Cane Capital Partners LLC Sells 9,490 Shares of The Boeing Company $BA

Cane Capital Partners LLC lessened its holdings in shares of The Boeing Company (NYSE:BAFree Report) by 23.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,176 shares of the aircraft producer’s stock after selling 9,490 shares during the quarter. Boeing comprises 2.6% of Cane Capital Partners LLC’s portfolio, making the stock its 11th biggest holding. Cane Capital Partners LLC’s holdings in Boeing were worth $6,006,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Russell Investments Group Ltd. lifted its position in Boeing by 41.1% in the third quarter. Russell Investments Group Ltd. now owns 223,824 shares of the aircraft producer’s stock worth $48,316,000 after buying an additional 65,216 shares during the last quarter. Princeton Capital Management LLC grew its stake in Boeing by 78.3% in the 4th quarter. Princeton Capital Management LLC now owns 12,249 shares of the aircraft producer’s stock worth $2,660,000 after acquiring an additional 5,381 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in Boeing in the first quarter worth approximately $7,961,000. Rakuten Investment Management Inc. increased its stake in shares of Boeing by 502.3% during the fourth quarter. Rakuten Investment Management Inc. now owns 103,099 shares of the aircraft producer’s stock valued at $22,398,000 after buying an additional 85,982 shares during the period. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in Boeing during the 4th quarter valued at about $55,787,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wells Fargo & Company began coverage on Boeing in a report on Wednesday, April 1st. They issued an “overweight” rating and a $250.00 price target on the stock. Jefferies Financial Group reiterated a “buy” rating on shares of Boeing in a research note on Wednesday, March 4th. Morgan Stanley upped their target price on Boeing from $245.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, April 23rd. Tigress Financial increased their price target on Boeing from $290.00 to $295.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $275.00 target price on shares of Boeing in a report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Boeing has an average rating of “Moderate Buy” and a consensus target price of $261.61.

Get Our Latest Research Report on Boeing

Insider Activity

In other news, Director Bradley D. Tilden acquired 1,370 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $218.50 per share, for a total transaction of $299,345.00. Following the completion of the transaction, the director owned 1,370 shares in the company, valued at approximately $299,345. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.10% of the company’s stock.

More Boeing News

Here are the key news stories impacting Boeing this week:

Boeing Trading Up 1.1%

Shares of BA stock opened at $218.81 on Thursday. The firm has a market capitalization of $172.48 billion, a P/E ratio of 106.22 and a beta of 1.21. The Boeing Company has a fifty-two week low of $176.77 and a fifty-two week high of $254.35. The stock’s fifty day moving average is $223.57 and its two-hundred day moving average is $223.95. The company has a debt-to-equity ratio of 7.42, a quick ratio of 0.35 and a current ratio of 1.18.

Boeing (NYSE:BAGet Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.48. The business had revenue of $22.22 billion for the quarter, compared to analysts’ expectations of $22.15 billion. The firm’s revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.49) EPS. Research analysts expect that The Boeing Company will post -0.15 earnings per share for the current fiscal year.

About Boeing

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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