Hardy Reed LLC acquired a new position in shares of The Boeing Company (NYSE:BA – Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 8,235 shares of the aircraft producer’s stock, valued at approximately $1,783,000.
Several other hedge funds also recently bought and sold shares of BA. Princeton Capital Management LLC grew its stake in shares of 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 acquiring an additional 5,381 shares in the last quarter. Rakuten Investment Management Inc. raised its stake in shares of 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 acquiring an additional 85,982 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Boeing in the first quarter valued at $7,961,000. Patriot Financial Group Insurance Agency LLC boosted its holdings in Boeing by 103.8% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 11,240 shares of the aircraft producer’s stock valued at $2,237,000 after purchasing an additional 5,726 shares during the period. Finally, Deutsche Bank AG boosted its holdings in Boeing by 47.5% in the fourth quarter. Deutsche Bank AG now owns 2,376,243 shares of the aircraft producer’s stock valued at $515,930,000 after purchasing an additional 765,197 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.
Analysts Set New Price Targets
Several research analysts recently commented on BA shares. Argus raised Boeing from a “hold” rating to a “buy” rating and set a $265.00 target price for the company in a research note on Tuesday. Tigress Financial increased their price target on Boeing from $295.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Wolfe Research cut Boeing from an “outperform” rating to a “hold” rating in a research note on Tuesday. Morgan Stanley boosted their price objective on Boeing from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 23rd. Finally, The Goldman Sachs Group lowered shares of Boeing from a “buy” rating to a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and an average target price of $272.58.
Insider Activity at Boeing
In other Boeing news, Director Bradley D. Tilden acquired 1,370 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average price of $218.50 per share, for a total transaction of $299,345.00. Following the acquisition, the director owned 1,370 shares in the company, valued at $299,345. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.10% of the company’s stock.
Boeing Stock Performance
Shares of BA stock opened at $231.50 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.33 and a debt-to-equity ratio of 6.77. The firm has a fifty day moving average price of $221.70 and a 200 day moving average price of $222.97. The company has a market cap of $182.97 billion, a P/E ratio of 100.21 and a beta of 1.21. The Boeing Company has a 12 month low of $176.77 and a 12 month high of $254.35.
Boeing (NYSE:BA – Get Free Report) last posted its earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.42). The business had revenue of $24.56 billion during the quarter, compared to analysts’ expectations of $24.26 billion. Boeing had a net margin of 2.41% and a negative return on equity of 346.82%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the company earned ($1.24) EPS. Sell-side analysts predict that The Boeing Company will post -0.87 earnings per share for the current fiscal year.
Key Boeing News
Here are the key news stories impacting Boeing this week:
- Positive Sentiment: The Pentagon signed framework agreements with Boeing and RTX to increase production of components for SM-3 Block IIA and Block IB interceptor missiles. The seven-year arrangements could provide greater visibility for Boeing’s defense business and support incremental revenue, helping drive the stock higher. Pentagon signs deals with Boeing and RTX
- Positive Sentiment: Boeing is selling Wisk Aero, Insitu and SkyGrid to Archer Aviation in an all-stock transaction that gives Boeing an approximately 20% stake in Archer. Analysts view the deal as a way to exit a struggling, non-core air-taxi operation while retaining exposure to autonomy and electric-aircraft technologies, potentially sharpening Boeing’s turnaround focus. Boeing’s Wisk sale and portfolio strategy
- Positive Sentiment: Avolon agreed to lease up to seven Boeing 737-8200 aircraft to India’s Akasa Air. The transaction supports continued demand for Boeing’s narrow-body aircraft in one of the aviation industry’s fastest-growing markets. Avolon and Akasa Air 737 transaction
- Neutral Sentiment: Odysight.ai received a Boeing purchase order and will demonstrate AI-powered predictive-maintenance technology at two Boeing sites. The initiative could improve future maintenance capabilities and create supplier opportunities, but its immediate financial impact on BA is expected to be limited. Odysight.ai Boeing purchase order
- Neutral Sentiment: JLL is considering Boeing’s former Chicago headquarters for a potential global headquarters move. The move could benefit Boeing through property monetization or reduced real-estate obligations, though no transaction has been finalized. JLL considers Boeing’s former headquarters
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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