Cerro Pacific Wealth Advisors LLC Increases Stock Holdings in The Boeing Company $BA

Cerro Pacific Wealth Advisors LLC lifted its stake in shares of The Boeing Company (NYSE:BA) by 6.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,488 shares of the aircraft producer’s stock after buying an additional 91 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in Boeing were worth $312,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Boeing by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock valued at $11,197,468,000 after buying an additional 1,212,327 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Boeing by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer’s stock valued at $715,979,000 after buying an additional 19,615 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Boeing by 3.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,933,139 shares of the aircraft producer’s stock valued at $500,247,000 after buying an additional 91,707 shares during the last quarter. Swiss National Bank lifted its position in shares of Boeing by 2.5% during the 1st quarter. Swiss National Bank now owns 2,110,200 shares of the aircraft producer’s stock valued at $359,895,000 after buying an additional 51,700 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Boeing by 3.7% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,968,748 shares of the aircraft producer’s stock valued at $335,770,000 after buying an additional 69,560 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Insider Transactions at Boeing

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the company’s 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 in the company, valued at $8,248,637.62. This represents a 9.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mortimer J. Buckley bought 2,200 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was acquired at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the purchase, the director directly owned 2,200 shares in the company, valued at approximately $497,420. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is owned by corporate insiders.

Boeing Stock Down 2.3%

Shares of NYSE BA opened at $211.04 on Friday. The firm has a market capitalization of $159.58 billion, a P/E ratio of -12.78 and a beta of 1.47. The stock’s 50-day simple moving average is $224.29 and its two-hundred day simple moving average is $206.38. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69.

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 analysts’ consensus estimates of ($0.92) by ($0.32). The business had revenue of $22.75 billion during the quarter, compared to analyst estimates of $20.13 billion. The firm’s revenue was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.90) EPS. As a group, research analysts anticipate that The Boeing Company will post -2.58 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on BA. JPMorgan Chase & Co. upped their price target on Boeing from $230.00 to $251.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Redburn Atlantic raised Boeing from a “hold” rating to a “strong-buy” rating and upped their price target for the company from $180.00 to $275.00 in a research report on Friday, June 27th. Jefferies Financial Group set a $255.00 price target on Boeing in a research report on Tuesday, September 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Boeing in a research note on Wednesday. Finally, Bank of America boosted their price objective on Boeing from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $233.91.

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.