Masso Torrence Wealth Management Inc. Decreases Stock Holdings in The Boeing Company (NYSE:BA)

Masso Torrence Wealth Management Inc. decreased its holdings in shares of The Boeing Company (NYSE:BA) by 14.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,149 shares of the aircraft producer’s stock after selling 195 shares during the period. Masso Torrence Wealth Management Inc.’s holdings in Boeing were worth $299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust raised its holdings in shares of Boeing by 24.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,683 shares of the aircraft producer’s stock worth $960,000 after acquiring an additional 730 shares during the period. Marks Group Wealth Management Inc purchased a new position in shares of Boeing during the 4th quarter worth $219,000. Roble Belko & Company Inc raised its holdings in shares of Boeing by 155.3% during the 4th quarter. Roble Belko & Company Inc now owns 822 shares of the aircraft producer’s stock worth $214,000 after acquiring an additional 500 shares during the period. PDS Planning Inc raised its holdings in shares of Boeing by 6.8% during the 4th quarter. PDS Planning Inc now owns 2,762 shares of the aircraft producer’s stock worth $720,000 after acquiring an additional 177 shares during the period. Finally, Scott & Selber Inc. raised its holdings in shares of Boeing by 79.1% during the 4th quarter. Scott & Selber Inc. now owns 13,129 shares of the aircraft producer’s stock worth $3,422,000 after acquiring an additional 5,797 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. JPMorgan Chase & Co. reduced their price target on Boeing from $230.00 to $210.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Melius reissued a “hold” rating on shares of Boeing in a research report on Monday, April 1st. Stifel Nicolaus cut their price objective on Boeing from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. The Goldman Sachs Group cut their price objective on Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a research report on Monday, March 25th. Finally, Morgan Stanley dropped their target price on Boeing from $235.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Boeing presently has an average rating of “Moderate Buy” and a consensus target price of $226.71.

Boeing Stock Performance

NYSE BA traded down $1.47 on Tuesday, reaching $169.01. The stock had a trading volume of 5,630,636 shares, compared to its average volume of 9,585,610. The Boeing Company has a 12-month low of $167.53 and a 12-month high of $267.54. The business’s 50-day moving average price is $189.51 and its 200 day moving average price is $207.32. The stock has a market cap of $103.12 billion, a P/E ratio of -46.18, a price-to-earnings-growth ratio of 134.48 and a beta of 1.52.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The firm had revenue of $22.02 billion during the quarter, compared to analysts’ expectations of $21.14 billion. Boeing’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.75) EPS. On average, sell-side analysts predict that The Boeing Company will post 0.32 earnings per share for the current year.

Boeing 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.