elite Wealth Management Inc. Boosts Stake in The Boeing Company (NYSE:BA)

Elite Wealth Management Inc. boosted its stake in shares of The Boeing Company (NYSE:BA) by 16.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,612 shares of the aircraft producer’s stock after buying an additional 505 shares during the period. Boeing accounts for about 0.1% of Elite Wealth Management Inc.’s investment portfolio, making the stock its 25th biggest holding. Elite Wealth Management Inc.’s holdings in Boeing were worth $942,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of BA. CNB Bank lifted its holdings in shares of Boeing by 106.5% during the 3rd quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock valued at $25,000 after purchasing an additional 66 shares during the last quarter. True Wealth Design LLC purchased a new stake in shares of Boeing during the 4th quarter valued at $33,000. Park Place Capital Corp raised its stake in Boeing by 185.1% in the 3rd quarter. Park Place Capital Corp now owns 211 shares of the aircraft producer’s stock worth $40,000 after acquiring an additional 137 shares during the last quarter. Industrial Alliance Investment Management Inc. acquired a new stake in Boeing during the 4th quarter worth about $41,000. Finally, Fortis Capital Advisors LLC lifted 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 acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

BA has been the subject of a number of research reports. Benchmark reaffirmed a “buy” rating and set a $250.00 price target on shares of Boeing in a research report on Tuesday, March 26th. UBS Group lowered their price target on Boeing from $275.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday, March 21st. Melius reaffirmed a “hold” rating on shares of Boeing in a research report on Monday, April 1st. Stifel Nicolaus lowered their price target on Boeing from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. lowered their price target on Boeing from $230.00 to $210.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Boeing has an average rating of “Moderate Buy” and an average price target of $233.88.

Boeing Stock Performance

Shares of Boeing stock traded up $2.73 on Wednesday, hitting $170.55. The company’s stock had a trading volume of 7,986,725 shares, compared to its average volume of 7,265,883. The Boeing Company has a 1 year low of $167.53 and a 1 year high of $267.54. The firm has a fifty day moving average price of $192.69 and a 200-day moving average price of $207.80. The company has a market capitalization of $104.06 billion, a price-to-earnings ratio of -46.34, a price-to-earnings-growth ratio of 114.53 and a beta of 1.52.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.25. The firm had revenue of $22.02 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter last year, the firm posted ($1.75) earnings per share. Boeing’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, analysts forecast that The Boeing Company will post 0.37 EPS for the current 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.