Cornerstone Advisors LLC Acquires 500 Shares of The Boeing Company (NYSE:BA)

Cornerstone Advisors LLC raised its stake in The Boeing Company (NYSE:BA) by 1.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 39,500 shares of the aircraft producer’s stock after buying an additional 500 shares during the quarter. Cornerstone Advisors LLC’s holdings in Boeing were worth $6,006,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in BA. Pitcairn Co. boosted its stake in shares of Boeing by 25.1% during the first quarter. Pitcairn Co. now owns 2,645 shares of the aircraft producer’s stock valued at $510,000 after purchasing an additional 530 shares in the last quarter. MQS Management LLC bought a new stake in Boeing during the first quarter valued at $237,000. EntryPoint Capital LLC raised its position in shares of Boeing by 186.1% in the 1st quarter. EntryPoint Capital LLC now owns 638 shares of the aircraft producer’s stock worth $123,000 after acquiring an additional 415 shares in the last quarter. CreativeOne Wealth LLC lifted its stake in shares of Boeing by 21.8% in the 1st quarter. CreativeOne Wealth LLC now owns 5,350 shares of the aircraft producer’s stock valued at $1,033,000 after purchasing an additional 958 shares during the period. Finally, Freestone Capital Holdings LLC grew its position in Boeing by 2.4% in the 1st quarter. Freestone Capital Holdings LLC now owns 9,213 shares of the aircraft producer’s stock valued at $1,778,000 after purchasing an additional 220 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Trading Up 0.4 %

Shares of BA stock opened at $146.11 on Thursday. The company’s fifty day moving average price is $152.22 and its 200-day moving average price is $168.79. The stock has a market cap of $90.33 billion, a PE ratio of -11.33 and a beta of 1.57. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the previous year, the business posted ($3.26) EPS. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, sell-side analysts forecast that The Boeing Company will post -16.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BA shares. Stifel Nicolaus lifted their price target on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Jefferies Financial Group lowered their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a report on Tuesday, October 15th. Susquehanna lowered their target price on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. Finally, Wells Fargo & Company cut their price target on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $190.37.

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.