Pinnacle Holdings LLC Takes Position in The Boeing Company $BA

Pinnacle Holdings LLC acquired a new position in shares of The Boeing Company (NYSE:BA – Free Report) in the second quarter, Holdings Channel reports. The institutional investor acquired 10,566 shares of the aircraft producer’s stock, valued at approximately $2,287,000.

Other hedge funds also recently made changes to their positions in the company. Measured Wealth Private Client Group LLC acquired a new stake in Boeing during the 3rd quarter valued at approximately $25,000. Strive Financial Group LLC acquired a new position in shares of Boeing in the 4th quarter worth approximately $25,000. Ares Financial Consulting LLC acquired a new position in shares of Boeing in the 4th quarter worth approximately $26,000. CrossGen Wealth LLC bought a new stake in shares of Boeing in the 4th quarter valued at $26,000. Finally, Strategic Wealth Advisors LLC bought a new stake in shares of Boeing in the 4th quarter valued at $27,000. 64.82% of the stock is currently owned by institutional investors.

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Boeing Price Performance

BA stock opened at $214.20 on Monday. The stock has a market capitalization of $169.30 billion, a PE ratio of 92.73 and a beta of 1.21. The company’s 50-day moving average is $222.11 and its 200-day moving average is $222.18. 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 1 year low of $176.77 and a 1 year high of $254.35.

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 net margin of 2.41% and a negative return on equity of 346.82%. The firm had revenue of $24.56 billion during the quarter, compared to analyst estimates of $24.26 billion. During the same quarter in the prior year, the business earned ($1.24) earnings per share. The business’s quarterly revenue was up 8.0% on a year-over-year basis. Equities research analysts expect that The Boeing Company will post -0.87 EPS for the current fiscal year.

Boeing News Roundup

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: The U.S. State Department approved a potential $4.5 billion sale of KC-46A tanker aircraft to Qatar. The approval supports Boeing’s defense backlog, although the transaction still requires finalization. US approves potential $4.5B sale of Boeing KC-46A tankers to Qatar
• Positive Sentiment: Boeing’s agreement to sell or transfer businesses including Wisk Aero, Insitu and SkyGrid to Archer Aviation, while taking a strategic stake in Archer, could generate cash and provide exposure to autonomous and electric aviation markets. However, the deal’s financial impact and execution remain uncertain. Archer Aviation bets big on becoming more than an air taxi company
• Neutral Sentiment: AerCap delivered its tenth Boeing 787 to Grupo Aeromexico, marking its 100th 787 delivery from its direct order book. The milestone signals continuing customer demand for the Dreamliner but is not a new Boeing order or immediate revenue catalyst. AerCap Holdings compared with Boeing
• Negative Sentiment: Voting ends on Boeing’s proposed four-year contract with the Society of Professional Engineering Employees in Aerospace, representing roughly 17,000 engineers and technical workers. A rejection could authorize a strike after the current contracts expire on October 6, raising concerns about production, certification and delivery schedules. Results were expected Friday afternoon. Boeing white-collar union contract vote results expected today
• Negative Sentiment: The labor uncertainty is outweighing recent operating progress, including higher commercial deliveries and efforts to increase 737 production. Investors appear concerned that a work stoppage could interrupt Boeing’s recovery. Boeing slides as labor vote uncertainty outweighs operational progress
• Negative Sentiment: Boeing is advancing repairs to Air Force One, but window replacement and interior work could threaten the program’s schedule, adding another execution risk to the company’s defense business. Boeing advances Air Force One repairs

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Btg Pactual set a $260.00 price objective on shares of Boeing in a research report on Tuesday, July 14th. Argus raised shares of Boeing from a “hold” rating to a “buy” rating and set a $265.00 price target on the stock in a research report on Tuesday, August 11th. Robert W. Baird set a $300.00 price target on Boeing in a report on Wednesday, July 29th. Wolfe Research lowered Boeing from an “outperform” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, Cantor Fitzgerald lowered Boeing to a “neutral” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and a consensus price target 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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