International Assets Investment Management LLC reduced its position in shares of The Boeing Company (NYSE:BA – Free Report) by 30.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,165 shares of the aircraft producer’s stock after selling 15,990 shares during the period. International Assets Investment Management LLC’s holdings in Boeing were worth $7,198,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in BA. Purus Wealth Management LLC increased its holdings in Boeing by 3.6% in the fourth quarter. Purus Wealth Management LLC now owns 1,177 shares of the aircraft producer’s stock valued at $256,000 after purchasing an additional 41 shares during the period. West Wealth Group LLC increased its stake in shares of Boeing by 0.6% in the fourth quarter. West Wealth Group LLC now owns 7,279 shares of the aircraft producer’s stock valued at $1,581,000 after buying an additional 42 shares during the period. First Heartland Consultants Inc. increased its stake in shares of Boeing by 1.1% in the fourth quarter. First Heartland Consultants Inc. now owns 4,062 shares of the aircraft producer’s stock valued at $882,000 after buying an additional 43 shares during the period. XML Financial LLC lifted its stake in shares of Boeing by 0.5% in the fourth quarter. XML Financial LLC now owns 8,905 shares of the aircraft producer’s stock worth $1,933,000 after acquiring an additional 43 shares during the period. Finally, Global Financial Private Client LLC boosted its holdings in Boeing by 1.1% in the fourth quarter. Global Financial Private Client LLC now owns 4,025 shares of the aircraft producer’s stock valued at $874,000 after acquiring an additional 44 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Boeing news, Director Bradley D. Tilden acquired 1,370 shares of the stock in a transaction on Wednesday, May 20th. The shares were purchased at an average price of $218.50 per share, for a total transaction of $299,345.00. Following the completion of the acquisition, the director owned 1,370 shares in the company, valued at approximately $299,345. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.10% of the company’s stock.
Wall Street Analyst Weigh In
Read Our Latest Research Report on Boeing
Boeing Stock Down 0.3%
Boeing stock traded down $0.77 during midday trading on Friday, reaching $222.34. The stock had a trading volume of 3,825,758 shares, compared to its average volume of 5,207,274. The company has a fifty day moving average price of $223.28 and a two-hundred day moving average price of $224.79. The Boeing Company has a 12 month low of $176.77 and a 12 month high of $254.35. 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 company has a market capitalization of $175.27 billion, a P/E ratio of 107.93 and a beta of 1.21.
Boeing (NYSE:BA – Get Free Report) last issued its earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.48. The firm had revenue of $22.22 billion for the quarter, compared to analyst estimates of $22.15 billion. During the same period in the previous year, the company earned ($0.49) earnings per share. Boeing’s revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, equities analysts expect that The Boeing Company will post -0.1 EPS for the current fiscal year.
Boeing News Roundup
Here are the key news stories impacting Boeing this week:
- Positive Sentiment: Boeing is set to open its fourth 737 MAX assembly line in Everett, Washington, signaling progress on a production ramp as demand for the jet stays strong. Market Chatter: Boeing Opens Fourth 737 MAX Assembly Line to Support Production Ramp
- Positive Sentiment: The FAA is expected to certify the 737 MAX 7 later this month, a key step that could unlock 258 delayed Southwest orders and help Boeing clear another major approval hurdle. Boeing’s MAX 7 Delay May Finally End
- Positive Sentiment: Reports also say the FAA may soon restore Boeing’s final 737 safety signoff authority, which would reduce a major bottleneck in deliveries. Boeing Nears 737 MAX 7 Approval as FAA Eyes Key Authority Restoration
- Positive Sentiment: Philippine Airlines is reportedly preparing to order 15 Boeing 787-10 aircraft, which would add to Boeing’s backlog and support long-term widebody demand. Philippine Air to order 15 Boeing 787-10 and nine Airbus A350-1000
- Neutral Sentiment: Boeing and Bahir Dar University announced a partnership to establish an aviation innovation center, a strategic initiative that is unlikely to move shares in the near term. Bahir Dar University and Boeing partner to establish Aviation Innovation Center
- Negative Sentiment: Two recent incidents involving Boeing 737 MAX aircraft have revived headline risk, with reports of a broken or detached window on a Ryanair flight that injured a passenger and forced an emergency landing. Boeing 737 Makes Emergency Landing After Broken Window Injures Passenger
- Negative Sentiment: A separate investigation linked a misplaced locking pin to a Boeing 787 nose gear collapse in Frankfurt, reinforcing concerns about quality control and oversight. German investigators link misplaced pin to Boeing 787 incident
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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