Royal London Asset Management Ltd. lifted its position in The Boeing Company (NYSE:BA – Free Report) by 12.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 371,058 shares of the aircraft producer’s stock after purchasing an additional 41,269 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Boeing were worth $80,564,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Measured Wealth Private Client Group LLC bought a new position in Boeing during the 3rd quarter valued at approximately $25,000. Ares Financial Consulting LLC bought a new position in Boeing during the 4th quarter valued at approximately $26,000. Strategic Wealth Advisors LLC bought a new position in Boeing during the 4th quarter valued at approximately $27,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Boeing in the 4th quarter worth $28,000. Finally, American National Bank & Trust increased its holdings in shares of Boeing by 124.2% in the 4th quarter. American National Bank & Trust now owns 139 shares of the aircraft producer’s stock worth $30,000 after purchasing an additional 77 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages recently commented on BA. Morgan Stanley lifted their price objective on Boeing from $245.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, April 23rd. Jefferies Financial Group restated a “buy” rating on shares of Boeing in a report on Wednesday, March 4th. Wolfe Research restated an “outperform” rating and set a $275.00 target price on shares of Boeing in a report on Thursday, April 23rd. Weiss Ratings lowered Boeing from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, April 24th. Finally, Wells Fargo & Company started coverage on Boeing in a report on Wednesday, April 1st. They set an “overweight” rating and a $250.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Boeing has a consensus rating of “Moderate Buy” and a consensus price target of $262.32.
Insiders Place Their Bets
In related news, Director Bradley D. Tilden purchased 1,370 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were bought at an average cost of $218.50 per share, with a total value of $299,345.00. Following the transaction, the director owned 1,370 shares of the company’s stock, valued at approximately $299,345. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.10% of the company’s stock.
Trending Headlines about Boeing
Here are the key news stories impacting Boeing this week:
- Positive Sentiment: Boeing’s commercial delivery surge is helping drive free cash flow and supporting a recovery in the company’s balance sheet. Boeing’s Unseen Rebound: Why the Headlines Are Wrong
- Positive Sentiment: Boeing’s Global Services business posted higher quarterly revenue, a record $33 billion backlog, and new contract wins, suggesting a growing recurring-growth engine. Can Boeing’s Global Services Business Become a Bigger Growth Driver?
- Positive Sentiment: Boeing announced a $2.35 billion investment in its Wichita campus along with other operational updates, which investors may view as a commitment to capacity and long-term execution. Boeing (BA) Stock Trades Up, Here Is Why
- Neutral Sentiment: DP Aircraft I secured up to $92 million in long-term financing for Boeing 787s ahead of LOT leases, which is supportive for 787-related demand but is a smaller indirect catalyst for Boeing stock. DP Aircraft I locks in US$92m long-term financing for Boeing 787s ahead of LOT leases
- Negative Sentiment: Boeing was recently pressured by a broader pullback, with the stock previously dipping more than the market as investors remained sensitive to execution and valuation concerns. Why Boeing (BA) Dipped More Than Broader Market Today
Boeing Price Performance
Shares of BA opened at $219.23 on Friday. The business’s 50-day moving average is $222.78 and its two-hundred day moving average is $221.38. The company has a market capitalization of $172.82 billion, a P/E ratio of 106.42 and a beta of 1.19. 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 Boeing Company has a fifty-two week low of $176.77 and a fifty-two week high of $254.35.
Boeing (NYSE:BA – Get Free Report) last announced its quarterly 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 company had revenue of $22.22 billion for the quarter, compared to analyst estimates of $22.15 billion. Boeing’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.49) earnings per share. Research analysts predict that The Boeing Company will post -0.15 earnings per share for the current year.
About Boeing
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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