Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in The Boeing Company (NYSE:BA – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,041,841 shares of the aircraft producer’s stock, valued at approximately $441,997,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.26% of Boeing at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Princeton Capital Management LLC boosted its stake in shares of Boeing by 78.3% during the 4th quarter. Princeton Capital Management LLC now owns 12,249 shares of the aircraft producer’s stock worth $2,660,000 after acquiring an additional 5,381 shares in the last quarter. Rakuten Investment Management Inc. grew its holdings in shares of Boeing by 502.3% in the 4th quarter. Rakuten Investment Management Inc. now owns 103,099 shares of the aircraft producer’s stock worth $22,398,000 after acquiring an additional 85,982 shares during the period. Louisiana State Employees Retirement System purchased a new position in Boeing in the 1st quarter valued at approximately $7,961,000. Patriot Financial Group Insurance Agency LLC increased its stake in Boeing by 103.8% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 11,240 shares of the aircraft producer’s stock valued at $2,237,000 after purchasing an additional 5,726 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in Boeing by 47.5% during the fourth quarter. Deutsche Bank AG now owns 2,376,243 shares of the aircraft producer’s stock worth $515,930,000 after purchasing an additional 765,197 shares during the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts have commented on BA shares. Robert W. Baird set a $300.00 target price on Boeing in a research report on Wednesday, July 29th. Morgan Stanley raised their price target on Boeing from $245.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, April 23rd. Barclays downgraded Boeing from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, August 11th. BNP Paribas Exane raised shares of Boeing from an “underperform” rating to an “outperform” rating and increased their price objective for the company from $230.00 to $300.00 in a research note on Monday, August 3rd. Finally, Wolfe Research downgraded shares of Boeing from an “outperform” rating to a “hold” rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $272.58.
Boeing Price Performance
Shares of NYSE:BA opened at $226.48 on Tuesday. The business’s fifty day moving average price is $221.91 and its two-hundred day moving average price is $222.66. The stock has a market cap of $179.00 billion, a PE ratio of 98.04 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 one year low of $176.77 and a one year high of $254.35.
Boeing (NYSE:BA – Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.42). Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.The company had revenue of $24.56 billion for the quarter, compared to analysts’ expectations of $24.26 billion. During the same period in the previous year, the business posted ($1.24) EPS. The business’s quarterly revenue was up 8.0% on a year-over-year basis. On average, analysts forecast that The Boeing Company will post -0.87 EPS for the current fiscal year.
Insider Activity at Boeing
In related news, Director Bradley D. Tilden acquired 1,370 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average price of $218.50 per share, for a total transaction of $299,345.00. Following the transaction, the director owned 1,370 shares in the company, valued at $299,345. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.10% of the stock is currently owned by insiders.
Boeing Company 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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