Focused Wealth Management Inc purchased a new stake in shares of The Boeing Company (NYSE:BA – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,202 shares of the aircraft producer’s stock, valued at approximately $910,000.
Several other large investors have also recently modified their holdings of the stock. Measured Wealth Private Client Group LLC purchased a new stake in Boeing during the 3rd quarter valued at about $25,000. Strive Financial Group LLC purchased a new position in Boeing in the fourth quarter worth about $25,000. Ares Financial Consulting LLC purchased a new position in Boeing in the fourth quarter worth about $26,000. CrossGen Wealth LLC bought a new position in shares of Boeing in the fourth quarter worth approximately $26,000. Finally, Strategic Wealth Advisors LLC bought a new position in shares of Boeing in the fourth quarter worth approximately $27,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on BA. Btg Pactual set a $260.00 price target on shares of Boeing in a report on Tuesday, July 14th. BNP Paribas Exane upgraded shares of Boeing from an “underperform” rating to an “outperform” rating and boosted their price objective for the stock from $230.00 to $300.00 in a report on Monday, August 3rd. JPMorgan Chase & Co. upped their price objective on Boeing from $270.00 to $290.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Royal Bank Of Canada reduced their target price on Boeing from $275.00 to $265.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Finally, The Goldman Sachs Group cut Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $272.58.
Boeing Stock Performance
Shares of NYSE BA opened at $226.48 on Tuesday. The firm has a 50 day moving average of $221.91 and a 200 day moving average of $222.66. The Boeing Company has a 12-month low of $176.77 and a 12-month high of $254.35. The company has a current ratio of 1.14, a quick ratio of 0.33 and a debt-to-equity ratio of 6.77. The firm has a market capitalization of $179.00 billion, a price-to-earnings ratio of 98.04 and a beta of 1.21.
Boeing (NYSE:BA – Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.42). The company had revenue of $24.56 billion during the quarter, compared to analysts’ expectations of $24.26 billion. Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.24) EPS. On average, research analysts anticipate that The Boeing Company will post -0.87 earnings per share for the current year.
Insiders Place Their Bets
In related news, Director Bradley D. Tilden bought 1,370 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average cost of $218.50 per share, with a total value of $299,345.00. Following the completion of the purchase, the director owned 1,370 shares of the company’s stock, valued at approximately $299,345. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.10% of the company’s stock.
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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