The Boeing Company (NYSE:BA) Shares Sold by Pinnacle Wealth Management Group Inc.

Pinnacle Wealth Management Group Inc. cut its holdings in The Boeing Company (NYSE:BA) by 12.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,866 shares of the aircraft producer’s stock after selling 545 shares during the quarter. Pinnacle Wealth Management Group Inc.’s holdings in Boeing were worth $684,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. RPg Family Wealth Advisory LLC acquired a new stake in shares of Boeing during the third quarter valued at $28,000. Cedar Wealth Management LLC purchased a new stake in shares of Boeing during the 3rd quarter valued at $30,000. Kiely Wealth Advisory Group Inc. acquired a new stake in Boeing during the second quarter worth about $33,000. Planning Capital Management Corp raised its holdings in Boeing by 741.0% in the third quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock valued at $50,000 after buying an additional 289 shares during the period. Finally, Truvestments Capital LLC acquired a new position in shares of Boeing during the 3rd quarter valued at $58,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Down 0.8 %

NYSE:BA opened at $170.56 on Tuesday. The business’s fifty day moving average price is $161.70 and its 200 day moving average price is $165.07. The firm has a market capitalization of $105.44 billion, a price-to-earnings ratio of -13.22 and a beta of 1.52. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $217.59.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same period last year, the firm posted ($3.26) earnings per share. The company’s revenue was down 1.5% on a year-over-year basis. Equities analysts forecast that The Boeing Company will post -16.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BA. Citigroup decreased their price target on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Wells Fargo & Company cut their price objective on Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Boeing in a report on Wednesday, October 30th. Susquehanna lowered their price objective on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Finally, Jefferies Financial Group dropped their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $192.21.

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.