Fortitude Advisory Group L.L.C. Has $1.10 Million Stock Holdings in The Boeing Company (NYSE:BA)

Fortitude Advisory Group L.L.C. cut its stake in The Boeing Company (NYSE:BA) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,237 shares of the aircraft producer’s stock after selling 188 shares during the quarter. Boeing makes up 0.7% of Fortitude Advisory Group L.L.C.’s portfolio, making the stock its 23rd biggest holding. Fortitude Advisory Group L.L.C.’s holdings in Boeing were worth $1,104,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of BA. First Trust Direct Indexing L.P. boosted its holdings in Boeing by 12.2% in the fourth quarter. First Trust Direct Indexing L.P. now owns 11,447 shares of the aircraft producer’s stock worth $2,984,000 after purchasing an additional 1,246 shares in the last quarter. Summit Financial LLC boosted its holdings in Boeing by 12.4% in the fourth quarter. Summit Financial LLC now owns 37,095 shares of the aircraft producer’s stock worth $9,669,000 after purchasing an additional 4,086 shares in the last quarter. Great Valley Advisor Group Inc. boosted its holdings in Boeing by 14.1% in the fourth quarter. Great Valley Advisor Group Inc. now owns 28,683 shares of the aircraft producer’s stock worth $7,477,000 after purchasing an additional 3,540 shares in the last quarter. Searle & CO. boosted its holdings in Boeing by 0.9% in the fourth quarter. Searle & CO. now owns 10,963 shares of the aircraft producer’s stock worth $2,858,000 after purchasing an additional 100 shares in the last quarter. Finally, Orion Capital Management LLC boosted its holdings in Boeing by 26,625.0% in the fourth quarter. Orion Capital Management LLC now owns 2,138 shares of the aircraft producer’s stock worth $557,000 after purchasing an additional 2,130 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Stock Performance

Shares of BA stock traded up $3.61 during midday trading on Wednesday, hitting $171.45. 6,194,940 shares of the company were exchanged, compared to its average volume of 9,674,300. The firm has a market capitalization of $105.25 billion, a P/E ratio of -47.57 and a beta of 1.52. The firm’s 50 day moving average price is $185.21 and its two-hundred day moving average price is $206.38. The Boeing Company has a 52 week low of $159.70 and a 52 week high of $267.54.

Boeing (NYSE:BA) last announced its earnings results 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 company had revenue of $22.02 billion for the quarter, compared to the consensus estimate of $21.14 billion. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.75) EPS. Analysts expect that The Boeing Company will post -0.29 EPS for the current year.

Wall Street Analysts Forecast Growth

BA has been the subject of a number of recent analyst reports. Stifel Nicolaus decreased their price target on shares of Boeing from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. Citigroup decreased their price target on shares of Boeing from $252.00 to $224.00 and set a “buy” rating for the company in a report on Thursday, April 25th. TD Cowen decreased their price target on shares of Boeing from $275.00 to $230.00 and set an “outperform” rating for the company in a report on Monday, March 25th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Boeing from $240.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Morgan Stanley reduced their target price on shares of Boeing from $235.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $222.41.

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.