Cornerstone Wealth Management LLC Raises Stock Holdings in The Boeing Company (NYSE:BA)

Cornerstone Wealth Management LLC lifted its stake in The Boeing Company (NYSE:BA) by 5.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 15,496 shares of the aircraft producer’s stock after purchasing an additional 811 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Boeing were worth $2,643,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Sierra Ocean LLC bought a new stake in Boeing during the 4th quarter worth approximately $26,000. American National Bank & Trust raised its position in shares of Boeing by 474.1% during the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock valued at $26,000 after purchasing an additional 128 shares during the period. HighMark Wealth Management LLC lifted its stake in shares of Boeing by 121.6% during the 4th quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock valued at $29,000 after buying an additional 90 shares in the last quarter. REAP Financial Group LLC lifted its stake in shares of Boeing by 60.2% during the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer’s stock valued at $31,000 after buying an additional 65 shares in the last quarter. Finally, Anfield Capital Management LLC boosted its holdings in Boeing by 113.1% in the 4th quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer’s stock worth $32,000 after buying an additional 95 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on BA. Wells Fargo & Company restated an “underweight” rating on shares of Boeing in a research report on Thursday, May 22nd. Jefferies Financial Group lifted their target price on Boeing from $230.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Melius Research set a $204.00 price target on Boeing in a report on Monday, March 24th. Susquehanna reaffirmed a “positive” rating and set a $240.00 price objective (up from $205.00) on shares of Boeing in a report on Wednesday, May 14th. Finally, Morgan Stanley set a $200.00 target price on shares of Boeing and gave the stock an “equal weight” rating in a report on Thursday, June 12th. Four analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $209.85.

Insider Buying and Selling at Boeing

In other news, SVP Brendan J. Nelson sold 640 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the sale, the senior vice president now owns 13,258 shares of the company’s stock, valued at approximately $2,734,860.24. This represents a 4.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total transaction of $650,198.35. Following the transaction, the executive vice president now directly owns 20,513 shares of the company’s stock, valued at approximately $4,161,472.31. This represents a 13.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,744 shares of company stock worth $1,511,370 over the last ninety days. Company insiders own 0.09% of the company’s stock.

Boeing Stock Down 0.7%

BA stock opened at $200.21 on Wednesday. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $218.80. The firm has a market capitalization of $150.96 billion, a P/E ratio of -11.17 and a beta of 1.43. The company has a fifty day simple moving average of $190.97 and a two-hundred day simple moving average of $177.59.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.39) by $0.90. The business had revenue of $19.50 billion for the quarter, compared to analysts’ expectations of $19.57 billion. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.13) earnings per share. As a group, analysts anticipate 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.