Cobblestone Capital Advisors LLC NY Grows Stake in The Boeing Company (NYSE:BA)

Cobblestone Capital Advisors LLC NY increased its holdings in The Boeing Company (NYSE:BA) by 10.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,852 shares of the aircraft producer’s stock after buying an additional 628 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Boeing were worth $1,247,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Boeing by 2.5% during the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after purchasing an additional 1,222,816 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Boeing by 35.5% during the 4th quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after buying an additional 4,425,964 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Boeing by 23.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock worth $2,560,466,000 after buying an additional 1,884,850 shares during the last quarter. Northern Trust Corp boosted its stake in Boeing by 1.1% in the fourth quarter. Northern Trust Corp now owns 5,003,262 shares of the aircraft producer’s stock worth $1,304,150,000 after buying an additional 52,081 shares in the last quarter. Finally, Jennison Associates LLC grew its position in Boeing by 14.1% during the first quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock valued at $811,221,000 after acquiring an additional 518,952 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of BA stock traded down $4.53 during mid-day trading on Friday, hitting $157.62. The company’s stock had a trading volume of 7,328,641 shares, compared to its average volume of 7,886,446. The stock has a market cap of $96.76 billion, a price-to-earnings ratio of -44.40 and a beta of 1.56. The Boeing Company has a 52-week low of $156.70 and a 52-week high of $267.54. The business has a 50-day moving average price of $176.53 and a 200 day moving average price of $180.81.

Boeing (NYSE:BA) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $17.35 billion. During the same period last year, the firm earned ($0.82) earnings per share. The firm’s revenue was down 14.6% compared to the same quarter last year. Equities research analysts predict that The Boeing Company will post -4.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BA shares. Susquehanna reaffirmed a “positive” rating and set a $230.00 price objective on shares of Boeing in a research note on Wednesday, August 14th. Bank of America lifted their price target on Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, June 13th. Baird R W raised Boeing to a “strong-buy” rating in a research note on Monday, June 3rd. Sanford C. Bernstein decreased their target price on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Finally, Stifel Nicolaus increased their price target on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $211.29.

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.