Boeing Co (BA) Holdings Cut by Cornerstone Advisors Inc.
Cornerstone Advisors Inc. cut its holdings in Boeing Co (NYSE:BA) by 14.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,551 shares of the aircraft producer’s stock after selling 613 shares during the quarter. Boeing accounts for 0.1% of Cornerstone Advisors Inc.’s investment portfolio, making the stock its 20th largest holding. Cornerstone Advisors Inc.’s holdings in Boeing were worth $1,192,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of BA. Truewealth LLC raised its position in shares of Boeing by 17.7% during the second quarter. Truewealth LLC now owns 1,624 shares of the aircraft producer’s stock worth $545,000 after purchasing an additional 244 shares during the period. Mckinley Capital Management LLC Delaware raised its position in shares of Boeing by 163.3% during the second quarter. Mckinley Capital Management LLC Delaware now owns 19,877 shares of the aircraft producer’s stock worth $6,669,000 after purchasing an additional 12,327 shares during the period. Graham Capital Management L.P. acquired a new position in shares of Boeing during the first quarter worth approximately $919,000. Millennium Management LLC raised its position in shares of Boeing by 21.4% during the first quarter. Millennium Management LLC now owns 952,408 shares of the aircraft producer’s stock worth $312,276,000 after purchasing an additional 167,570 shares during the period. Finally, Mount Yale Investment Advisors LLC acquired a new position in shares of Boeing during the first quarter worth approximately $108,000. 69.71% of the stock is currently owned by hedge funds and other institutional investors.
BA has been the topic of a number of research reports. Jefferies Financial Group upped their target price on Boeing to $410.00 and gave the stock a “buy” rating in a research report on Thursday, September 6th. Berenberg Bank reaffirmed a “buy” rating and set a $430.00 target price on shares of Boeing in a research report on Monday, September 3rd. Cowen reaffirmed a “buy” rating and set a $445.00 target price on shares of Boeing in a research report on Monday, October 1st. Robert W. Baird reaffirmed a “buy” rating and set a $450.00 target price on shares of Boeing in a research report on Monday, August 13th. Finally, ValuEngine lowered Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. Six analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $401.25.
Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 25th. The aircraft producer reported $3.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.12). The business had revenue of $24.26 billion during the quarter, compared to the consensus estimate of $24.02 billion. Boeing had a net margin of 9.92% and a return on equity of 2,344.87%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.55 EPS. On average, equities analysts anticipate that Boeing Co will post 14.6 EPS for the current year.
The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
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