Fortitude Advisory Group L.L.C. Raises Holdings in The Boeing Company $BA

Fortitude Advisory Group L.L.C. increased its position in The Boeing Company (NYSE:BA) by 49.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,855 shares of the aircraft producer’s stock after buying an additional 941 shares during the quarter. Fortitude Advisory Group L.L.C.’s holdings in Boeing were worth $598,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in BA. Kingstone Capital Partners Texas LLC purchased a new position in shares of Boeing in the 2nd quarter worth $378,459,000. Vanguard Group Inc. increased its holdings in Boeing by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock valued at $11,197,468,000 after purchasing an additional 1,212,327 shares in the last quarter. Strs Ohio acquired a new stake in Boeing in the 1st quarter valued at $98,984,000. Canada Pension Plan Investment Board increased its holdings in Boeing by 243.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 754,550 shares of the aircraft producer’s stock valued at $128,689,000 after purchasing an additional 535,060 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in Boeing by 38.4% in the 1st quarter. Deutsche Bank AG now owns 1,805,186 shares of the aircraft producer’s stock valued at $307,874,000 after purchasing an additional 501,161 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Down 0.5%

Shares of NYSE BA opened at $216.32 on Friday. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69. The business has a 50 day moving average price of $225.06 and a two-hundred day moving average price of $204.98. The firm has a market cap of $163.57 billion, a PE ratio of -13.10 and a beta of 1.47.

Boeing (NYSE:BA) last issued its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.32). The business had revenue of $22.75 billion during the quarter, compared to analysts’ expectations of $20.13 billion. The firm’s quarterly revenue was up 34.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($2.90) EPS. On average, analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BA. Jefferies Financial Group set a $255.00 price target on Boeing in a report on Tuesday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $250.00 price target on shares of Boeing in a report on Monday, September 29th. Vertical Research upgraded Boeing from a “hold” rating to a “buy” rating and increased their price target for the company from $242.00 to $270.00 in a report on Monday, September 8th. UBS Group set a $280.00 price target on Boeing and gave the company a “buy” rating in a report on Wednesday, July 30th. Finally, Bank of America increased their price target on Boeing from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, August 1st. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and an average price target of $233.91.

Insider Activity

In related news, EVP David Christopher Raymond sold 3,771 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the completion of the sale, the executive vice president directly owned 35,873 shares of the company’s stock, valued at $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mortimer J. Buckley acquired 2,200 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of $226.10 per share, with a total value of $497,420.00. Following the completion of the acquisition, the director owned 2,200 shares of the company’s stock, valued at $497,420. The trade was a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is owned by insiders.

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.