CMG Global Holdings LLC Acquires 2,316 Shares of The Boeing Company (NYSE:BA)

CMG Global Holdings LLC lifted its holdings in The Boeing Company (NYSE:BA) by 16.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,190 shares of the aircraft producer’s stock after buying an additional 2,316 shares during the quarter. Boeing comprises 1.4% of CMG Global Holdings LLC’s portfolio, making the stock its 20th biggest holding. CMG Global Holdings LLC’s holdings in Boeing were worth $2,462,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BA. Cedar Wealth Management LLC bought a new stake in shares of Boeing during the 3rd quarter valued at $30,000. Kiely Wealth Advisory Group Inc. bought a new position in Boeing during the 2nd quarter worth approximately $33,000. Hobbs Group Advisors LLC acquired a new position in Boeing during the second quarter valued at approximately $34,000. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Boeing by 351.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after purchasing an additional 165 shares during the period. Finally, 1620 Investment Advisors Inc. bought a new stake in Boeing in the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BA. Jefferies Financial Group dropped their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. JPMorgan Chase & Co. cut their price target on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Stifel Nicolaus increased their price objective on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. UBS Group cut their target price on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, Citigroup decreased their price target on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $190.37.

Boeing Stock Performance

Shares of BA stock opened at $149.27 on Friday. The business has a fifty day simple moving average of $151.70 and a 200 day simple moving average of $168.42. The Boeing Company has a twelve month low of $137.03 and a twelve month high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. The business’s revenue was down 1.5% compared to the same quarter last year. During the same period last year, the firm earned ($3.26) EPS. On average, equities research analysts expect that The Boeing Company will post -16.2 EPS 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.