Pinnacle Wealth Management Advisory Group LLC Cuts Position in The Boeing Company (NYSE:BA)

Pinnacle Wealth Management Advisory Group LLC cut its stake in The Boeing Company (NYSE:BA) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,899 shares of the aircraft producer’s stock after selling 264 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Boeing were worth $1,538,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. National Pension Service boosted its holdings in Boeing by 2.0% in the fourth quarter. National Pension Service now owns 856,491 shares of the aircraft producer’s stock valued at $223,253,000 after purchasing an additional 16,605 shares during the last quarter. Bogart Wealth LLC grew its holdings in Boeing by 18.3% during the 4th quarter. Bogart Wealth LLC now owns 1,045 shares of the aircraft producer’s stock worth $272,000 after acquiring an additional 162 shares in the last quarter. RMR Wealth Builders acquired a new stake in shares of Boeing in the 4th quarter valued at about $285,000. Picton Mahoney Asset Management grew its stake in Boeing by 3.5% in the fourth quarter. Picton Mahoney Asset Management now owns 97,980 shares of the aircraft producer’s stock worth $25,539,000 after purchasing an additional 3,313 shares in the last quarter. Finally, EdgeRock Capital LLC acquired a new position in shares of Boeing in the 4th quarter worth approximately $239,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Trading Up 2.1 %

NYSE:BA traded up $3.64 during trading hours on Wednesday, hitting $180.35. 4,872,231 shares of the company traded hands, compared to its average volume of 9,552,833. The firm has a 50-day moving average of $182.80 and a 200 day moving average of $206.14. The Boeing Company has a twelve month low of $159.70 and a twelve month high of $267.54. The stock has a market capitalization of $110.71 billion, a price-to-earnings ratio of -50.80 and a beta of 1.54.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. StockNews.com lowered shares of Boeing from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Argus downgraded shares of Boeing from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. JPMorgan Chase & Co. cut their price objective on shares of Boeing from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Royal Bank of Canada decreased their target price on shares of Boeing from $225.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, April 16th. Finally, Citigroup dropped their price target on shares of Boeing from $252.00 to $224.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $222.41.

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.