5,550 Shares in The Boeing Company $BA Acquired by Cherokee Insurance Co
by Jessica Moore · The Cerbat GemCherokee Insurance Co purchased a new position in The Boeing Company (NYSE:BA – Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,550 shares of the aircraft producer’s stock, valued at approximately $1,163,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in BA. Harbor Asset Planning Inc. purchased a new stake in shares of Boeing during the 2nd quarter worth $25,000. Piscataqua Savings Bank raised its stake in Boeing by 1,712.5% in the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock valued at $30,000 after buying an additional 137 shares in the last quarter. Monetary Management Group Inc. lifted its holdings in Boeing by 33.3% during the 1st quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock worth $34,000 after buying an additional 50 shares during the last quarter. Decker Retirement Planning Inc. acquired a new position in shares of Boeing during the 2nd quarter worth about $35,000. Finally, IMG Wealth Management Inc. increased its holdings in shares of Boeing by 159.4% in the 2nd quarter. IMG Wealth Management Inc. now owns 179 shares of the aircraft producer’s stock valued at $38,000 after acquiring an additional 110 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.
Boeing Trading Up 0.2%
Shares of BA stock opened at $195.63 on Thursday. The company has a market capitalization of $148.70 billion, a P/E ratio of -14.30 and a beta of 1.44. The business’s 50 day moving average is $214.27 and its two-hundred day moving average is $214.50. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69.
Boeing (NYSE:BA – Get Free Report) last issued its quarterly 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 company had revenue of $23.27 billion during the quarter, compared to analysts’ expectations of $21.61 billion. During the same period in the previous year, the company posted ($10.44) earnings per share. Boeing’s revenue for the quarter was up 30.4% on a year-over-year basis. As a group, equities analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.
Insider Buying and Selling at Boeing
In other news, Director Mortimer J. Buckley acquired 2,200 shares of Boeing stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the transaction, the director directly owned 2,200 shares in the company, valued at approximately $497,420. 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. Also, EVP Uma M. Amuluru sold 1,366 shares of Boeing stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $197.66, for a total value of $270,003.56. Following the completion of the sale, the executive vice president directly owned 14,656 shares in the company, valued at $2,896,904.96. This represents a 8.53% decrease in their position. The SEC filing for this sale provides additional information. 0.09% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
BA has been the subject of several recent analyst reports. Barclays boosted their target price on Boeing from $210.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Jefferies Financial Group set a $255.00 price objective on shares of Boeing in a research report on Tuesday, September 30th. Deutsche Bank Aktiengesellschaft cut shares of Boeing from a “buy” rating to a “hold” rating and set a $240.00 target price for the company. in a report on Thursday, October 30th. Susquehanna cut their price target on shares of Boeing from $270.00 to $255.00 and set a “positive” rating on the stock in a research note on Wednesday. Finally, Citigroup reissued a “buy” rating on shares of Boeing in a research report on Monday, July 28th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $241.05.
Get Our Latest Research Report on BA
About Boeing
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.
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