Evanson Financial LLC purchased a new position in shares of The Boeing Company (NYSE:BA – Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,389 shares of the aircraft producer’s stock, valued at approximately $517,000.
Several other large investors have also recently added to or reduced their stakes in the company. Princeton Capital Management LLC boosted its holdings in Boeing by 78.3% during the fourth quarter. Princeton Capital Management LLC now owns 12,249 shares of the aircraft producer’s stock worth $2,660,000 after buying an additional 5,381 shares in the last quarter. Rakuten Investment Management Inc. increased its holdings in Boeing by 502.3% in 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 in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Boeing during the 1st quarter valued at approximately $7,961,000. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Boeing by 103.8% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 11,240 shares of the aircraft producer’s stock valued at $2,237,000 after acquiring an additional 5,726 shares during the period. Finally, Deutsche Bank AG boosted its stake in shares of Boeing by 47.5% during the 4th quarter. Deutsche Bank AG now owns 2,376,243 shares of the aircraft producer’s stock worth $515,930,000 after acquiring an additional 765,197 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on BA shares. Btg Pactual set a $260.00 price target on Boeing in a report on Tuesday, July 14th. Tigress Financial lifted their price objective on Boeing from $295.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday. Morgan Stanley boosted 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. BNP Paribas Exane raised Boeing from an “underperform” rating to an “outperform” rating and upped their target price for the company from $230.00 to $300.00 in a report on Monday. Finally, UBS Group restated a “buy” rating on shares of Boeing in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and a consensus target price of $273.00.
Key Stories Impacting Boeing
Here are the key news stories impacting Boeing this week:
- Positive Sentiment: The FAA approved Boeing’s 737 MAX 7 for commercial service after a lengthy certification process. The approval allows Boeing to begin delivering completed aircraft and removes a major bottleneck for its backlog, supporting expectations for higher revenue, deliveries and cash generation. Boeing Wins 737 MAX 7 Approval
- Positive Sentiment: Analyst optimism is providing another tailwind. Tigress Financial raised its price target on BA from $295 to $305 and reiterated a “buy” rating, citing the company’s operational acceleration and the potential benefits of the MAX 7 rollout. Boeing Price Target Raised
- Positive Sentiment: Recent coverage points to improving production, deliveries and cash-flow prospects as Boeing moves past manufacturing disruptions and regulatory restrictions. Jim Cramer’s earlier bullish view on a turnaround is being highlighted after BA’s recent rally, although his comments are primarily sentiment-driven rather than a new fundamental catalyst. Jim Cramer on Boeing
- Neutral Sentiment: BA has gained roughly 8% this week following the MAX 7 approval, but its longer-term performance remains more muted. At about $234, the stock is near the upper portion of its 52-week range, with a forward-looking turnaround narrative already reflected in a high valuation.
- Negative Sentiment: The FAA ordered inspections of 471 737-8, 737-9 and 737-8200 aircraft after identifying possible cracks near a service-door structural reinforcement. Boeing supports the directive and says the issue has not been observed in the MAX fleet, but required inspections and any repairs could increase costs, delay aircraft and revive concerns about Boeing’s quality controls. FAA Probe Into Boeing 737 Jets
Insiders Place Their Bets
In related news, Director Bradley D. Tilden purchased 1,370 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was bought at an average cost of $218.50 per share, with a total value of $299,345.00. Following the completion of the acquisition, the director directly owned 1,370 shares in the company, valued at $299,345. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.10% of the company’s stock.
Boeing Stock Up 1.0%
BA stock opened at $234.48 on Friday. The company has a debt-to-equity ratio of 6.77, a current ratio of 1.14 and a quick ratio of 0.33. The company’s 50 day simple moving average is $220.24 and its 200-day simple moving average is $223.61. The Boeing Company has a 12 month low of $176.77 and a 12 month high of $254.35. The firm has a market capitalization of $185.33 billion, a PE ratio of 101.51 and a beta of 1.21.
Boeing (NYSE:BA – Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.42). Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.The company had revenue of $24.56 billion for the quarter, compared to analyst estimates of $24.26 billion. During the same quarter in the prior year, the firm earned ($1.24) earnings per share. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. Equities analysts expect that The Boeing Company will post -0.88 earnings per share for the current fiscal 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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