Hoertkorn Richard Charles lowered its position in shares of The Boeing Company (NYSE:BA – Free Report) by 48.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,321 shares of the aircraft producer’s stock after selling 17,050 shares during the quarter. Boeing comprises 3.0% of Hoertkorn Richard Charles’ holdings, making the stock its 12th biggest position. Hoertkorn Richard Charles’ holdings in Boeing were worth $3,646,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of BA. Vanguard Group Inc. boosted its holdings in Boeing by 5.1% in 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 period. Newport Trust Company LLC increased its holdings in shares of Boeing by 1.0% during the fourth quarter. Newport Trust Company LLC now owns 29,485,294 shares of the aircraft producer’s stock worth $6,401,847,000 after purchasing an additional 286,848 shares during the period. Geode Capital Management LLC increased its holdings in shares of Boeing by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 17,025,435 shares of the aircraft producer’s stock worth $3,679,592,000 after purchasing an additional 533,753 shares during the period. Fisher Asset Management LLC raised its position in shares of Boeing by 2.5% in the fourth quarter. Fisher Asset Management LLC now owns 5,640,900 shares of the aircraft producer’s stock valued at $1,224,752,000 after buying an additional 135,860 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Boeing by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,370,415 shares of the aircraft producer’s stock valued at $948,905,000 after buying an additional 138,469 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.
Insider Buying and Selling at Boeing
In other Boeing news, Director Bradley D. Tilden purchased 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 purchase, the director owned 1,370 shares in the company, valued at approximately $299,345. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.10% of the company’s stock.
Boeing Stock Performance
Boeing (NYSE:BA – Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.48. The firm had revenue of $22.22 billion during the quarter, compared to the consensus estimate of $22.15 billion. During the same period last year, the business earned ($0.49) earnings per share. The business’s revenue was up 14.0% compared to the same quarter last year. As a group, research analysts expect that The Boeing Company will post -0.15 earnings per share for the current fiscal year.
Boeing News Roundup
Here are the key news stories impacting Boeing this week:
- Positive Sentiment: Boeing’s production recovery is still intact, with 737 output stabilized and plans to ramp higher, while certification progress on the 737-7/737-10 and 777-9 supports the longer-term turnaround story. Boeing (BA) Could Be 13% Undervalued As 737 MAX Output Ramps Up
- Positive Sentiment: Denmark said it will buy two Boeing P-8A Poseidon maritime patrol aircraft, reinforcing demand for Boeing’s defense business. Denmark to buy two maritime patrol aircraft from Boeing, defence ministry says
- Positive Sentiment: Philippine Airlines is reportedly considering a widebody order that could include about 10 Boeing 787s, which would support backlog and long-term deliveries. Philippine Airlines Eyes 20 Widebody Jets Split Between Boeing and Airbus
- Neutral Sentiment: Investor attention remains elevated around Boeing, but one Zacks item was mainly a sentiment/visibility note rather than a fundamental catalyst. Investors Heavily Search The Boeing Company (BA): Here is What You Need to Know
- Negative Sentiment: Two recent 737 MAX incidents on Southwest flights have put Boeing back in the spotlight and may renew concerns about product reliability and future inspections or delays. Boeing Co. (NYSE: BA)
- Negative Sentiment: Boeing also faces execution risk from wiring rework, 787 delays, and Spirit AeroSystems integration costs, which could pressure cash flow if problems persist. The Boeing Company Stock
Analyst Ratings Changes
Several equities research analysts recently issued reports on BA shares. Citigroup boosted their price target on Boeing from $256.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Tigress Financial raised their price objective on Boeing from $290.00 to $295.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Wells Fargo & Company began coverage on Boeing in a report on Wednesday, April 1st. They issued an “overweight” rating and a $250.00 price objective for the company. Wolfe Research reiterated an “outperform” rating and set a $275.00 target price on shares of Boeing in a research report on Thursday, April 23rd. Finally, Weiss Ratings lowered Boeing from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $261.61.
Read Our Latest Analysis 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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