Sigma Planning Corp raised its stake in shares of The Boeing Company (NYSE:BA – Free Report) by 10.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,230 shares of the aircraft producer’s stock after buying an additional 2,467 shares during the period. Sigma Planning Corp’s holdings in Boeing were worth $5,420,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Revolve Wealth Partners LLC acquired a new position in Boeing during the fourth quarter valued at approximately $201,000. Sivia Capital Partners LLC increased its holdings in shares of Boeing by 16.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,529 shares of the aircraft producer’s stock worth $320,000 after purchasing an additional 217 shares during the period. AXA S.A. raised its position in shares of Boeing by 1,225.7% during the second quarter. AXA S.A. now owns 34,655 shares of the aircraft producer’s stock valued at $7,261,000 after buying an additional 32,041 shares during the last quarter. Ieq Capital LLC raised its position in shares of Boeing by 243.8% during the second quarter. Ieq Capital LLC now owns 33,485 shares of the aircraft producer’s stock valued at $7,016,000 after buying an additional 23,746 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of Boeing by 4.2% in the second quarter. Alliancebernstein L.P. now owns 1,334,451 shares of the aircraft producer’s stock valued at $279,608,000 after buying an additional 53,736 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on BA shares. Morgan Stanley lifted their target price on Boeing from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 23rd. Weiss Ratings downgraded Boeing from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, April 24th. Btg Pactual set a $260.00 price objective on Boeing in a report on Tuesday. Wolfe Research restated an “outperform” rating and set a $275.00 price objective on shares of Boeing in a research report on Thursday, April 23rd. Finally, Citigroup boosted their price objective on Boeing from $256.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $261.53.
Insiders Place Their Bets
In other news, Director Bradley D. Tilden acquired 1,370 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of $218.50 per share, with a total value of $299,345.00. Following the completion of the purchase, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.10% of the company’s stock.
Key Stories Impacting Boeing
Here are the key news stories impacting Boeing this week:
- Positive Sentiment: Boeing reported its highest first-half aircraft deliveries since 2018, including 171 commercial and defense deliveries in Q2 and 314 jet deliveries through June, a sign that production and supply-chain execution are improving. Reuters article on Boeing records highest first-half deliveries since 2018
- Positive Sentiment: New aircraft demand also looks healthy, with Boeing benefiting from the global airline fleet renewal cycle and a large backlog that supports longer-term revenue visibility. Yahoo Finance article on Boeing benefit from global airline fleet renewal cycle
- Positive Sentiment: Media reports that Riyadh Air may place a larger Boeing order, and a WestJet lease for 13 Boeing 737-10 jets, suggest continued interest from airlines in Boeing’s narrow-body lineup. Yahoo Finance article on Boeing Eyes Bigger Riyadh Air Order
- Positive Sentiment: Boeing is also highlighting its defense and autonomous systems portfolio, including the MQ-28 Ghost Bat at Farnborough, which may help investor confidence in its non-commercial growth drivers. Yahoo Finance article on Boeing unveils MQ-28 Ghost Bat
- Neutral Sentiment: Morgan Stanley remained constructive on aerospace and defense ahead of Q2 earnings, citing resilient demand and improving aircraft production, though it noted stock volatility and valuation differences in the sector. Yahoo Finance article on Morgan Stanley stays bullish on aerospace
- Negative Sentiment: Reuters also reported that Boeing and Airbus had to charter a large cargo plane to move parts faster, underscoring lingering supply-chain bottlenecks that could still weigh on production schedules. Reuters article on Airbus and Boeing easing supply snags
Boeing Stock Up 0.6%
Shares of NYSE:BA opened at $218.41 on Thursday. The Boeing Company has a 52 week low of $176.77 and a 52 week high of $254.35. 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 company’s fifty day moving average is $222.63 and its 200-day moving average is $224.83. The company has a market capitalization of $172.18 billion, a PE ratio of 106.03 and a beta of 1.21.
Boeing (NYSE:BA – Get Free Report) last announced its earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share (EPS) 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 quarter last year, the business earned ($0.49) EPS. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. Equities research analysts predict that The Boeing Company will post -0.1 earnings per share for the current fiscal year.
Boeing 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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