Syntax Research Inc. cut its position in shares of The Boeing Company (NYSE:BA – Free Report) by 60.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,423 shares of the aircraft producer’s stock after selling 6,732 shares during the quarter. Boeing accounts for 0.7% of Syntax Research Inc.’s portfolio, making the stock its 23rd largest position. Syntax Research Inc.’s holdings in Boeing were worth $957,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jupiter Topco LLC purchased a new position in shares of Boeing during the second quarter valued at $911,878,000. Bank of New York Mellon Corp bought a new position in Boeing during the second quarter valued at approximately $747,763,000. Legal & General Group Plc acquired a new stake in shares of Boeing in the 2nd quarter valued at $710,816,000. Deutsche Bank AG acquired a new position in shares of Boeing during the 2nd quarter valued at about $539,456,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Boeing during the second quarter valued at approximately $441,997,000. Institutional investors and hedge funds own 64.82% of the company’s stock.
Analysts Set New Price Targets
Several research firms recently weighed in on BA. William Blair reissued an “outperform” rating on shares of Boeing in a research report on Tuesday, July 28th. Royal Bank Of Canada dropped their price objective on 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 shares of Boeing to a “neutral” rating in a research report on Tuesday, August 11th. Btg Pactual set a $260.00 price objective on Boeing in a report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Boeing from $270.00 to $290.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $272.58.
Boeing Stock Performance
Shares of BA opened at $210.54 on Friday. The firm has a market cap of $166.40 billion, a P/E ratio of 91.14 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 twelve month low of $176.77 and a twelve month high of $254.35. The firm’s 50 day moving average price is $219.73 and its two-hundred day moving average price is $220.29.
Boeing (NYSE:BA – Get Free Report) last released its earnings results 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 firm had revenue of $24.56 billion for the quarter, compared to the consensus estimate of $24.26 billion. Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.Boeing’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the company posted ($1.24) EPS. On average, 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: Analyst support strengthened after Argus upgraded Boeing to Buy, citing its large backlog, revenue growth, improving margins and a second-quarter cash-flow turnaround. Q2 Cash Flow Turnaround Supports Boeing’s Rating Upgrade by Argus
- Positive Sentiment: Billionaire investors David Tepper and Paul Tudor Jones reportedly established Boeing positions, signaling that some institutional investors see value in a longer-term turnaround despite weak technical momentum. What Do Tepper, Tudor See in Boeing That the Market Doesn’t?
- Positive Sentiment: Albany International extended its agreement to manufacture composite fuselage frames for Boeing’s 787, supporting ongoing Dreamliner production and the supplier ecosystem. Albany Engineered Composites Secures Contract Extension on Boeing 787 Components
- Positive Sentiment: Boeing delivered the final round of mPower satellites, a positive operational milestone for its space business, which has faced execution challenges in the past. Boeing Delivers Final Round of mPower Satellites
- Positive Sentiment: Commercial-aircraft demand prospects remain constructive: Boeing projects substantial growth in Africa’s fleet by 2045, while Ethiopian Airlines is reportedly nearing an order for as many as 10 long-haul freighters. Ethiopian Airlines Nears Boeing Cargo Plane Order
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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