Pallas Capital Advisors LLC Makes New $1.69 Million Investment in The Boeing Company $BA

Pallas Capital Advisors LLC purchased a new stake in The Boeing Company (NYSE:BAFree Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,815 shares of the aircraft producer’s stock, valued at approximately $1,692,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Boeing by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 70,989,438 shares of the aircraft producer’s stock valued at $15,413,227,000 after acquiring an additional 3,460,021 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Boeing during the second quarter valued at approximately $747,763,000. Deutsche Bank AG bought a new stake in shares of Boeing in the 2nd quarter valued at approximately $539,456,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Boeing in the 2nd quarter worth approximately $441,997,000. Finally, Alyeska Investment Group L.P. raised its holdings in shares of Boeing by 245.7% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,252,450 shares of the aircraft producer’s stock worth $489,052,000 after buying an additional 1,600,909 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Down 2.2%

Shares of BA opened at $226.48 on Tuesday. The company has a market capitalization of $179.00 billion, a P/E ratio of 98.04 and a beta of 1.21. 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 Boeing Company has a one year low of $176.77 and a one year high of $254.35. The business’s 50 day simple moving average is $221.91 and its 200-day simple moving average is $222.66.

Boeing (NYSE:BAGet Free Report) last released its quarterly earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.42). Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.The business had revenue of $24.56 billion for the quarter, compared to the consensus estimate of $24.26 billion. During the same quarter last year, the company earned ($1.24) earnings per share. The firm’s revenue was up 8.0% on a year-over-year basis. As a group, sell-side analysts predict that The Boeing Company will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling

In other Boeing news, Director Bradley D. Tilden bought 1,370 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were bought 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 of the company’s stock, valued at approximately $299,345. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Tigress Financial boosted their price target on Boeing from $295.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. William Blair reiterated an “outperform” rating on shares of Boeing in a research note on Tuesday, July 28th. BNP Paribas Exane raised Boeing from an “underperform” rating to an “outperform” rating and lifted their price objective for the company from $230.00 to $300.00 in a report on Monday, August 3rd. Barclays downgraded shares of Boeing from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, August 11th. Finally, JPMorgan Chase & Co. upped their target price on shares of Boeing from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. One investment 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $272.58.

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About Boeing

(Free Report)

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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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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