K.J. Harrison & Partners Inc acquired a new position in shares of The Boeing Company (NYSE:BA – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 11,355 shares of the aircraft producer’s stock, valued at approximately $2,458,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Revolve Wealth Partners LLC purchased a new position in shares of Boeing during the 4th quarter valued at about $201,000. Sivia Capital Partners LLC boosted its stake in Boeing by 16.5% in the second quarter. Sivia Capital Partners LLC now owns 1,529 shares of the aircraft producer’s stock worth $320,000 after buying an additional 217 shares in the last quarter. AXA S.A. boosted its stake in Boeing by 1,225.7% in the second quarter. AXA S.A. now owns 34,655 shares of the aircraft producer’s stock worth $7,261,000 after buying an additional 32,041 shares in the last quarter. Ieq Capital LLC grew its position in 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 acquiring an additional 23,746 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in Boeing by 4.2% during the second quarter. Alliancebernstein L.P. now owns 1,334,451 shares of the aircraft producer’s stock valued at $279,608,000 after acquiring an additional 53,736 shares during the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Boeing
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 price of $218.50 per share, for a total transaction of $299,345.00. Following the completion of the transaction, the director owned 1,370 shares of the company’s stock, valued at $299,345. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is currently owned by company insiders.
Boeing Stock Performance
Boeing (NYSE:BA – Get Free Report) last issued 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). Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.The firm had revenue of $24.56 billion during the quarter, compared to analysts’ expectations of $24.26 billion. During the same period in the previous year, the firm earned ($1.24) earnings per share. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. Equities research analysts predict that The Boeing Company will post -0.87 earnings per share for the current year.
Wall Street Analyst Weigh In
BA has been the subject of a number of recent research reports. Cantor Fitzgerald lowered shares of Boeing to a “neutral” rating in a report on Tuesday, August 11th. Tigress Financial increased their target price on shares of Boeing from $295.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. lifted their target price on shares of Boeing from $270.00 to $290.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Barclays downgraded shares of Boeing from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, August 11th. Finally, Robert W. Baird set a $300.00 price objective on Boeing in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $272.58.
Read Our Latest Stock Report on BA
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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