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

Cornerstone Advisors LLC cut its stake in The Boeing Company (NYSE:BA) by 0.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,000 shares of the aircraft producer’s stock after selling 100 shares during the period. Cornerstone Advisors LLC’s holdings in Boeing were worth $7,098,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in BA. Capital Research Global Investors boosted its holdings in shares of Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after acquiring an additional 4,425,964 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Boeing by 563.9% during the fourth quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock worth $896,434,000 after buying an additional 2,921,043 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Boeing by 23.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock worth $2,560,466,000 after buying an additional 1,884,850 shares in the last quarter. Global Assets Advisory LLC bought a new stake in Boeing during the first quarter worth approximately $272,312,000. Finally, Vanguard Group Inc. boosted its holdings in Boeing by 2.5% during the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after buying an additional 1,222,816 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BA has been the subject of several research analyst reports. UBS Group reduced their price target on shares of Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, June 7th. Sanford C. Bernstein reduced their price target on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Susquehanna restated a “positive” rating and issued a $230.00 price target on shares of Boeing in a research report on Wednesday, August 14th. Stifel Nicolaus upped their price target on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Bank of America increased their target price on shares of Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, June 13th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $211.29.

Boeing Price Performance

NYSE BA opened at $156.77 on Monday. The firm has a market capitalization of $96.60 billion, a price-to-earnings ratio of -44.16 and a beta of 1.57. The company’s fifty day moving average is $174.10 and its two-hundred day moving average is $179.04. The Boeing Company has a 52-week low of $155.60 and a 52-week high of $267.54.

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