Pinnacle West Asset Management Inc. acquired a new stake in The Boeing Company (NYSE:BA – Free Report) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 4,640 shares of the aircraft producer’s stock, valued at approximately $1,004,000.
A number of other large investors have also bought and sold shares of BA. XML Financial LLC lifted its stake in Boeing by 0.5% in the fourth quarter. XML Financial LLC now owns 8,905 shares of the aircraft producer’s stock valued at $1,933,000 after buying an additional 43 shares in the last quarter. North Star Investment Management Corp. increased its position in shares of Boeing by 1.6% during the fourth quarter. North Star Investment Management Corp. now owns 2,833 shares of the aircraft producer’s stock worth $615,000 after acquiring an additional 44 shares in the last quarter. Strait & Sound Wealth Management LLC increased its position in shares of Boeing by 1.1% during the fourth quarter. Strait & Sound Wealth Management LLC now owns 3,915 shares of the aircraft producer’s stock worth $850,000 after acquiring an additional 44 shares in the last quarter. B.O.S.S. Retirement Advisors LLC raised its holdings in shares of Boeing by 1.4% during the first quarter. B.O.S.S. Retirement Advisors LLC now owns 3,175 shares of the aircraft producer’s stock worth $632,000 after acquiring an additional 44 shares during the period. Finally, PKS Advisory Services LLC lifted its position in Boeing by 2.5% in the 4th quarter. PKS Advisory Services LLC now owns 1,839 shares of the aircraft producer’s stock valued at $399,000 after acquiring an additional 45 shares in the last quarter. 64.82% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts recently weighed in on BA shares. Royal Bank Of Canada reduced their target price on shares of Boeing from $275.00 to $265.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Cantor Fitzgerald downgraded Boeing to a “neutral” rating in a research note on Tuesday, August 11th. Citigroup lowered Boeing from a “buy” rating to a “sell” rating in a report on Tuesday, August 11th. Barclays cut Boeing from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, August 11th. Finally, The Goldman Sachs Group lowered Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $272.58.
Boeing Stock Performance
Shares of BA opened at $214.20 on Friday. The stock has a market capitalization of $169.30 billion, a price-to-earnings ratio of 92.73 and a beta of 1.21. The Boeing Company has a 12 month low of $176.77 and a 12 month high of $254.35. The firm has a fifty day simple moving average of $222.11 and a 200 day simple moving average of $222.26. The company has a current ratio of 1.14, a quick ratio of 0.33 and a debt-to-equity ratio of 6.77.
Boeing (NYSE:BA – Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.42). Boeing had a net margin of 2.41% and a negative return on equity of 346.82%. The business had revenue of $24.56 billion during the quarter, compared to analyst estimates of $24.26 billion. During the same quarter in the previous year, the firm posted ($1.24) earnings per share. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. Research analysts forecast that The Boeing Company will post -0.87 EPS for the current fiscal year.
More Boeing News
Here are the key news stories impacting Boeing this week:
- Positive Sentiment: The U.S. State Department approved a potential $4.5 billion sale of KC-46A tanker aircraft to Qatar. The approval supports Boeing’s defense backlog, although the transaction still requires finalization. US approves potential $4.5B sale of Boeing KC-46A tankers to Qatar
- Positive Sentiment: Boeing’s agreement to sell or transfer businesses including Wisk Aero, Insitu and SkyGrid to Archer Aviation, while taking a strategic stake in Archer, could generate cash and provide exposure to autonomous and electric aviation markets. However, the deal’s financial impact and execution remain uncertain. Archer Aviation bets big on becoming more than an air taxi company
- Neutral Sentiment: AerCap delivered its tenth Boeing 787 to Grupo Aeromexico, marking its 100th 787 delivery from its direct order book. The milestone signals continuing customer demand for the Dreamliner but is not a new Boeing order or immediate revenue catalyst. AerCap Holdings compared with Boeing
- Negative Sentiment: Voting ends on Boeing’s proposed four-year contract with the Society of Professional Engineering Employees in Aerospace, representing roughly 17,000 engineers and technical workers. A rejection could authorize a strike after the current contracts expire on October 6, raising concerns about production, certification and delivery schedules. Results were expected Friday afternoon. Boeing white-collar union contract vote results expected today
- Negative Sentiment: The labor uncertainty is outweighing recent operating progress, including higher commercial deliveries and efforts to increase 737 production. Investors appear concerned that a work stoppage could interrupt Boeing’s recovery. Boeing slides as labor vote uncertainty outweighs operational progress
- Negative Sentiment: Boeing is advancing repairs to Air Force One, but window replacement and interior work could threaten the program’s schedule, adding another execution risk to the company’s defense business. Boeing advances Air Force One repairs
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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