Cobblestone Capital Advisors LLC NY Grows Holdings in The Boeing Company (NYSE:BA)

Cobblestone Capital Advisors LLC NY raised its position in shares of The Boeing Company (NYSE:BA) by 10.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,852 shares of the aircraft producer’s stock after purchasing an additional 628 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in Boeing were worth $1,247,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Vermillion & White Wealth Management Group LLC purchased a new position in Boeing in the 4th quarter worth approximately $26,000. Vima LLC purchased a new position in shares of Boeing in the fourth quarter worth $34,000. Hobbs Group Advisors LLC bought a new position in shares of Boeing during the second quarter worth $34,000. McClarren Financial Advisors Inc. increased its holdings in Boeing by 451.4% in the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after acquiring an additional 158 shares during the last quarter. Finally, Bfsg LLC bought a new stake in Boeing in the 1st quarter valued at $39,000. 64.82% of the stock is currently owned by institutional investors.

Boeing Trading Down 2.8 %

Shares of BA stock traded down $4.53 on Friday, reaching $157.62. 7,328,641 shares of the company’s stock were exchanged, compared to its average volume of 7,886,446. The company’s fifty day simple moving average is $176.53 and its 200 day simple moving average is $180.81. The Boeing Company has a 52 week low of $156.70 and a 52 week high of $267.54. The stock has a market capitalization of $96.76 billion, a PE ratio of -44.40 and a beta of 1.56.

Boeing (NYSE:BA) last released its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The firm had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. The company’s revenue was down 14.6% on a year-over-year basis. During the same period last year, the business posted ($0.82) EPS. As a group, sell-side analysts predict that The Boeing Company will post -4.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BA shares. Baird R W upgraded Boeing to a “strong-buy” rating in a research report on Monday, June 3rd. Susquehanna reaffirmed a “positive” rating and issued a $230.00 price objective on shares of Boeing in a research note on Wednesday, August 14th. Stifel Nicolaus increased their target price on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $225.00 target price on shares of Boeing in a report on Tuesday, June 25th. Finally, Bank of America upped their price target on shares of Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, June 13th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $211.29.

Boeing 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.