Pinnacle Wealth Management Group Inc. Has $671,000 Stake in The Boeing Company (NYSE:BA)

by · The Markets Daily

Pinnacle Wealth Management Group Inc. trimmed its position in shares of The Boeing Company (NYSE:BA – Free Report) by 2.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,411 shares of the aircraft producer’s stock after selling 125 shares during the period. Pinnacle Wealth Management Group Inc.’s holdings in Boeing were worth $671,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in Boeing by 563.9% in the 4th quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock worth $896,434,000 after purchasing an additional 2,921,043 shares during the last quarter. Global Assets Advisory LLC acquired a new position in Boeing in the first quarter worth approximately $272,312,000. Vanguard Group Inc. raised its position in Boeing by 2.5% during the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after acquiring an additional 1,222,816 shares in the last quarter. Van ECK Associates Corp grew its position in Boeing by 9,626.0% in the second quarter. Van ECK Associates Corp now owns 1,026,092 shares of the aircraft producer’s stock worth $186,759,000 after acquiring an additional 1,015,542 shares in the last quarter. Finally, Wulff Hansen & CO. grew its position in Boeing by 15,039.0% in the second quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock worth $176,073,000 after acquiring an additional 960,993 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BA has been the subject of several analyst reports. The Goldman Sachs Group reduced their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Susquehanna restated a “positive” rating and issued a $230.00 target price on shares of Boeing in a report on Wednesday, August 14th. Jefferies Financial Group lowered their price target on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. TD Cowen decreased their target price on Boeing from $230.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Finally, Stifel Nicolaus upped their price target on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and an average target price of $206.00.

Read Our Latest Report on BA

Boeing Price Performance

Shares of Boeing stock traded up $4.40 on Friday, hitting $151.02. 10,688,553 shares of the company’s stock traded hands, compared to its average volume of 8,051,483. The firm’s 50-day moving average price is $162.41 and its two-hundred day moving average price is $173.94. The stock has a market capitalization of $93.05 billion, a PE ratio of -26.83 and a beta of 1.57. The Boeing Company has a one year low of $146.26 and a one year high of $267.54.

Boeing (NYSE:BA – Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The company had revenue of $16.87 billion for the quarter, compared to analyst estimates of $17.35 billion. During the same quarter last year, the firm earned ($0.82) earnings per share. Boeing’s revenue was down 14.6% compared to the same quarter last year. On average, analysts forecast that The Boeing Company will post -5.35 earnings per share for the current fiscal year.

Boeing Profile

(Free Report)

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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