Cornerstone Advisors LLC Boosts Stock Position in The Boeing Company $BA

Cornerstone Advisors LLC raised its holdings in shares of The Boeing Company (NYSE:BA) by 5.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,700 shares of the aircraft producer’s stock after acquiring an additional 2,200 shares during the period. Cornerstone Advisors LLC’s holdings in Boeing were worth $8,737,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BA. Vestcor Inc grew its position in Boeing by 9.0% during the 1st quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer’s stock worth $2,471,000 after acquiring an additional 1,195 shares during the last quarter. National Pension Service raised its holdings in Boeing by 19.6% in the 1st quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer’s stock worth $227,365,000 after purchasing an additional 218,049 shares in the last quarter. Alpha Cubed Investments LLC lifted its holdings in Boeing by 43.3% in the second quarter. Alpha Cubed Investments LLC now owns 3,598 shares of the aircraft producer’s stock worth $754,000 after buying an additional 1,088 shares during the period. McElhenny Sheffield Capital Management LLC purchased a new position in shares of Boeing in the 2nd quarter valued at approximately $62,859,000. Finally, Kelman Lazarov Inc. purchased a new position in Boeing during the first quarter valued at $262,000. 64.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on BA. Citigroup reiterated a “buy” rating on shares of Boeing in a research report on Monday, July 28th. Bank of America upped their price objective on Boeing from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Zacks Research lowered Boeing from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 29th. Vertical Research raised shares of Boeing from a “hold” rating to a “buy” rating and boosted their target price for the company from $242.00 to $270.00 in a research note on Monday, September 8th. Finally, KGI Securities raised shares of Boeing from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $240.30.

Insider Transactions at Boeing

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 sale, the executive vice president directly owned 14,656 shares of the company’s stock, valued at approximately $2,896,904.96. This represents a 8.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mortimer J. Buckley acquired 2,200 shares of Boeing stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average price of $226.10 per share, with a total value of $497,420.00. Following the purchase, the director owned 2,200 shares in the company, valued at $497,420. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.09% of the company’s stock.

Boeing Price Performance

NYSE:BA opened at $194.45 on Friday. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $242.69. The company has a 50-day moving average of $212.85 and a 200 day moving average of $214.68. The firm has a market cap of $147.80 billion, a PE ratio of -14.21 and a beta of 1.44.

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