CMG Global Holdings LLC Purchases 14,682 Shares of The Boeing Company $BA

CMG Global Holdings LLC grew its position in shares of The Boeing Company (NYSE:BA) by 53.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,293 shares of the aircraft producer’s stock after purchasing an additional 14,682 shares during the quarter. Boeing makes up 4.7% of CMG Global Holdings LLC’s holdings, making the stock its 4th biggest holding. CMG Global Holdings LLC’s holdings in Boeing were worth $8,862,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Harbor Asset Planning Inc. acquired a new position in shares of Boeing in the second quarter worth approximately $25,000. Piscataqua Savings Bank lifted its stake in shares of Boeing by 1,712.5% in the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock worth $30,000 after acquiring an additional 137 shares during the period. Monetary Management Group Inc. lifted its stake in shares of Boeing by 33.3% in the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock worth $34,000 after acquiring an additional 50 shares during the period. Keener Financial Planning LLC acquired a new position in shares of Boeing in the second quarter worth approximately $41,000. Finally, Columbia River Financial Group LLC acquired a new position in shares of Boeing in the first quarter worth approximately $50,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BA. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Boeing in a research note on Wednesday, October 8th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Boeing in a research note on Monday, July 28th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of Boeing in a research note on Monday, September 29th. JPMorgan Chase & Co. lifted their target price on Boeing from $230.00 to $251.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Finally, Susquehanna reiterated a “positive” rating and issued a $270.00 target price on shares of Boeing in a report on Monday, September 15th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $240.20.

Boeing Stock Up 0.6%

NYSE BA opened at $213.09 on Monday. The company has a market cap of $161.13 billion, a price-to-earnings ratio of -12.91 and a beta of 1.47. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69. The business has a 50 day moving average price of $223.10 and a 200-day moving average price of $208.23.

Boeing (NYSE:BA) last released its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The firm had revenue of $22.75 billion during the quarter, compared to analysts’ expectations of $20.13 billion. The firm’s quarterly revenue was up 34.9% on a year-over-year basis. During the same period last year, the company posted ($2.90) EPS. On average, equities research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Activity at Boeing

In other news, EVP David Christopher Raymond sold 3,771 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of the sale, the executive vice president owned 35,873 shares in the company, valued at $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mortimer J. Buckley acquired 2,200 shares of the firm’s stock in a transaction dated 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 acquisition, the director owned 2,200 shares of the company’s stock, valued at approximately $497,420. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

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.