Elite Wealth Management Inc. Acquires 1,665 Shares of The Boeing Company (NYSE:BA)

Elite Wealth Management Inc. increased its stake in The Boeing Company (NYSE:BA) by 52.4% in the first quarter, Holdings Channel.com reports. The firm owned 4,845 shares of the aircraft producer’s stock after purchasing an additional 1,665 shares during the quarter. The Boeing makes up approximately 0.2% of Elite Wealth Management Inc.’s investment portfolio, making the stock its 28th largest position. Elite Wealth Management Inc.’s holdings in The Boeing were worth $1,234,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Newport Trust Co boosted its stake in shares of The Boeing by 41.0% during the 4th quarter. Newport Trust Co now owns 49,550,937 shares of the aircraft producer’s stock worth $10,606,874,000 after buying an additional 14,409,687 shares during the last quarter. BlackRock Inc. boosted its stake in shares of The Boeing by 3.3% during the 4th quarter. BlackRock Inc. now owns 31,244,004 shares of the aircraft producer’s stock worth $6,688,091,000 after buying an additional 1,000,081 shares during the last quarter. Morgan Stanley boosted its stake in shares of The Boeing by 28.7% during the 4th quarter. Morgan Stanley now owns 7,508,555 shares of the aircraft producer’s stock worth $1,607,282,000 after buying an additional 1,673,366 shares during the last quarter. FMR LLC boosted its stake in shares of The Boeing by 75.9% during the 4th quarter. FMR LLC now owns 6,095,082 shares of the aircraft producer’s stock worth $1,304,713,000 after buying an additional 2,629,054 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of The Boeing by 7.8% during the 4th quarter. Bank of New York Mellon Corp now owns 4,562,147 shares of the aircraft producer’s stock worth $976,576,000 after buying an additional 331,409 shares during the last quarter. 51.41% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE BA traded down $4.08 during mid-day trading on Wednesday, reaching $224.80. 310,057 shares of the company’s stock traded hands, compared to its average volume of 15,431,100. The stock has a market cap of $131.47 billion, a P/E ratio of -29.01, a PEG ratio of 101.91 and a beta of 1.65. The business has a 50-day simple moving average of $244.01 and a 200 day simple moving average of $218.60. The Boeing Company has a 1-year low of $113.89 and a 1-year high of $278.57.

The Boeing (NYSE:BA) last released its quarterly earnings results on Tuesday, April 27th. The aircraft producer reported ($1.53) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.36). The company had revenue of $15.22 billion for the quarter, compared to analyst estimates of $15.95 billion. The business’s revenue was down 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.70) EPS. As a group, sell-side analysts anticipate that The Boeing Company will post -9.39 EPS for the current year.

BA has been the topic of a number of research analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $305.00 target price on shares of The Boeing in a report on Wednesday, April 14th. Susquehanna Bancshares upped their target price on shares of The Boeing from $250.00 to $300.00 and gave the company a “positive” rating in a report on Friday, March 19th. Morgan Stanley upped their target price on shares of The Boeing from $250.00 to $274.00 and gave the company an “overweight” rating in a report on Monday, March 22nd. Susquehanna upped their target price on shares of The Boeing from $250.00 to $300.00 and gave the company a “positive” rating in a report on Thursday, March 25th. Finally, Nord/LB cut shares of The Boeing from a “hold” rating to a “sell” rating in a report on Thursday, January 28th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $246.14.

The Boeing Company Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

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Institutional Ownership by Quarter for The Boeing (NYSE:BA)

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