CMG Global Holdings LLC Has $2.53 Million Stock Position in The Boeing Company (NYSE:BA)

CMG Global Holdings LLC raised its position in The Boeing Company (NYSE:BA) by 53.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 13,874 shares of the aircraft producer’s stock after acquiring an additional 4,806 shares during the period. Boeing makes up about 1.7% of CMG Global Holdings LLC’s holdings, making the stock its 20th largest position. CMG Global Holdings LLC’s holdings in Boeing were worth $2,525,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC acquired a new position in Boeing during the 4th quarter valued at about $26,000. Vima LLC bought a new position in shares of Boeing in the fourth quarter valued at approximately $34,000. Accent Capital Management LLC purchased a new position in shares of Boeing during the fourth quarter valued at approximately $39,000. Frank Rimerman Advisors LLC bought a new stake in Boeing during the fourth quarter worth $48,000. Finally, Hobbs Group Advisors LLC purchased a new stake in Boeing in the 2nd quarter valued at $34,000. Institutional investors own 64.82% of the company’s stock.

Boeing Trading Up 1.1 %

Boeing stock opened at $156.32 on Monday. The firm has a 50 day simple moving average of $168.52 and a 200 day simple moving average of $176.10. The Boeing Company has a 1-year low of $151.65 and a 1-year high of $267.54. The firm has a market capitalization of $95.96 billion, a price-to-earnings ratio of -44.03 and a beta of 1.57.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The firm had revenue of $16.87 billion during the quarter, compared to the consensus estimate of $17.35 billion. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.82) EPS. On average, equities research analysts forecast that The Boeing Company will post -4.27 EPS for the current year.

Wall Street Analyst Weigh In

BA has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $119.00 price objective (down from $185.00) on shares of Boeing in a research report on Tuesday, September 3rd. The Goldman Sachs Group dropped their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Robert W. Baird decreased their price target on Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. Finally, UBS Group dropped their price target on Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, June 7th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.83.

Boeing Company 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.