Cresset Asset Management LLC Sells 2,468 Shares of The Boeing Company $BA

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Cresset Asset Management LLC cut its holdings in The Boeing Company (NYSE:BA - Free Report) by 13.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,548 shares of the aircraft producer's stock after selling 2,468 shares during the quarter. Cresset Asset Management LLC's holdings in Boeing were worth $2,822,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vestcor Inc lifted its stake in Boeing by 9.0% during the first quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer's stock valued at $2,471,000 after purchasing an additional 1,195 shares during the last quarter. National Pension Service increased its holdings in shares of Boeing by 19.6% in the first quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer's stock valued at $227,365,000 after buying an additional 218,049 shares in the last quarter. KKM Financial LLC increased its holdings in shares of Boeing by 50.8% in the fourth quarter. KKM Financial LLC now owns 15,368 shares of the aircraft producer's stock valued at $2,720,000 after buying an additional 5,175 shares in the last quarter. Wynn Capital LLC acquired a new stake in shares of Boeing during the 1st quarter valued at $584,000. Finally, Advanced Portfolio Management LLC boosted its stake in shares of Boeing by 182.2% during the 4th quarter. Advanced Portfolio Management LLC now owns 15,000 shares of the aircraft producer's stock worth $2,655,000 after acquiring an additional 9,684 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Price Performance

BA traded up $0.3060 during trading on Wednesday, reaching $225.3060. 5,001,473 shares of the stock traded hands, compared to its average volume of 8,412,011. The stock has a market cap of $170.37 billion, a price-to-earnings ratio of -13.65 and a beta of 1.48. The stock's 50-day simple moving average is $219.94 and its two-hundred day simple moving average is $193.33. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The company had revenue of $22.75 billion for the quarter, compared to analysts' expectations of $20.13 billion. The business's quarterly revenue was up 34.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.90) earnings per share. Research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of the sale, the executive vice president owned 35,873 shares of the company's stock, valued at $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BA. JPMorgan Chase & Co. boosted their target price on Boeing from $230.00 to $251.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Redburn Atlantic raised Boeing from a "hold" rating to a "strong-buy" rating and lifted their price target for the stock from $180.00 to $275.00 in a research note on Friday, June 27th. Bank of America boosted their price objective on Boeing from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, August 1st. TD Securities lowered shares of Boeing to a "cautious" rating in a research note on Thursday, May 22nd. Finally, KGI Securities raised shares of Boeing from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $228.90.

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.