Fortis Group Advisors LLC Acquires 497 Shares of The Boeing Company (NYSE:BA)

Fortis Group Advisors LLC increased its holdings in shares of The Boeing Company (NYSE:BA) by 100.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 994 shares of the aircraft producer’s stock after acquiring an additional 497 shares during the quarter. Fortis Group Advisors LLC’s holdings in Boeing were worth $259,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Northwest Bank & Trust Co bought a new position in shares of Boeing during the 4th quarter valued at approximately $713,000. Vima LLC purchased a new position in Boeing in the fourth quarter valued at approximately $34,000. Creekmur Asset Management LLC bought a new position in Boeing during the fourth quarter valued at $130,000. Transcendent Capital Group LLC purchased a new stake in Boeing in the fourth quarter worth $65,000. Finally, Pineridge Advisors LLC bought a new stake in shares of Boeing in the fourth quarter valued at $375,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

Shares of NYSE:BA traded down $3.43 during trading on Friday, hitting $177.27. 5,105,974 shares of the company’s stock were exchanged, compared to its average volume of 5,770,378. The Boeing Company has a 52-week low of $159.70 and a 52-week high of $267.54. The business’s 50-day simple moving average is $177.44 and its 200 day simple moving average is $202.58. The company has a market cap of $108.82 billion, a price-to-earnings ratio of -49.94 and a beta of 1.55.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) EPS for the quarter, beating analysts’ consensus estimates of ($1.43) by $0.30. The firm had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $17.69 billion. On average, sell-side analysts anticipate that The Boeing Company will post -1.35 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BA. The Goldman Sachs Group reduced their price target on Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a research report on Monday, March 25th. Northcoast Research downgraded Boeing from a “neutral” rating to a “sell” rating and set a $140.00 price target for the company. in a research report on Wednesday, April 17th. Baird R W raised Boeing to a “strong-buy” rating in a report on Monday, June 3rd. Robert W. Baird lowered their target price on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. Finally, Morgan Stanley cut their price target 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 given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and an average target price of $220.89.

About Boeing

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.