O Shaughnessy Asset Management LLC lifted its stake in The Boeing Company (NYSE:BA – Free Report) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,277 shares of the aircraft producer’s stock after purchasing an additional 3,024 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Boeing were worth $18,081,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of BA. Measured Wealth Private Client Group LLC acquired a new stake in shares of Boeing in the third quarter valued at approximately $25,000. Ares Financial Consulting LLC acquired a new position in Boeing in the fourth quarter valued at approximately $26,000. Strategic Wealth Advisors LLC acquired a new position in Boeing in the fourth quarter valued at approximately $27,000. Kohmann Bosshard Financial Services LLC acquired a new position in Boeing in the fourth quarter valued at approximately $28,000. Finally, American National Bank & Trust lifted its holdings in Boeing by 124.2% in the fourth quarter. American National Bank & Trust now owns 139 shares of the aircraft producer’s stock valued at $30,000 after buying an additional 77 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently weighed in on BA shares. Tigress Financial increased their price objective on shares of Boeing from $290.00 to $295.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Wolfe Research restated an “outperform” rating and issued a $275.00 price objective on shares of Boeing in a report on Thursday, April 23rd. Wells Fargo & Company started coverage on shares of Boeing in a report on Wednesday, April 1st. They issued an “overweight” rating and a $250.00 price objective on the stock. Morgan Stanley increased their price objective on shares of Boeing from $245.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, April 23rd. Finally, Jefferies Financial Group restated a “buy” rating on shares of Boeing in a report on Wednesday, March 4th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $259.80.
Key Stories Impacting Boeing
Here are the key news stories impacting Boeing this week:
- Positive Sentiment: Boeing reported 60 aircraft deliveries in May, a 33% increase from a year ago, with 737 MAX handovers recovering and suggesting better production and cash-flow momentum. Reuters: Boeing jet deliveries jump to 60 in May, 33% higher than last year
- Positive Sentiment: Brazil’s ANAC said it expects the 737 MAX 10 to be certified by the FAA this year and plans to quickly validate the decision locally, which could help Boeing move a long-delayed aircraft closer to service. Reuters: Brazil regulator expects MAX 10 certification this year
- Positive Sentiment: Analysts at Jefferies and Wells Fargo reiterated bullish views on Boeing, reinforcing the idea that Wall Street sees upside if deliveries and certifications continue to improve. InsiderMonkey: Jefferies, Wells Fargo Maintain Bullish Outlook on The Boeing Company (BA)
- Neutral Sentiment: Boeing also cleared a key 777X certification hurdle, which is encouraging for the widebody program, but the jet is still years behind schedule and not yet a near-term earnings driver. Yahoo Finance: Boeing Clears Key 777X Certification Hurdle
- Negative Sentiment: Boeing was asked to fix a KC-46 aerial refueling tanker vision-system issue before any additional U.S. Air Force order, highlighting ongoing product-quality and defense-program risk. Yahoo Finance: Market Chatter: Boeing Asked to Fix Aerial Refueling Tanker Vision-System Issue Before Additional US Air Force Order
- Negative Sentiment: The upcoming final report on the Air India 787 crash is keeping safety-related headlines in focus and could create additional volatility for Boeing shares. Yahoo Finance: The Boeing Air India Crash Was Almost a Year Ago. The Full Investigation Report Is Coming Soon.
Boeing Trading Down 0.6%
BA opened at $214.61 on Wednesday. The firm’s fifty day moving average is $221.70 and its two-hundred day moving average is $220.90. The company has a debt-to-equity ratio of 7.42, a quick ratio of 0.35 and a current ratio of 1.18. The firm has a market cap of $169.18 billion, a PE ratio of 104.18 and a beta of 1.19. The Boeing Company has a twelve month low of $176.77 and a twelve month high of $254.35.
Boeing (NYSE:BA – Get Free Report) last posted its earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.48. The firm had revenue of $22.22 billion during the quarter, compared to analyst estimates of $22.15 billion. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.49) earnings per share. Equities research analysts anticipate that The Boeing Company will post -0.15 EPS for the current year.
Insider Buying and Selling
In other Boeing news, Director Bradley D. Tilden purchased 1,370 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was bought at an average cost of $218.50 per share, with a total value of $299,345.00. Following the purchase, the director directly owned 1,370 shares of the company’s stock, valued at $299,345. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.10% of the company’s stock.
Boeing Company 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.
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