Smithbridge Asset Management Inc. DE acquired a new stake in shares of The Boeing Company (NYSE:BA – Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,304 shares of the aircraft producer’s stock, valued at approximately $2,051,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of BA. Measured Wealth Private Client Group LLC acquired a new position in shares of Boeing in the 3rd quarter valued at approximately $25,000. Strive Financial Group LLC acquired a new stake in shares of Boeing during the fourth quarter worth approximately $25,000. CrossGen Wealth LLC acquired a new stake in shares of Boeing during the fourth quarter worth approximately $26,000. Ares Financial Consulting LLC bought a new stake in shares of Boeing in the fourth quarter worth $26,000. Finally, 1 North Wealth Services LLC bought a new stake in shares of Boeing in the fourth quarter worth $27,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have commented on BA shares. Jefferies Financial Group reiterated a “buy” rating on shares of Boeing in a research note on Wednesday, March 4th. Tigress Financial boosted their target price on shares of Boeing from $290.00 to $295.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Morgan Stanley upped their target price on shares of Boeing from $245.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, April 23rd. Citigroup upped their target price on shares of Boeing from $256.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $275.00 price target on shares of Boeing in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $261.61.
Insider Buying and Selling at Boeing
In other Boeing news, Director Bradley D. Tilden purchased 1,370 shares of Boeing stock in a transaction dated Wednesday, May 20th. The shares were bought at an average cost of $218.50 per share, for a total transaction of $299,345.00. Following the transaction, the director owned 1,370 shares in the company, valued at $299,345. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.10% of the company’s stock.
Key Headlines Impacting Boeing
Here are the key news stories impacting Boeing this week:
- Positive Sentiment: Boeing’s return to China’s commercial market with a seven-aircraft freighter order from China Southern could support future backlog growth and signals renewed access to a key aviation market. Boeing (BA) Returns To China With Seven Plane Cargo Order From China Southern
- Positive Sentiment: China Development Bank Financial Leasing plans to add two Boeing 787-9s in a leaseback deal, reinforcing demand for Boeing widebody aircraft and helping sentiment around leasing activity. China Development Bank Financial Leasing to Add Two Boeing 787-9s in Leaseback Deal
- Positive Sentiment: Second-quarter results are set for July 28, giving investors a near-term event to assess cash flow, deliveries, and margin trends after a volatile period for the company. Boeing to Release Second Quarter Results on July 28
- Positive Sentiment: Coverage noting that Boeing and Airbus have secured roughly $80 billion in orders and are nearing pre-crisis delivery levels suggests strengthening industry demand, which could support sentiment toward BA. Boeing And Airbus: $80 Billion In Orders, Deliveries Near Pre-Crisis Levels
- Neutral Sentiment: Commentary about Boeing founder William Boeing in a broader article has little direct impact on near-term fundamentals. Fortune 500 founders’ children of immigrants
- Negative Sentiment: An unplanned IT outage disrupted computer systems and factory work from Washington to Florida, highlighting execution and production-risk issues that can pressure Boeing shares. Boeing Says ‘Unplanned IT Outage’ Hit Computer Systems as Factory Work From Washington to Florida was Disrupted
- Negative Sentiment: Reporting that parachute anomalies remain a risk for Starliner underscores ongoing program concerns, which may weigh on sentiment despite the stock’s recent strength. Parachute Anomalies Remain a Risk… Boeing Stock (NYSE:BA) Notches Up Despite Starliner Delay
- Negative Sentiment: Coverage of the still-missing Boeing 727 is mostly historical and reputational, but it adds little positive support for the stock. 23 Years Later, a Boeing 727 That Took off in Angola Is Still Missing
- Negative Sentiment: Contract talks beginning July 1 could create labor-related uncertainty, especially given Boeing’s recent history of difficult negotiations. Contract Talks Start July 1, Boeing Stock (NYSE:BA) Notches Up
Boeing Stock Performance
BA stock opened at $218.81 on Thursday. The company has a current ratio of 1.18, a quick ratio of 0.35 and a debt-to-equity ratio of 7.42. The firm has a market cap of $172.49 billion, a P/E ratio of 106.22 and a beta of 1.19. The Boeing Company has a 12-month low of $176.77 and a 12-month high of $254.35. The stock’s 50 day simple moving average is $223.57 and its 200 day simple moving average is $223.95.
Boeing (NYSE:BA – Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The aircraft producer reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.48. The business had revenue of $22.22 billion during the quarter, compared to analyst estimates of $22.15 billion. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.49) EPS. As a group, equities research analysts predict that The Boeing Company will post -0.15 EPS for the current year.
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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