Wealth Effects LLC bought a new position in The Boeing Company (NYSE:BA – Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 11,906 shares of the aircraft producer’s stock, valued at approximately $2,577,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of 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 purchasing an additional 3,460,021 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Boeing in the second quarter valued at approximately $747,763,000. Alyeska Investment Group L.P. raised its stake in Boeing by 245.7% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,252,450 shares of the aircraft producer’s stock valued at $489,052,000 after purchasing an additional 1,600,909 shares in the last quarter. Janus Henderson Group PLC lifted its position in Boeing by 43.1% during the fourth quarter. Janus Henderson Group PLC now owns 3,907,876 shares of the aircraft producer’s stock valued at $840,204,000 after purchasing an additional 1,176,074 shares during the last quarter. Finally, Viking Global Investors LP lifted its position in Boeing by 31.3% during the fourth quarter. Viking Global Investors LP now owns 3,953,087 shares of the aircraft producer’s stock valued at $858,294,000 after purchasing an additional 942,536 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on BA. Robert W. Baird set a $300.00 price target on shares of Boeing in a report on Wednesday, July 29th. UBS Group began coverage on shares of Boeing in a report on Tuesday, August 11th. They set a “buy” rating for the company. Tigress Financial increased their target price on Boeing from $295.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. William Blair restated an “outperform” rating on shares of Boeing in a research report on Tuesday, July 28th. Finally, Sanford C. Bernstein initiated coverage on Boeing in a research note on Tuesday, August 11th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $272.58.
Insider Transactions at Boeing
In other Boeing news, Director Bradley D. Tilden purchased 1,370 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average cost of $218.50 per share, for a total transaction of $299,345.00. Following the completion of the transaction, the director directly owned 1,370 shares in the company, valued at approximately $299,345. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.10% of the stock is currently owned by insiders.
Key Headlines Impacting Boeing
Here are the key news stories impacting Boeing this week:
- Positive Sentiment: The Pentagon signed framework agreements with Boeing and RTX to increase production of components for SM-3 Block IIA and Block IB interceptor missiles. The seven-year arrangements could provide greater visibility for Boeing’s defense business and support incremental revenue, helping drive the stock higher. Pentagon signs deals with Boeing and RTX
- Positive Sentiment: Boeing is selling Wisk Aero, Insitu and SkyGrid to Archer Aviation in an all-stock transaction that gives Boeing an approximately 20% stake in Archer. Analysts view the deal as a way to exit a struggling, non-core air-taxi operation while retaining exposure to autonomy and electric-aircraft technologies, potentially sharpening Boeing’s turnaround focus. Boeing’s Wisk sale and portfolio strategy
- Positive Sentiment: Avolon agreed to lease up to seven Boeing 737-8200 aircraft to India’s Akasa Air. The transaction supports continued demand for Boeing’s narrow-body aircraft in one of the aviation industry’s fastest-growing markets. Avolon and Akasa Air 737 transaction
- Neutral Sentiment: Odysight.ai received a Boeing purchase order and will demonstrate AI-powered predictive-maintenance technology at two Boeing sites. The initiative could improve future maintenance capabilities and create supplier opportunities, but its immediate financial impact on BA is expected to be limited. Odysight.ai Boeing purchase order
- Neutral Sentiment: JLL is considering Boeing’s former Chicago headquarters for a potential global headquarters move. The move could benefit Boeing through property monetization or reduced real-estate obligations, though no transaction has been finalized. JLL considers Boeing’s former headquarters
Boeing Trading Down 0.1%
Shares of BA opened at $231.50 on Monday. The firm has a market cap of $182.97 billion, a price-to-earnings ratio of 100.21 and a beta of 1.21. The company has a debt-to-equity ratio of 6.77, a quick ratio of 0.33 and a current ratio of 1.14. The Boeing Company has a fifty-two week low of $176.77 and a fifty-two week high of $254.35. The firm has a 50 day moving average price of $221.70 and a 200-day moving average price of $222.79.
Boeing (NYSE:BA – Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.42). The business had revenue of $24.56 billion during the quarter, compared to analysts’ expectations of $24.26 billion. Boeing had a net margin of 2.41% and a negative return on equity of 346.82%. Boeing’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the company posted ($1.24) EPS. As a group, equities research analysts forecast that The Boeing Company will post -0.87 earnings per share for the current year.
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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