The Boeing Company (NYSE:BA) Shares Sold by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC cut its stake in The Boeing Company (NYSE:BA) by 1.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,154 shares of the aircraft producer’s stock after selling 209 shares during the period. Cornerstone Wealth Management LLC’s holdings in Boeing were worth $2,732,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Capital Research Global Investors lifted its stake in Boeing by 35.5% during the 4th 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 during the period. Jennison Associates LLC purchased a new position in shares of Boeing during the 4th quarter valued at approximately $960,397,000. Wellington Management Group LLP increased its holdings in shares of Boeing by 563.9% during the 4th quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock valued at $896,434,000 after purchasing an additional 2,921,043 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Boeing by 23.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after purchasing an additional 1,884,850 shares in the last quarter. Finally, Boston Partners increased its holdings in shares of Boeing by 861.6% during the 4th quarter. Boston Partners now owns 1,804,853 shares of the aircraft producer’s stock valued at $467,338,000 after purchasing an additional 1,617,151 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Trading Down 0.6 %

NYSE BA traded down $1.11 during trading hours on Thursday, reaching $184.31. The company had a trading volume of 2,764,797 shares, compared to its average volume of 5,659,858. The stock has a 50-day moving average of $179.54 and a 200 day moving average of $196.92. The Boeing Company has a 1-year low of $159.70 and a 1-year high of $267.54. The stock has a market capitalization of $113.14 billion, a P/E ratio of -51.92 and a beta of 1.56.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) EPS for the quarter, beating analysts’ consensus estimates of ($1.43) by $0.30. The company had revenue of $16.57 billion during the quarter, compared to analyst estimates of $17.69 billion. As a group, sell-side analysts predict that The Boeing Company will post -1.67 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $240.00 target price on shares of Boeing in a report on Wednesday, May 15th. Benchmark reissued a “buy” rating and issued a $250.00 price target on shares of Boeing in a report on Tuesday, March 26th. Melius reissued a “hold” rating on shares of Boeing in a report on Monday, April 1st. Barclays cut their price target on shares of Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a report on Monday, April 22nd. Finally, The Goldman Sachs Group cut their price target on shares of Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a report on Monday, March 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and a consensus price target of $220.89.

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.