Staley Capital Advisers Inc. raised its holdings in The Boeing Company (NYSE:BA – Free Report) by 6.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 335,366 shares of the aircraft producer’s stock after purchasing an additional 19,848 shares during the period. Boeing comprises approximately 2.8% of Staley Capital Advisers Inc.’s holdings, making the stock its 12th largest holding. Staley Capital Advisers Inc.’s holdings in Boeing were worth $66,748,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its position in shares of Boeing by 41.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 223,824 shares of the aircraft producer’s stock valued at $48,316,000 after acquiring an additional 65,216 shares in the last quarter. Princeton Capital Management LLC boosted its holdings in Boeing by 78.3% in the fourth quarter. Princeton Capital Management LLC now owns 12,249 shares of the aircraft producer’s stock worth $2,660,000 after purchasing an additional 5,381 shares during the period. Louisiana State Employees Retirement System bought a new stake in Boeing during the first quarter valued at $7,961,000. Rakuten Investment Management Inc. increased its stake in 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 purchasing an additional 85,982 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Boeing during the fourth quarter worth $55,787,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
BA has been the subject of several research reports. Tigress Financial lifted their price target on shares of Boeing from $290.00 to $295.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Morgan Stanley increased their price objective on shares of Boeing from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 23rd. Wolfe Research reissued an “outperform” rating and issued a $275.00 target price on shares of Boeing in a report on Thursday, April 23rd. Wells Fargo & Company initiated coverage on Boeing in a research note on Wednesday, April 1st. They issued an “overweight” rating and a $250.00 target price for the company. Finally, Weiss Ratings lowered Boeing from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $261.61.
Insider Buying and Selling
In related news, Director Bradley D. Tilden purchased 1,370 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $299,345. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.10% of the company’s stock.
Boeing Trading Down 3.0%
Shares of NYSE:BA opened at $224.67 on Thursday. The company has a market cap of $177.11 billion, a PE ratio of 109.06 and a beta of 1.21. The company’s 50-day moving average price is $223.46 and its 200 day moving average price is $224.74. The Boeing Company has a fifty-two week low of $176.77 and a fifty-two week high of $254.35. The company has a quick ratio of 0.35, a current ratio of 1.18 and a debt-to-equity ratio of 7.42.
Boeing (NYSE:BA – Get Free Report) last posted its earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) EPS 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 the consensus estimate of $22.15 billion. During the same quarter last year, the company posted ($0.49) EPS. Boeing’s revenue for the quarter was up 14.0% on a year-over-year basis. Sell-side analysts anticipate that The Boeing Company will post -0.15 earnings per share for the current year.
More Boeing News
Here are the key news stories impacting Boeing this week:
- Positive Sentiment: Boeing’s production recovery is still intact, with 737 output stabilized and plans to ramp higher, while certification progress on the 737-7/737-10 and 777-9 supports the longer-term turnaround story. Boeing (BA) Could Be 13% Undervalued As 737 MAX Output Ramps Up
- Positive Sentiment: Denmark said it will buy two Boeing P-8A Poseidon maritime patrol aircraft, reinforcing demand for Boeing’s defense business. Denmark to buy two maritime patrol aircraft from Boeing, defence ministry says
- Positive Sentiment: Philippine Airlines is reportedly considering a widebody order that could include about 10 Boeing 787s, which would support backlog and long-term deliveries. Philippine Airlines Eyes 20 Widebody Jets Split Between Boeing and Airbus
- Neutral Sentiment: Investor attention remains elevated around Boeing, but one Zacks item was mainly a sentiment/visibility note rather than a fundamental catalyst. Investors Heavily Search The Boeing Company (BA): Here is What You Need to Know
- Negative Sentiment: Two recent 737 MAX incidents on Southwest flights have put Boeing back in the spotlight and may renew concerns about product reliability and future inspections or delays. Boeing Co. (NYSE: BA)
- Negative Sentiment: Boeing also faces execution risk from wiring rework, 787 delays, and Spirit AeroSystems integration costs, which could pressure cash flow if problems persist. The Boeing Company 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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