Sterling Investment Management LLC lifted its stake in shares of The Boeing Company (NYSE:BA – Free Report) by 363.4% during the third quarter, Holdings Channel reports. The fund owned 46,885 shares of the aircraft producer’s stock after purchasing an additional 36,768 shares during the quarter. Boeing comprises 4.1% of Sterling Investment Management LLC’s portfolio, making the stock its 6th biggest holding. Sterling Investment Management LLC’s holdings in Boeing were worth $8,723,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Highland Investment Advisors LLC acquired a new position in Boeing in the 2nd quarter valued at about $26,000. Strategic Wealth Advisors LLC purchased a new position in Boeing in the 2nd quarter valued at about $27,000. Retirement Wealth Solutions LLC lifted its holdings in Boeing by 3,575.0% in the 3rd quarter. Retirement Wealth Solutions LLC now owns 147 shares of the aircraft producer’s stock valued at $27,000 after purchasing an additional 143 shares in the last quarter. Bayban purchased a new position in Boeing in the 4th quarter valued at about $29,000. Finally, Bell Investment Advisors Inc acquired a new stake in shares of Boeing during the 2nd quarter worth about $29,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.
More Boeing News
Here are the key news stories impacting Boeing this week:
- Positive Sentiment: Boeing is reportedly in discussions with Cathay Pacific over a potential order for as many as 50 wide-body aircraft. Although Cathay is also considering Airbus, a win would strengthen Boeing’s backlog and support future production and deliveries. Boeing Heads Into Talks Over Up To 50 Wide Body Jets
- Positive Sentiment: Southwest Airlines is reportedly considering another Boeing purchase, adding to recent commercial-aircraft deal momentum and potentially supporting Boeing’s order pipeline. Boeing Stock Gains as Southwest Considers Buy
- Positive Sentiment: Boeing averted a possible engineers’ strike after new contracts were signed, reducing a near-term operational disruption risk. Boeing Strike Deadline and New Contracts
- Positive Sentiment: Barclays maintained an optimistic outlook, with a $300 price target implying substantial upside and citing Boeing’s improving revenue trajectory. Barclays Sees Upside in Boeing Stock
- Neutral Sentiment: Board members with deeper aviation expertise could help Boeing shape its next-generation aircraft strategy, though the benefit is longer term. Boeing’s Boardroom Strategy
- Negative Sentiment: Chief Sales Officer Ihssane Mounir McMullen plans to retire, creating a leadership transition in a critical commercial-sales role. Boeing Sales Chief to Retire
- Negative Sentiment: Morgan Stanley cut its price target from $250 to $225, while retaining a Buy rating. RBC also reduced its target from $265 to $235, citing defense-budget uncertainty. Morgan Stanley Boeing Price Target
- Negative Sentiment: A separate risk-reward assessment assigned Boeing a low score and a Sell rating, underscoring valuation, balance-sheet and execution concerns. Boeing Risk-Reward Assessment
Boeing Price Performance
Shares of NYSE:BA opened at $189.98 on Friday. The company has a market cap of $150.16 billion, a P/E ratio of 82.24 and a beta of 1.26. The business has a fifty day simple moving average of $204.93 and a 200-day simple moving average of $215.57. The Boeing Company has a 52 week low of $176.77 and a 52 week high of $254.35. The company has a quick ratio of 0.33, a current ratio of 1.14 and a debt-to-equity ratio of 6.77.
Boeing (NYSE:BA – Get Free Report) last released its earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share 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 business had revenue of $24.56 billion for the quarter, compared to analysts’ expectations of $24.26 billion. During the same quarter last year, the company posted ($1.24) earnings per share. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. Equities research analysts forecast that The Boeing Company will post -0.96 EPS for the current year.
Analysts Set New Price Targets
A number of brokerages have recently commented on BA. TD Cowen lowered their price target on shares of Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a report on Friday, October 9th. Royal Bank Of Canada cut their price objective on shares of Boeing from $265.00 to $235.00 and set an “outperform” rating for the company in a research report on Thursday. BNP Paribas Exane raised shares of Boeing from an “underperform” rating to an “outperform” rating and upped their price objective for the company from $230.00 to $300.00 in a research note on Monday, August 3rd. Wolfe Research raised shares of Boeing from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 24th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Boeing in a research report on Sunday, September 27th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and a consensus target price of $266.96.
View Our Latest Research Report on BA
About Boeing
The Boeing Company (NYSE: BA) is a global aerospace company that designs, manufactures and supports commercial airplanes, military aircraft, satellites, space systems and related products and services. Its offerings serve airlines, government agencies, defense organizations and other customers worldwide.
Boeing operates through three principal business areas: Commercial Airplanes, which develops and produces passenger and cargo aircraft; Defense, Space & Security, which provides military aircraft, weapons systems, satellites and space-related platforms; and Global Services, which offers parts, maintenance, training, engineering and other lifecycle support.
Founded in 1916 by William Boeing, the company has grown into one of the world’s major aerospace manufacturers.
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