Cornerstone Advisors LLC Has $8.74 Million Position in The Boeing Company $BA

Cornerstone Advisors LLC boosted its holdings in shares of The Boeing Company (NYSE:BA) by 5.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,700 shares of the aircraft producer’s stock after buying an additional 2,200 shares during the period. Cornerstone Advisors LLC’s holdings in Boeing were worth $8,737,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in BA. Citizens Financial Group Inc. RI increased its position in shares of Boeing by 94.9% during the second quarter. Citizens Financial Group Inc. RI now owns 12,144 shares of the aircraft producer’s stock worth $2,545,000 after acquiring an additional 5,912 shares in the last quarter. Paragon Capital Management LLC acquired a new position in Boeing during the 2nd quarter valued at about $450,000. MJP Associates Inc. ADV bought a new stake in Boeing during the 2nd quarter worth approximately $307,000. Thoroughbred Financial Services LLC increased its holdings in Boeing by 11.7% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 13,197 shares of the aircraft producer’s stock worth $2,765,000 after purchasing an additional 1,386 shares in the last quarter. Finally, Campbell Deegan Wealth Management LLC purchased a new stake in shares of Boeing in the second quarter worth approximately $261,000. 64.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on BA shares. Morgan Stanley reaffirmed an “equal weight” rating on shares of Boeing in a research report on Monday, July 28th. JPMorgan Chase & Co. cut their price objective 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. Jefferies Financial Group set a $255.00 target price on shares of Boeing in a research note on Tuesday, September 30th. Susquehanna dropped their price target on shares of Boeing from $270.00 to $255.00 and set a “positive” rating on the stock in a research report on Wednesday. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of Boeing in a research report on Monday, September 29th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $240.30.

Insider Activity

In other Boeing news, EVP Uma M. Amuluru sold 1,366 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $197.66, for a total transaction of $270,003.56. Following the completion of the transaction, the executive vice president owned 14,656 shares in the company, valued at $2,896,904.96. This trade represents a 8.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mortimer J. Buckley bought 2,200 shares of Boeing stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average price of $226.10 per share, with a total value of $497,420.00. Following the purchase, the director directly owned 2,200 shares of the company’s stock, valued at approximately $497,420. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.09% of the stock is owned by corporate insiders.

Boeing Stock Down 0.1%

Shares of BA stock opened at $194.45 on Friday. The firm has a market cap of $147.80 billion, a P/E ratio of -14.21 and a beta of 1.44. The company has a 50 day moving average of $212.85 and a 200-day moving average of $214.68. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $242.69.

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

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.