Naviter Wealth LLC Buys 1,566 Shares of The Boeing Company (NYSE:BA)

Naviter Wealth LLC increased its stake in shares of The Boeing Company (NYSE:BA) by 39.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 5,541 shares of the aircraft producer’s stock after acquiring an additional 1,566 shares during the quarter. Naviter Wealth LLC’s holdings in Boeing were worth $1,069,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Boeing during the 4th quarter worth approximately $26,000. Evolution Advisers Inc. bought a new position in shares of Boeing in the 4th quarter worth $28,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Boeing during the fourth quarter worth $28,000. Vima LLC bought a new stake in Boeing in the fourth quarter valued at about $34,000. Finally, Accent Capital Management LLC acquired a new position in Boeing in the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Trading Down 0.7 %

NYSE BA opened at $185.42 on Wednesday. The firm’s 50 day simple moving average is $178.82 and its 200 day simple moving average is $197.56. The firm has a market capitalization of $113.83 billion, a price-to-earnings ratio of -52.23 and a beta of 1.56. The Boeing Company has a 1 year low of $159.70 and a 1 year high of $267.54.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) EPS for the quarter, topping the consensus estimate of ($1.43) by $0.30. The business had revenue of $16.57 billion for the quarter, compared to analyst estimates of $17.69 billion. On average, equities research analysts forecast that The Boeing Company will post -1.67 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BA shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $225.00 target price on shares of Boeing in a research report on Tuesday, June 25th. Argus lowered shares of Boeing from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Melius reissued a “hold” rating on shares of Boeing in a report on Monday, April 1st. Bank of America raised their price objective on Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, June 13th. Finally, The Goldman Sachs Group decreased their target price on Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a research note on Monday, March 25th. Two analysts have rated the stock with a sell rating, eight 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.89.

Boeing Company 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.