Cornerstone Planning LLC Acquires Shares of 9,425 The Boeing Company $BA

Cornerstone Planning LLC bought a new position in The Boeing Company (NYSE:BA) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 9,425 shares of the aircraft producer’s stock, valued at approximately $2,053,000.

Several other institutional investors have also made changes to their positions in the company. World Investment Advisors raised its stake in Boeing by 21.2% during the 4th quarter. World Investment Advisors now owns 14,048 shares of the aircraft producer’s stock valued at $3,050,000 after purchasing an additional 2,461 shares during the period. Vericrest Private Wealth purchased a new stake in shares of Boeing in the fourth quarter valued at $213,000. Nalls Sherbakoff Group LLC acquired a new stake in shares of Boeing in the fourth quarter worth $49,000. Meadowbrook Advisors Group LLC purchased a new position in shares of Boeing during the fourth quarter valued at $414,000. Finally, DUTCH ASSET Corp purchased a new position in shares of Boeing during the fourth quarter valued at $352,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Price Performance

Shares of NYSE:BA opened at $223.51 on Friday. The firm has a market cap of $176.19 billion, a price-to-earnings ratio of 108.50 and a beta of 1.19. The Boeing Company has a 1 year low of $176.77 and a 1 year high of $254.35. The company has a current ratio of 1.18, a quick ratio of 0.35 and a debt-to-equity ratio of 7.42. The business has a fifty day simple moving average of $224.23 and a 200 day simple moving average of $222.81.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.48. The firm had revenue of $22.22 billion during the quarter, compared to analysts’ expectations of $22.15 billion. During the same quarter last year, the firm earned ($0.49) EPS. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, sell-side analysts predict that The Boeing Company will post -0.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Weiss Ratings lowered Boeing from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, April 24th. Wells Fargo & Company assumed coverage on Boeing in a research report on Wednesday, April 1st. They set an “overweight” rating and a $250.00 price objective for the company. Tigress Financial lifted their target price on Boeing from $290.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Morgan Stanley upped their target price on Boeing from $245.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, April 23rd. Finally, Wolfe Research restated an “outperform” rating and set a $275.00 price target on shares of Boeing in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $262.32.

Insider Activity

In other news, Director Bradley D. Tilden purchased 1,370 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average price of $218.50 per share, with a total value of $299,345.00. Following the purchase, the director owned 1,370 shares in the company, valued at $299,345. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.10% of the stock is currently owned by corporate 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.