Cornerstone Planning LLC Acquires New Shares in The Boeing Company $BA

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

Several other hedge funds have also recently bought and sold shares of the business. Purus Wealth Management LLC lifted its position in shares of Boeing by 3.6% in the fourth quarter. Purus Wealth Management LLC now owns 1,177 shares of the aircraft producer’s stock worth $256,000 after buying an additional 41 shares during the last quarter. West Wealth Group LLC increased its holdings in shares of Boeing by 0.6% during the 4th quarter. West Wealth Group LLC now owns 7,279 shares of the aircraft producer’s stock valued at $1,581,000 after acquiring an additional 42 shares during the last quarter. First Heartland Consultants Inc. increased its holdings in shares of Boeing by 1.1% during the 4th quarter. First Heartland Consultants Inc. now owns 4,062 shares of the aircraft producer’s stock valued at $882,000 after acquiring an additional 43 shares during the last quarter. XML Financial LLC raised its stake in shares of Boeing by 0.5% in the 4th quarter. XML Financial LLC now owns 8,905 shares of the aircraft producer’s stock valued at $1,933,000 after acquiring an additional 43 shares in the last quarter. Finally, Global Financial Private Client LLC raised its stake in shares of Boeing by 1.1% in the 4th quarter. Global Financial Private Client LLC now owns 4,025 shares of the aircraft producer’s stock valued at $874,000 after acquiring an additional 44 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on BA. Jefferies Financial Group reaffirmed a “buy” rating on shares of Boeing in a research report on Wednesday, March 4th. Wells Fargo & Company started coverage on shares of Boeing in a research report on Wednesday, April 1st. They issued an “overweight” rating and a $250.00 price target on the stock. Citigroup upped their price objective on shares of Boeing from $256.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Wolfe Research reiterated an “outperform” rating and issued a $275.00 target price on shares of Boeing in a research note on Thursday, April 23rd. Finally, Weiss Ratings downgraded shares of Boeing from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $262.32.

Boeing Stock Performance

BA opened at $223.51 on Friday. The firm has a market capitalization of $176.19 billion, a P/E ratio of 108.50 and a beta of 1.19. The stock’s 50 day moving average price is $224.23 and its two-hundred day moving average price is $222.81. The company has a quick ratio of 0.35, a current ratio of 1.18 and a debt-to-equity ratio of 7.42. The Boeing Company has a 12-month low of $176.77 and a 12-month high of $254.35.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.48. The business had revenue of $22.22 billion for the quarter, compared to analyst estimates of $22.15 billion. During the same quarter last year, the firm earned ($0.49) earnings per share. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. On average, equities analysts forecast that The Boeing Company will post -0.15 earnings per share for the current year.

Insider Transactions at Boeing

In related news, Director Bradley D. Tilden bought 1,370 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $218.50 per share, for a total transaction of $299,345.00. Following the purchase, the director directly owned 1,370 shares in the company, valued at $299,345. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.10% of the company’s stock.

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.