CMG Global Holdings LLC Has $9.90 Million Stock Position in The Boeing Company $BA

CMG Global Holdings LLC boosted its holdings in The Boeing Company (NYSE:BA) by 9.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,276 shares of the aircraft producer’s stock after buying an additional 3,983 shares during the quarter. Boeing accounts for approximately 4.8% of CMG Global Holdings LLC’s holdings, making the stock its 4th biggest position. CMG Global Holdings LLC’s holdings in Boeing were worth $9,903,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Boeing by 1.7% during the second quarter. Vanguard Group Inc. now owns 66,773,360 shares of the aircraft producer’s stock valued at $13,991,022,000 after purchasing an additional 1,118,316 shares during the last quarter. Geode Capital Management LLC grew its position in Boeing by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 16,316,838 shares of the aircraft producer’s stock worth $3,402,073,000 after purchasing an additional 432,026 shares during the period. Fisher Asset Management LLC raised its stake in Boeing by 3.8% during the 2nd quarter. Fisher Asset Management LLC now owns 5,327,443 shares of the aircraft producer’s stock valued at $1,116,259,000 after buying an additional 196,666 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Boeing by 1.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,242,397 shares of the aircraft producer’s stock valued at $888,910,000 after buying an additional 44,338 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of Boeing by 6.3% in the 2nd quarter. Legal & General Group Plc now owns 3,145,620 shares of the aircraft producer’s stock worth $659,102,000 after buying an additional 187,545 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of Boeing stock opened at $216.34 on Friday. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69. The company has a market capitalization of $164.44 billion, a P/E ratio of -15.81 and a beta of 1.18. The company has a fifty day moving average of $202.10 and a 200 day moving average of $214.27.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 29th. The aircraft producer reported ($7.47) EPS for the quarter, missing the consensus estimate of ($0.51) by ($6.96). The firm had revenue of $23.27 billion during the quarter, compared to analyst estimates of $21.61 billion. During the same quarter last year, the firm earned ($10.44) EPS. The firm’s quarterly revenue was up 30.4% on a year-over-year basis. Analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BA shares. Citigroup began coverage on Boeing in a report on Thursday, December 11th. They issued a “buy” rating and a $265.00 target price on the stock. Vertical Research upgraded shares of Boeing from a “hold” rating to a “buy” rating and increased their price objective for the stock from $242.00 to $270.00 in a research note on Monday, September 8th. Royal Bank Of Canada restated an “outperform” rating and set a $250.00 target price on shares of Boeing in a research report on Monday, September 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $267.00 target price on shares of Boeing in a report on Friday, November 14th. Finally, Zacks Research upgraded shares of Boeing from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 2nd. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, Boeing has an average rating of “Moderate Buy” and a consensus target price of $233.17.

Insider Activity at Boeing

In other Boeing news, EVP Uma M. Amuluru sold 1,366 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $197.66, for a total transaction of $270,003.56. Following the completion of the sale, the executive vice president directly owned 14,656 shares of the company’s stock, valued at $2,896,904.96. This trade represents a 8.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Dana S. Deasy bought 554 shares of the stock in a transaction dated Monday, November 24th. The stock was bought at an average cost of $178.88 per share, for a total transaction of $99,099.52. Following the acquisition, the senior vice president directly owned 28,442 shares of the company’s stock, valued at approximately $5,087,704.96. This represents a 1.99% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.09% of the company’s stock.

Boeing Profile

Boeing Company (NYSE: BA) is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing’s principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.