CMG Global Holdings LLC Grows Stock Position in The Boeing Company $BA

CMG Global Holdings LLC raised its position in shares of The Boeing Company (NYSE:BA) by 9.4% during the 3rd quarter, Holdings Channel reports. The fund owned 46,276 shares of the aircraft producer’s stock after purchasing an additional 3,983 shares during the period. Boeing makes up approximately 4.8% of CMG Global Holdings LLC’s investment portfolio, making the stock its 4th biggest position. CMG Global Holdings LLC’s holdings in Boeing were worth $9,903,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BA. Wallace Advisory Group LLC raised its stake in Boeing by 1.2% during the second quarter. Wallace Advisory Group LLC now owns 3,570 shares of the aircraft producer’s stock valued at $748,000 after purchasing an additional 44 shares in the last quarter. Aspire Capital Advisors LLC increased its holdings in shares of Boeing by 0.8% in the 2nd quarter. Aspire Capital Advisors LLC now owns 5,943 shares of the aircraft producer’s stock worth $1,245,000 after buying an additional 45 shares during the last quarter. Lantz Financial LLC raised its position in shares of Boeing by 1.5% during the 2nd quarter. Lantz Financial LLC now owns 3,072 shares of the aircraft producer’s stock valued at $644,000 after buying an additional 46 shares in the last quarter. Blue Barn Wealth LLC lifted its holdings in shares of Boeing by 1.8% in the 2nd quarter. Blue Barn Wealth LLC now owns 2,594 shares of the aircraft producer’s stock valued at $544,000 after acquiring an additional 46 shares during the last quarter. Finally, Atlas Brown Inc. lifted its holdings in shares of Boeing by 0.7% in the 2nd quarter. Atlas Brown Inc. now owns 6,498 shares of the aircraft producer’s stock valued at $1,362,000 after acquiring an additional 48 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Down 0.8%

Shares of Boeing stock opened at $216.34 on Friday. The stock’s fifty day moving average is $202.10 and its two-hundred day moving average is $214.27. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69. The company has a market capitalization of $164.44 billion, a PE ratio of -15.81 and a beta of 1.18.

Boeing (NYSE:BA) last released its earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($6.96). The firm had revenue of $23.27 billion during the quarter, compared to analyst estimates of $21.61 billion. The company’s revenue was up 30.4% on a year-over-year basis. During the same period last year, the business posted ($10.44) EPS. As a group, research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Sanford C. Bernstein restated an “outperform” rating and set a $267.00 price objective on shares of Boeing in a research report on Friday, November 14th. Royal Bank Of Canada reissued an “outperform” rating and set a $250.00 target price on shares of Boeing in a research report on Monday, September 29th. Loop Capital set a $223.00 price target on Boeing in a report on Monday, November 3rd. Deutsche Bank Aktiengesellschaft lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $240.00 price objective for the company. in a research note on Thursday, October 30th. Finally, BNP Paribas set a $150.00 target price on shares of Boeing in a research note on Tuesday, November 18th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and a consensus price target of $233.17.

Insider Activity

In other news, SVP Dana S. Deasy acquired 554 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were bought at an average price of $178.88 per share, with a total value of $99,099.52. Following the completion of the purchase, the senior vice president directly owned 28,442 shares in the company, valued at $5,087,704.96. This trade represents a 1.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Uma M. Amuluru sold 1,366 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $197.66, for a total value of $270,003.56. Following the transaction, the executive vice president owned 14,656 shares in the company, valued at $2,896,904.96. The trade was a 8.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.09% of the stock is owned by insiders.

Boeing Company Profile

Boeing Company (NYSE: BA) is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing’s principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.