Cambridge Financial Group Inc. Increases Stock Holdings in Boeing Co (NYSE:BA)

Cambridge Financial Group Inc. increased its holdings in shares of Boeing Co (NYSE:BA) by 9.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,409 shares of the aircraft producer’s stock after buying an additional 1,460 shares during the period. Boeing comprises approximately 1.8% of Cambridge Financial Group Inc.’s investment portfolio, making the stock its 28th largest holding. Cambridge Financial Group Inc.’s holdings in Boeing were worth $2,596,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Americana Partners LLC purchased a new position in Boeing in the 4th quarter valued at $26,000. Cordasco Financial Network purchased a new position in Boeing in the 1st quarter valued at $26,000. MBE Wealth Management LLC purchased a new position in Boeing in the 1st quarter valued at $26,000. Marquette Asset Management LLC lifted its holdings in Boeing by 316.7% in the 1st quarter. Marquette Asset Management LLC now owns 200 shares of the aircraft producer’s stock valued at $30,000 after purchasing an additional 152 shares in the last quarter. Finally, Rocky Mountain Advisers LLC lifted its holdings in Boeing by 100.0% in the 1st quarter. Rocky Mountain Advisers LLC now owns 200 shares of the aircraft producer’s stock valued at $30,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 65.59% of the company’s stock.

Shares of BA traded down $1.47 during midday trading on Friday, hitting $137.53. The company had a trading volume of 21,072,749 shares, compared to its average volume of 33,287,024. The company’s 50-day simple moving average is $135.22 and its 200-day simple moving average is $264.07. The firm has a market capitalization of $78.44 billion, a P/E ratio of -22.69 and a beta of 1.45. Boeing Co has a 1 year low of $89.00 and a 1 year high of $391.00.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, April 29th. The aircraft producer reported ($1.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.04) by $0.34. The business had revenue of $16.91 billion during the quarter, compared to analysts’ expectations of $16.90 billion. Boeing had a negative return on equity of 3.08% and a negative net margin of 4.84%. The business’s quarterly revenue was down 26.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.16 EPS. On average, analysts anticipate that Boeing Co will post -5.05 EPS for the current year.

A number of research analysts have weighed in on BA shares. Goldman Sachs Group restated a “positive” rating on shares of Boeing in a report on Thursday, April 30th. Canaccord Genuity cut their target price on Boeing from $175.00 to $155.00 and set a “hold” rating for the company in a research note on Friday. Sanford C. Bernstein reaffirmed a “buy” rating and issued a $401.00 target price on shares of Boeing in a research note on Wednesday, January 29th. Citigroup downgraded Boeing from a “buy” rating to a “neutral” rating and set a $175.00 price objective for the company. in a research report on Monday, April 20th. Finally, ValuEngine downgraded Boeing from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 1st. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $231.04.

About Boeing

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

Further Reading: What does an equal weight rating mean?

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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