Cresset Asset Management LLC Has $2.82 Million Stake in The Boeing Company $BA

Cresset Asset Management LLC trimmed its position in shares of The Boeing Company (NYSE:BA) by 13.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,548 shares of the aircraft producer’s stock after selling 2,468 shares during the quarter. Cresset Asset Management LLC’s holdings in Boeing were worth $2,822,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BA. Wood Tarver Financial Group LLC boosted its holdings in Boeing by 14.3% during the 1st quarter. Wood Tarver Financial Group LLC now owns 439 shares of the aircraft producer’s stock valued at $75,000 after acquiring an additional 55 shares during the period. Signature Wealth Management Partners LLC boosted its holdings in Boeing by 2.0% during the 1st quarter. Signature Wealth Management Partners LLC now owns 2,888 shares of the aircraft producer’s stock valued at $493,000 after acquiring an additional 57 shares during the period. Byrne Financial Freedom LLC boosted its holdings in Boeing by 3.0% during the 1st quarter. Byrne Financial Freedom LLC now owns 1,993 shares of the aircraft producer’s stock valued at $340,000 after acquiring an additional 58 shares during the period. HighPoint Advisor Group LLC boosted its holdings in Boeing by 0.3% during the 1st quarter. HighPoint Advisor Group LLC now owns 19,657 shares of the aircraft producer’s stock valued at $3,578,000 after acquiring an additional 58 shares during the period. Finally, WBH Advisory Inc. boosted its holdings in Boeing by 2.6% during the 1st quarter. WBH Advisory Inc. now owns 2,304 shares of the aircraft producer’s stock valued at $393,000 after acquiring an additional 58 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Price Performance

Shares of BA stock opened at $232.48 on Tuesday. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $242.69. The stock’s fifty day moving average price is $219.75 and its 200 day moving average price is $193.10. The company has a market cap of $175.79 billion, a price-to-earnings ratio of -14.08 and a beta of 1.48.

Boeing (NYSE:BA) last announced its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The company had revenue of $22.75 billion during the quarter, compared to analysts’ expectations of $20.13 billion. During the same quarter last year, the business posted ($2.90) EPS. Boeing’s revenue was up 34.9% compared to the same quarter last year. As a group, equities research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BA shares. Barclays lifted their target price on Boeing from $210.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $250.00 target price on shares of Boeing in a research report on Wednesday, July 30th. Susquehanna lifted their target price on Boeing from $265.00 to $270.00 and gave the company a “positive” rating in a research report on Wednesday, July 30th. Bank of America lifted their target price on Boeing from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, The Goldman Sachs Group set a $212.00 target price on Boeing and gave the company a “buy” rating in a research report on Thursday, June 12th. Three analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $228.90.

Insiders Place Their Bets

In other news, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the transaction, the executive vice president directly owned 35,873 shares of the company’s stock, valued at approximately $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is currently owned by company insiders.

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.