Fortitude Advisory Group L.L.C. Invests $299,000 in The Boeing Company (NYSE:BA)

Fortitude Advisory Group L.L.C. purchased a new stake in shares of The Boeing Company (NYSE:BA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,914 shares of the aircraft producer's stock, valued at approximately $299,000.

Several other institutional investors and hedge funds have also modified their holdings of BA. Sierra Ocean LLC acquired a new stake in shares of Boeing in the fourth quarter worth about $26,000. American National Bank & Trust raised its stake in shares of Boeing by 474.1% in the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock valued at $26,000 after acquiring an additional 128 shares in the last quarter. HighMark Wealth Management LLC lifted its holdings in Boeing by 121.6% in the 4th quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer's stock worth $29,000 after purchasing an additional 90 shares during the last quarter. REAP Financial Group LLC boosted its position in Boeing by 60.2% during the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock worth $31,000 after purchasing an additional 65 shares during the period. Finally, Anfield Capital Management LLC grew its holdings in Boeing by 113.1% during the fourth quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer's stock valued at $32,000 after purchasing an additional 95 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company's stock.

Boeing Stock Performance

NYSE:BA opened at $201.74 on Tuesday. The company has a 50-day moving average of $190.18 and a 200-day moving average of $177.43. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $218.80. The company has a market capitalization of $152.11 billion, a price-to-earnings ratio of -11.01 and a beta of 1.43.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.39) by $0.90. The business had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.57 billion. The business's revenue for the quarter was up 17.7% on a year-over-year basis. During the same period last year, the company earned ($1.13) EPS. Sell-side analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Insider Buying and Selling

In other news, EVP David Christopher Raymond sold 3,899 shares of Boeing stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $187.01, for a total value of $729,151.99. Following the completion of the transaction, the executive vice president now owns 42,513 shares in the company, valued at approximately $7,950,356.13. The trade was a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Brendan J. Nelson sold 640 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $206.28, for a total value of $132,019.20. Following the completion of the transaction, the senior vice president now directly owns 13,258 shares in the company, valued at $2,734,860.24. The trade was a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,744 shares of company stock worth $1,511,370 in the last 90 days. 0.09% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wall Street Zen cut shares of Boeing from a "hold" rating to a "sell" rating in a research note on Saturday, May 17th. Morgan Stanley set a $200.00 price target on shares of Boeing and gave the company an "equal weight" rating in a report on Thursday, June 12th. Benchmark dropped their price objective on Boeing from $250.00 to $215.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. The Goldman Sachs Group set a $212.00 target price on Boeing and gave the company a "buy" rating in a research note on Thursday, June 12th. Finally, Royal Bank of Canada reaffirmed a "cautious" rating on shares of Boeing in a research report on Thursday. Four research analysts have rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Boeing currently has a consensus rating of "Moderate Buy" and a consensus price target of $209.85.

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.

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