Cherry Creek Investment Advisors Inc. Trims Position in The Boeing Company (NYSE:BA)

Cherry Creek Investment Advisors Inc. lowered its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 67.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,864 shares of the aircraft producer's stock after selling 5,811 shares during the quarter. Cherry Creek Investment Advisors Inc.'s holdings in Boeing were worth $489,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Amundi grew its stake in shares of Boeing by 473.6% during the fourth quarter. Amundi now owns 1,565,337 shares of the aircraft producer's stock worth $268,862,000 after purchasing an additional 1,292,417 shares in the last quarter. KKM Financial LLC boosted its position in shares of Boeing by 50.8% during the 4th quarter. KKM Financial LLC now owns 15,368 shares of the aircraft producer's stock worth $2,720,000 after acquiring an additional 5,175 shares in the last quarter. Wynn Capital LLC purchased a new position in shares of Boeing in the 1st quarter valued at about $584,000. Grant Private Wealth Management Inc purchased a new position in Boeing in the fourth quarter valued at approximately $903,000. Finally, Winslow Asset Management Inc. lifted its position in shares of Boeing by 8.2% during the 4th quarter. Winslow Asset Management Inc. now owns 40,761 shares of the aircraft producer's stock worth $7,215,000 after buying an additional 3,096 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Bank of America upgraded shares of Boeing from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $185.00 to $260.00 in a research note on Monday, June 2nd. TD Securities cut Boeing to a "cautious" rating in a research report on Thursday, May 22nd. Melius raised Boeing from a "hold" rating to a "buy" rating in a research report on Monday, March 24th. Cowen reissued a "buy" rating on shares of Boeing in a report on Wednesday, May 7th. Finally, Wall Street Zen lowered shares of Boeing from a "hold" rating to a "sell" rating in a research report on Saturday, May 17th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $209.85.

Boeing Stock Down 0.9%

BA stock traded down $1.85 on Wednesday, reaching $199.09. 4,681,358 shares of the company's stock were exchanged, compared to its average volume of 9,429,940. The stock has a fifty day moving average of $195.13 and a 200-day moving average of $179.09. The firm has a market cap of $150.12 billion, a PE ratio of -11.11 and a beta of 1.43. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $218.80.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.39) by $0.90. The company had revenue of $19.50 billion during the quarter, compared to analysts' expectations of $19.57 billion. During the same quarter in the prior year, the business earned ($1.13) EPS. The business's revenue for the quarter was up 17.7% compared to the same quarter last year. On average, equities research analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Buying and Selling at Boeing

In other Boeing news, SVP Brendan J. Nelson sold 640 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $206.28, for a total transaction of $132,019.20. Following the sale, the senior vice president now owns 13,258 shares in the company, valued at approximately $2,734,860.24. This represents a 4.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Christopher Raymond sold 3,899 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total value of $729,151.99. Following the transaction, the executive vice president now directly owns 42,513 shares of the company's stock, valued at $7,950,356.13. The trade was a 8.40% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,744 shares of company stock valued at $1,511,370. Corporate insiders own 0.09% of the company's stock.

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.