OMERS ADMINISTRATION Corp purchased a new stake in The Boeing Company (NYSE:BA – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 42,283 shares of the aircraft producer’s stock, valued at approximately $9,153,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new position in Boeing during the second quarter valued at $747,763,000. Deutsche Bank AG purchased a new position in Boeing during the 2nd quarter valued at about $539,456,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Boeing in the 2nd quarter valued at about $441,997,000. Alyeska Investment Group L.P. lifted its position in shares of 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 worth $489,052,000 after purchasing an additional 1,600,909 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Boeing by 43.1% during the fourth quarter. Janus Henderson Group PLC now owns 3,907,876 shares of the aircraft producer’s stock worth $840,204,000 after purchasing an additional 1,176,074 shares during the period. 64.82% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts have issued reports on BA shares. Tigress Financial lifted their target price on shares of Boeing from $295.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Wolfe Research downgraded shares of Boeing from an “outperform” rating to a “hold” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. increased their price objective on Boeing from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Btg Pactual set a $260.00 target price on Boeing in a research note on Tuesday, July 14th. Finally, UBS Group started coverage on Boeing in a research report on Tuesday, August 11th. They issued a “buy” rating on the stock. One investment 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 given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $272.58.
Boeing News Roundup
Here are the key news stories impacting Boeing this week:
- Positive Sentiment: Boeing received a U.S. Department of War indefinite-delivery/indefinite-quantity contract with a ceiling value of $131.23 billion to support the F-15 Eagle Crest program. Although the ceiling is not guaranteed revenue, the award strengthens Boeing’s long-term defense backlog and could provide significant future cash flow. Boeing awarded contract for F-15 program
- Positive Sentiment: Strong maritime-defense demand is supporting Boeing’s P-8 Poseidon business, including a new $156.2 million contract. The award adds evidence that Boeing’s defense segment can supplement its commercial-aircraft recovery. P-8 Poseidon defense growth
- Positive Sentiment: National Airlines accepted its fourth Boeing 777-200 Freighter, highlighting ongoing cargo-aircraft demand and supporting Boeing’s production and delivery activity. National Airlines receives Boeing 777 freighter
- Neutral Sentiment: Analysts continue to focus on Boeing’s ability to increase 737 MAX production against its substantial backlog. Higher output could improve revenue and benefit suppliers, but execution, regulatory oversight and supply-chain constraints remain important risks. Boeing production and suppliers
- Negative Sentiment: Members of the Society of Professional Engineering Employees in Aerospace reportedly rejected Boeing’s proposed agreement by a wide margin. The labor setback raises the risk of extended negotiations, higher costs or disruption to engineering and production programs. SPEEA rejects Boeing proposal
- Negative Sentiment: United Airlines is reconsidering how to use premium seats ordered for delayed 737 MAX 10 aircraft, underscoring the model’s prolonged certification and delivery delays. Continued uncertainty could weigh on Boeing’s delivery targets and customer relationships. United Airlines and 737 MAX 10 delays
Boeing Stock Down 1.7%
Shares of Boeing stock opened at $210.50 on Tuesday. The Boeing Company has a 12-month low of $176.77 and a 12-month high of $254.35. The company has a quick ratio of 0.33, a current ratio of 1.14 and a debt-to-equity ratio of 6.77. The stock has a 50 day moving average price of $221.74 and a two-hundred day moving average price of $222.02. The stock has a market capitalization of $166.37 billion, a P/E ratio of 91.13 and a beta of 1.21.
Boeing (NYSE:BA – Get Free Report) last released 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 firm had revenue of $24.56 billion during the quarter, compared to the consensus estimate of $24.26 billion. Boeing had a net margin of 2.41% and a negative return on equity of 346.82%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.24) EPS. Equities analysts expect that The Boeing Company will post -0.87 earnings per share for the current year.
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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