Verition Fund Management LLC decreased its holdings in shares of The Boeing Company (NYSE:BA – Free Report) by 33.2% in the 4th quarter, HoldingsChannel reports. The firm owned 70,098 shares of the aircraft producer’s stock after selling 34,798 shares during the period. Verition Fund Management LLC’s holdings in Boeing were worth $15,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in 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 purchasing an additional 3,460,021 shares during the last quarter. Newport Trust Company LLC lifted its holdings in Boeing by 1.0% during the 4th quarter. Newport Trust Company LLC now owns 29,485,294 shares of the aircraft producer’s stock valued at $6,401,847,000 after purchasing an additional 286,848 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Boeing by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 17,025,435 shares of the aircraft producer’s stock valued at $3,679,592,000 after purchasing an additional 533,753 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Boeing by 2.5% during the 4th quarter. Fisher Asset Management LLC now owns 5,640,900 shares of the aircraft producer’s stock valued at $1,224,752,000 after purchasing an additional 135,860 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Boeing by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,370,415 shares of the aircraft producer’s stock valued at $948,905,000 after purchasing an additional 138,469 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.
Boeing Stock Up 4.6%
Shares of NYSE BA opened at $229.22 on Tuesday. The company has a debt-to-equity ratio of 7.42, a quick ratio of 0.35 and a current ratio of 1.18. The Boeing Company has a 52 week low of $176.77 and a 52 week high of $254.35. The stock has a market capitalization of $180.70 billion, a P/E ratio of 111.27 and a beta of 1.20. The stock’s fifty day moving average is $223.20 and its 200 day moving average is $222.01.
Insider Activity at Boeing
In related news, Director Bradley D. Tilden purchased 1,370 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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 document filed with the SEC, which is available through this link. Insiders own 0.10% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have issued reports on BA. Wells Fargo & Company began coverage on Boeing in a report on Wednesday, April 1st. They set an “overweight” rating and a $250.00 price target for the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of Boeing in a report on Wednesday, March 4th. Wolfe Research reaffirmed an “outperform” rating and set a $275.00 price target on shares of Boeing in a report on Thursday, April 23rd. Tigress Financial increased their price objective on Boeing from $290.00 to $295.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Citigroup increased their price objective on Boeing from $256.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $262.32.
Get Our Latest Stock Analysis on BA
Key Headlines Impacting Boeing
Here are the key news stories impacting Boeing this week:
- Positive Sentiment: Falling oil prices and a broad risk-on rally tied to the U.S.-Iran ceasefire improved sentiment across aerospace and airline names, helping boost Boeing stock. Stock Market Today: Dow Jumps 600 Points On U.S.-Iran Deal; Chip Companies, Boeing Take Off (Live Coverage)
- Positive Sentiment: Reports that Boeing is out of the U.S. Navy trainer competition may be viewed as a disciplined move to focus on higher-value programs and preserve capital for core production and defense priorities. Boeing Out of United States Navy Trainer Program, Boeing Stock (NYSE:BA) Jumps
- Positive Sentiment: Recent operational updates show Boeing investing $2.35 billion to expand capacity in Wichita, Kansas, while May aircraft deliveries improved and the U.S. Air Force backed Boeing’s updated KC-46A tanker vision system, supporting the case for improving execution in both commercial and defense businesses. Boeing Updates Capacity And Defense Progress As Shares Trade Below Targets
- Neutral Sentiment: Social-media and market commentary continues to point to production-ramp hopes and FAA approval expectations as potential longer-term catalysts, but near-term volatility remains tied to delivery timing and program execution. Boeing Stock (BA) Opinions on Production Ramp and FAA Approvals
About Boeing
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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