TD Waterhouse Canada Inc. raised its holdings in shares of The Boeing Company (NYSE:BA – Free Report) by 31.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 126,482 shares of the aircraft producer’s stock after acquiring an additional 30,021 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Boeing were worth $23,532,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Highland Investment Advisors LLC bought a new position in shares of Boeing during the second quarter valued at $26,000. Strategic Wealth Advisors LLC purchased a new stake in shares of Boeing during the second quarter valued at $27,000. Bell Investment Advisors Inc purchased a new stake in shares of Boeing during the second quarter valued at $29,000. Bayban bought a new stake in Boeing in the 4th quarter worth about $29,000. Finally, Security National Bank of SO Dak bought a new stake in Boeing in the 2nd quarter worth about $30,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts have weighed in on the company. DZ Bank reissued a “buy” rating on shares of Boeing in a research report on Thursday, August 6th. Bank of America reaffirmed a “buy” rating and set a $270.00 price target on shares of Boeing in a report on Friday, September 18th. Cantor Fitzgerald lowered shares of Boeing to a “neutral” rating in a research note on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Boeing in a research note on Tuesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Boeing from $244.00 to $248.00 and gave the company a “hold” rating in a report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Boeing currently has an average rating of “Moderate Buy” and a consensus target price of $266.96.
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More Boeing News
Here are the key news stories impacting Boeing this week:
- Positive Sentiment: Boeing is reportedly in discussions with Cathay Pacific over a potential order for as many as 50 wide-body aircraft. Although Cathay is also considering Airbus, a win would strengthen Boeing’s backlog and support future production and deliveries. Boeing Heads Into Talks Over Up To 50 Wide Body Jets
- Positive Sentiment: Southwest Airlines is reportedly considering another Boeing purchase, adding to recent commercial-aircraft deal momentum and potentially supporting Boeing’s order pipeline. Boeing Stock Gains as Southwest Considers Buy
- Positive Sentiment: Boeing averted a possible engineers’ strike after new contracts were signed, reducing a near-term operational disruption risk. Boeing Strike Deadline and New Contracts
- Positive Sentiment: Barclays maintained an optimistic outlook, with a $300 price target implying substantial upside and citing Boeing’s improving revenue trajectory. Barclays Sees Upside in Boeing Stock
- Neutral Sentiment: Board members with deeper aviation expertise could help Boeing shape its next-generation aircraft strategy, though the benefit is longer term. Boeing’s Boardroom Strategy
- Negative Sentiment: Chief Sales Officer Ihssane Mounir McMullen plans to retire, creating a leadership transition in a critical commercial-sales role. Boeing Sales Chief to Retire
- Negative Sentiment: Morgan Stanley cut its price target from $250 to $225, while retaining a Buy rating. RBC also reduced its target from $265 to $235, citing defense-budget uncertainty. Morgan Stanley Boeing Price Target
- Negative Sentiment: A separate risk-reward assessment assigned Boeing a low score and a Sell rating, underscoring valuation, balance-sheet and execution concerns. Boeing Risk-Reward Assessment
Boeing Stock Up 0.7%
NYSE BA opened at $189.98 on Friday. The Boeing Company has a 52 week low of $176.77 and a 52 week 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 company has a market capitalization of $150.16 billion, a P/E ratio of 82.24 and a beta of 1.26. The stock’s 50-day moving average price is $204.93 and its 200-day moving average price is $215.57.
Boeing (NYSE:BA – Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.42). The company had revenue of $24.56 billion for the quarter, compared to analysts’ expectations of $24.26 billion. Boeing had a net margin of 2.41% and a negative return on equity of 346.82%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.24) earnings per share. On average, equities research analysts predict that The Boeing Company will post -0.96 earnings per share for the current year.
Boeing Company Profile
The Boeing Company (NYSE: BA) is a global aerospace company that designs, manufactures and supports commercial airplanes, military aircraft, satellites, space systems and related products and services. Its offerings serve airlines, government agencies, defense organizations and other customers worldwide.
Boeing operates through three principal business areas: Commercial Airplanes, which develops and produces passenger and cargo aircraft; Defense, Space & Security, which provides military aircraft, weapons systems, satellites and space-related platforms; and Global Services, which offers parts, maintenance, training, engineering and other lifecycle support.
Founded in 1916 by William Boeing, the company has grown into one of the world’s major aerospace manufacturers.
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