The Boeing Company (NYSE:BA) Holdings Increased by Cornerstone Advisors LLC

Cornerstone Advisors LLC raised its holdings in The Boeing Company (NYSE:BA) by 1.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,500 shares of the aircraft producer’s stock after acquiring an additional 500 shares during the quarter. Cornerstone Advisors LLC’s holdings in Boeing were worth $6,006,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Hobbs Group Advisors LLC purchased a new stake in shares of Boeing during the second quarter valued at $34,000. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Boeing in the second quarter worth about $33,000. Cedar Wealth Management LLC purchased a new position in shares of Boeing in the third quarter worth approximately $30,000. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Boeing by 351.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after acquiring an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in Boeing during the 2nd quarter worth approximately $39,000. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Up 0.4 %

Shares of NYSE:BA opened at $146.11 on Thursday. The company’s fifty day simple moving average is $152.22 and its 200 day simple moving average is $168.79. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $267.54. The firm has a market cap of $90.33 billion, a price-to-earnings ratio of -11.33 and a beta of 1.57.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter last year, the business earned ($3.26) earnings per share. The firm’s revenue was down 1.5% on a year-over-year basis. Research analysts expect that The Boeing Company will post -16.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on BA. Citigroup decreased their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research report on Tuesday, October 15th. Wells Fargo & Company dropped their price target on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Finally, The Goldman Sachs Group dropped their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $190.37.

Boeing Company 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.