Kestra Advisory Services LLC boosted its holdings in shares of The Boeing Company (NYSE:BA – Free Report) by 4.1% in the 3rd quarter, Holdings Channel reports. The firm owned 159,237 shares of the aircraft producer’s stock after buying an additional 6,322 shares during the period. Kestra Advisory Services LLC’s holdings in Boeing were worth $29,626,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Jupiter Topco LLC acquired a new position in Boeing in the second quarter worth approximately $911,878,000. Bank of New York Mellon Corp bought a new position in shares of Boeing in the second quarter valued at $747,763,000. Legal & General Group Plc acquired a new stake in shares of Boeing during the 2nd quarter valued at $710,816,000. Deutsche Bank AG acquired a new stake in shares of Boeing during the 2nd quarter valued at $539,456,000. Finally, Swiss National Bank lifted its position in shares of Boeing by 7.6% during the 1st quarter. Swiss National Bank now owns 2,298,077 shares of the aircraft producer’s stock valued at $457,386,000 after acquiring an additional 163,000 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Boeing
In other Boeing news, Director Mortimer Buckley bought 5,820 shares of Boeing stock in a transaction dated Friday, October 30th. The stock was bought at an average price of $171.55 per share, for a total transaction of $998,421.00. Following the completion of the acquisition, the director directly owned 10,250 shares of the company’s stock, valued at approximately $1,758,387.50. This trade represents a 131.38% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven Mollenkopf bought 2,950 shares of the firm’s stock in a transaction dated Friday, October 30th. The stock was acquired at an average cost of $173.03 per share, with a total value of $510,438.50. Following the transaction, the director owned 6,717 shares of the company’s stock, valued at $1,162,242.51. This trade represents a 78.31% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.10% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the company. Wells Fargo & Company reduced their price objective on Boeing from $250.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, October 28th. Cantor Fitzgerald lowered Boeing to a “neutral” rating in a research report on Tuesday, August 11th. Btg Pactual set a $260.00 target price on Boeing in a report on Tuesday, July 14th. Needham & Company LLC began coverage on Boeing in a research report on Wednesday, October 28th. They issued a “hold” rating for the company. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $238.00 price target on shares of Boeing in a research report on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $247.88.
View Our Latest Analysis on BA
Boeing Stock Up 0.5%
BA stock opened at $173.44 on Friday. The company has a debt-to-equity ratio of 6.31, a current ratio of 1.13 and a quick ratio of 0.34. The firm has a market capitalization of $137.44 billion, a P/E ratio of 18.87 and a beta of 1.34. The Boeing Company has a 52-week low of $165.01 and a 52-week high of $254.35. The company’s 50 day simple moving average is $192.39 and its 200-day simple moving average is $215.41.
Boeing (NYSE:BA – Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The aircraft producer reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.09). Boeing had a negative return on equity of 42.40% and a net margin of 7.98%. The firm had revenue of $24.19 billion during the quarter, compared to analyst estimates of $23.95 billion. During the same period in the prior year, the business posted ($7.47) EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities research analysts anticipate that The Boeing Company will post -1.84 EPS for the current year.
Trending Headlines about Boeing
Here are the key news stories impacting Boeing this week:
- Positive Sentiment: Avolon ordered 140 Boeing 737-10 jets, a record order that reinforces demand for Boeing’s largest 737 variant and adds to its backlog. Boeing Looks 8% Overvalued Following Avolon’s Order
- Positive Sentiment: Two directors bought Boeing shares after the stock’s decline, while a report also cited positive free cash flow. Those signals may bolster confidence, though they do not resolve operational challenges. Boeing Has the Orders, the Cash Flow, and Insider Buyers
- Neutral Sentiment: A valuation analysis said Boeing shares looked about 8% overvalued despite the Avolon order, reflecting concerns about the company’s recent performance and delivery outlook. Boeing Valuation Analysis
- Negative Sentiment: Boeing reportedly delivered 32 MAX jets in October, its lowest monthly total in nearly a year. Fewer deliveries could weigh on revenue and complicate the production recovery. October MAX Deliveries
- Negative Sentiment: The FAA is scrutinizing Dreamliner wing issues, adding a potential quality-control and regulatory overhang that could raise the risk of delays or added costs. FAA Scrutiny of Dreamliner Wings
Boeing Profile
The Boeing Company is an aerospace manufacturer that designs, builds and supports commercial airplanes, defense products and space systems. Its commercial aircraft include the 737, 767, 777 and 787 families, which serve passenger and cargo operators around the world.
Boeing’s defense, space and security business supplies military aircraft, helicopters, weapons, satellites and related systems, as well as services for government customers. Its Boeing Global Services business provides support such as maintenance, parts, training and logistics for commercial and government customers.
Founded in 1916 by William Boeing, the company has grown into a global aerospace business serving customers across the Americas, Europe, Asia and other regions.
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