Cornerstone Wealth Management LLC Has $2.60 Million Stock Holdings in The Boeing Company (NYSE:BA)

Cornerstone Wealth Management LLC raised its stake in shares of The Boeing Company (NYSE:BA) by 5.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,685 shares of the aircraft producer’s stock after buying an additional 728 shares during the period. Cornerstone Wealth Management LLC’s holdings in Boeing were worth $2,599,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BA. Sugar Maple Asset Management LLC bought a new position in Boeing during the fourth quarter valued at approximately $27,000. RPg Family Wealth Advisory LLC bought a new position in shares of Boeing during the 3rd quarter valued at $28,000. Cedar Wealth Management LLC bought a new position in shares of Boeing during the 3rd quarter valued at $30,000. Albion Financial Group UT lifted its stake in shares of Boeing by 116.1% in the 4th quarter. Albion Financial Group UT now owns 296 shares of the aircraft producer’s stock valued at $52,000 after purchasing an additional 159 shares during the last quarter. Finally, Planning Capital Management Corp boosted its holdings in Boeing by 741.0% in the third quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock worth $50,000 after purchasing an additional 289 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BA shares. Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. DZ Bank lowered Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a report on Tuesday, October 15th. Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $195.00 to $169.00 in a report on Wednesday, October 30th. Wells Fargo & Company reduced their price objective on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Finally, TD Cowen decreased their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $192.21.

Boeing Trading Up 2.0 %

BA opened at $178.34 on Friday. The stock’s 50 day simple moving average is $164.90 and its 200-day simple moving average is $164.53. The stock has a market cap of $110.25 billion, a PE ratio of -13.82 and a beta of 1.52. The Boeing Company has a 1 year low of $137.03 and a 1 year high of $217.59.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter in the previous year, the business earned ($3.26) earnings per share. Boeing’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities analysts forecast that The Boeing Company will post -16.36 earnings per share for the current fiscal year.

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.