Cerro Pacific Wealth Advisors LLC Boosts Stock Position in The Boeing Company $BA

Cerro Pacific Wealth Advisors LLC grew its holdings in The Boeing Company (NYSE:BA) by 6.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,488 shares of the aircraft producer’s stock after buying an additional 91 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in Boeing were worth $312,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BA. Kingstone Capital Partners Texas LLC bought a new position in shares of Boeing in the 2nd quarter worth approximately $378,459,000. Vanguard Group Inc. increased its holdings in shares of Boeing by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock worth $11,197,468,000 after purchasing an additional 1,212,327 shares in the last quarter. Strs Ohio bought a new stake in shares of Boeing in the 1st quarter worth $98,984,000. Canada Pension Plan Investment Board boosted its stake in shares of Boeing by 243.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 754,550 shares of the aircraft producer’s stock worth $128,689,000 after buying an additional 535,060 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its position in Boeing by 938.4% during the second quarter. Valeo Financial Advisors LLC now owns 556,814 shares of the aircraft producer’s stock valued at $116,669,000 after purchasing an additional 503,193 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Insider Activity at Boeing

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of the transaction, the executive vice president owned 35,873 shares in the company, valued at $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mortimer J. Buckley bought 2,200 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were acquired at an average price of $226.10 per share, with a total value of $497,420.00. Following the transaction, the director directly owned 2,200 shares of the company’s stock, valued at approximately $497,420. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

BA has been the topic of several analyst reports. Bank of America lifted their target price on Boeing from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Vertical Research raised Boeing from a “hold” rating to a “buy” rating and lifted their target price for the stock from $242.00 to $270.00 in a report on Monday, September 8th. Redburn Atlantic raised Boeing from a “hold” rating to a “strong-buy” rating and lifted their target price for the stock from $180.00 to $275.00 in a report on Friday, June 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Boeing in a report on Wednesday. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $250.00 target price on shares of Boeing in a report on Monday, September 29th. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $233.91.

Boeing Price Performance

Shares of NYSE BA opened at $211.04 on Friday. The business’s 50 day moving average is $224.29 and its two-hundred day moving average is $206.38. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $242.69. The stock has a market capitalization of $159.58 billion, a P/E ratio of -12.78 and a beta of 1.47.

Boeing (NYSE:BA) last issued its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The business had revenue of $22.75 billion during the quarter, compared to the consensus estimate of $20.13 billion. During the same quarter in the prior year, the firm earned ($2.90) earnings per share. Boeing’s revenue was up 34.9% compared to the same quarter last year. As a group, equities research analysts anticipate that The Boeing Company will post -2.58 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.