Cherokee Insurance Co Acquires Shares of 5,550 The Boeing Company $BA

Cherokee Insurance Co bought a new position in shares of The Boeing Company (NYSE:BA) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,550 shares of the aircraft producer’s stock, valued at approximately $1,163,000.

Other hedge funds have also modified their holdings of the company. Harbor Asset Planning Inc. acquired a new stake in Boeing in the 2nd quarter valued at about $25,000. Piscataqua Savings Bank grew its position in shares of Boeing by 1,712.5% in the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock valued at $30,000 after purchasing an additional 137 shares in the last quarter. Decker Retirement Planning Inc. acquired a new stake in shares of Boeing in the second quarter valued at approximately $35,000. IMG Wealth Management Inc. lifted its position in Boeing by 159.4% during the second quarter. IMG Wealth Management Inc. now owns 179 shares of the aircraft producer’s stock worth $38,000 after buying an additional 110 shares in the last quarter. Finally, Legacy Investment Solutions LLC acquired a new position in Boeing during the second quarter worth $39,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Boeing

In other news, EVP Uma M. Amuluru sold 1,366 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $197.66, for a total value of $270,003.56. Following the completion of the transaction, the executive vice president owned 14,656 shares of the company’s stock, valued at approximately $2,896,904.96. This trade represents a 8.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mortimer J. Buckley bought 2,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the purchase, the director owned 2,200 shares in the company, valued at $497,420. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

BA has been the subject of a number of recent research reports. Sanford C. Bernstein raised their target price on Boeing from $249.00 to $282.00 and gave the stock an “outperform” rating in a research note on Thursday, October 2nd. UBS Group restated a “buy” rating on shares of Boeing in a research report on Thursday, October 30th. JPMorgan Chase & Co. decreased their target price on shares of Boeing from $251.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Susquehanna dropped their price target on shares of Boeing from $270.00 to $255.00 and set a “positive” rating for the company in a research note on Wednesday. Finally, Loop Capital set a $223.00 price target on shares of Boeing in a report on Monday, November 3rd. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $241.05.

Boeing Stock Up 0.2%

BA opened at $195.63 on Thursday. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69. The business has a fifty day simple moving average of $214.27 and a 200-day simple moving average of $214.50. The firm has a market cap of $148.70 billion, a P/E ratio of -14.30 and a beta of 1.44.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($6.96). The company had revenue of $23.27 billion during the quarter, compared to analysts’ expectations of $21.61 billion. During the same quarter last year, the firm posted ($10.44) earnings per share. The company’s quarterly revenue was up 30.4% compared to the same quarter last year. Sell-side analysts expect that The Boeing Company will post -2.58 earnings per share for the current year.

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.