Cherry Creek Investment Advisors Inc. Takes Position in The Boeing Company (NYSE:BA)

Cherry Creek Investment Advisors Inc. bought a new position in The Boeing Company (NYSE:BA) during the fourth quarter, Holdings Channel reports. The firm bought 8,675 shares of the aircraft producer’s stock, valued at approximately $1,536,000. Boeing comprises about 0.8% of Cherry Creek Investment Advisors Inc.’s portfolio, making the stock its 28th biggest position.

Several other large investors have also added to or reduced their stakes in the business. Dark Forest Capital Management LP bought a new position in shares of Boeing during the second quarter valued at about $309,000. Sunbelt Securities Inc. boosted its stake in shares of Boeing by 3.1% in the 2nd quarter. Sunbelt Securities Inc. now owns 6,143 shares of the aircraft producer’s stock worth $1,118,000 after buying an additional 184 shares during the last quarter. William B. Walkup & Associates Inc. bought a new position in shares of Boeing in the second quarter valued at approximately $175,000. Wallace Advisory Group LLC purchased a new stake in shares of Boeing during the second quarter valued at approximately $244,000. Finally, Quarry LP boosted its position in Boeing by 68.3% in the second quarter. Quarry LP now owns 611 shares of the aircraft producer’s stock worth $111,000 after purchasing an additional 248 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

BA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price objective on Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. TD Cowen decreased their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Boeing in a report on Wednesday, October 30th. Finally, Robert W. Baird dropped their price objective on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $192.11.

Boeing Trading Down 0.6 %

Shares of NYSE:BA opened at $175.09 on Tuesday. The company has a 50 day moving average of $166.42 and a 200 day moving average of $164.29. The stock has a market cap of $108.24 billion, a P/E ratio of -13.57 and a beta of 1.52. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $214.63.

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.