Vantage Investment Partners LLC purchased a new position in shares of The Boeing Company (NYSE:BA – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,448 shares of the aircraft producer’s stock, valued at approximately $487,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in BA. Vanguard Group Inc. increased its holdings in Boeing by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 70,989,438 shares of the aircraft producer’s stock worth $15,413,227,000 after buying an additional 3,460,021 shares during the last quarter. Alyeska Investment Group L.P. grew its position 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 valued at $489,052,000 after acquiring an additional 1,600,909 shares during the period. Janus Henderson Group PLC grew its position in shares of Boeing by 43.1% in the 4th quarter. Janus Henderson Group PLC now owns 3,907,876 shares of the aircraft producer’s stock valued at $840,204,000 after acquiring an additional 1,176,074 shares during the period. Viking Global Investors LP increased its stake in shares of Boeing by 31.3% during the 4th quarter. Viking Global Investors LP now owns 3,953,087 shares of the aircraft producer’s stock worth $858,294,000 after purchasing an additional 942,536 shares during the last quarter. Finally, Diamant Asset Management Inc. increased its stake in shares of Boeing by 19,623.0% during the 1st quarter. Diamant Asset Management Inc. now owns 872,348 shares of the aircraft producer’s stock worth $173,623,000 after purchasing an additional 867,925 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.
Boeing Stock Performance
Shares of NYSE BA traded down $0.77 during mid-day trading on Friday, reaching $222.34. 3,825,758 shares of the company were exchanged, compared to its average volume of 5,207,274. The stock has a market capitalization of $175.27 billion, a P/E ratio of 107.93 and a beta of 1.21. The company has a quick ratio of 0.35, a current ratio of 1.18 and a debt-to-equity ratio of 7.42. The company’s 50-day simple moving average is $223.28 and its 200-day simple moving average is $224.79. The Boeing Company has a twelve month low of $176.77 and a twelve month high of $254.35.
Key Boeing News
Here are the key news stories impacting Boeing this week:
- Positive Sentiment: Boeing is set to open its fourth 737 MAX assembly line in Everett, Washington, signaling progress on a production ramp as demand for the jet stays strong. Market Chatter: Boeing Opens Fourth 737 MAX Assembly Line to Support Production Ramp
- Positive Sentiment: The FAA is expected to certify the 737 MAX 7 later this month, a key step that could unlock 258 delayed Southwest orders and help Boeing clear another major approval hurdle. Boeing’s MAX 7 Delay May Finally End
- Positive Sentiment: Reports also say the FAA may soon restore Boeing’s final 737 safety signoff authority, which would reduce a major bottleneck in deliveries. Boeing Nears 737 MAX 7 Approval as FAA Eyes Key Authority Restoration
- Positive Sentiment: Philippine Airlines is reportedly preparing to order 15 Boeing 787-10 aircraft, which would add to Boeing’s backlog and support long-term widebody demand. Philippine Air to order 15 Boeing 787-10 and nine Airbus A350-1000
- Neutral Sentiment: Boeing and Bahir Dar University announced a partnership to establish an aviation innovation center, a strategic initiative that is unlikely to move shares in the near term. Bahir Dar University and Boeing partner to establish Aviation Innovation Center
- Negative Sentiment: Two recent incidents involving Boeing 737 MAX aircraft have revived headline risk, with reports of a broken or detached window on a Ryanair flight that injured a passenger and forced an emergency landing. Boeing 737 Makes Emergency Landing After Broken Window Injures Passenger
- Negative Sentiment: A separate investigation linked a misplaced locking pin to a Boeing 787 nose gear collapse in Frankfurt, reinforcing concerns about quality control and oversight. German investigators link misplaced pin to Boeing 787 incident
Insider Activity at Boeing
In other 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, with a total value of $299,345.00. Following the completion of the transaction, the director owned 1,370 shares of the company’s stock, valued at $299,345. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.10% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the stock. Citigroup raised their target price on shares of Boeing from $256.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Tigress Financial upped their price objective on Boeing from $290.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Morgan Stanley raised their price objective on Boeing from $245.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, April 23rd. Wolfe Research reiterated an “outperform” rating and set a $275.00 target price on shares of Boeing in a research note 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 equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.61.
Read Our Latest Stock 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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