State of Alaska Department of Revenue Lowers Holdings in The Boeing Company $BA

State of Alaska Department of Revenue cut its stake in shares of The Boeing Company (NYSE:BA) by 4.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,383 shares of the aircraft producer’s stock after selling 3,621 shares during the quarter. State of Alaska Department of Revenue’s holdings in Boeing were worth $17,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of BA. Harbor Asset Planning Inc. purchased a new stake in Boeing during the second quarter valued at about $25,000. Piscataqua Savings Bank increased its position in Boeing by 1,712.5% during the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock valued at $30,000 after purchasing an additional 137 shares during the period. Davis Capital Management purchased a new stake in Boeing in the third quarter worth about $33,000. Howard Hughes Medical Institute purchased a new position in shares of Boeing in the 2nd quarter valued at approximately $34,000. Finally, Decker Retirement Planning Inc. purchased a new stake in shares of Boeing in the 2nd quarter worth about $35,000. 64.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut shares of Boeing from a “buy” rating to a “hold” rating and set a $240.00 price target on the stock. in a research note on Thursday, October 30th. Susquehanna cut their price target on Boeing from $270.00 to $255.00 and set a “positive” rating for the company in a research note on Wednesday, November 12th. New Street Research set a $257.00 target price on Boeing in a research report on Tuesday, December 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Boeing in a research note on Wednesday, October 8th. Finally, UBS Group reissued a “buy” rating on shares of Boeing in a report on Wednesday, December 10th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $235.33.

Boeing Price Performance

BA stock opened at $227.22 on Friday. The business has a 50-day moving average price of $203.31 and a 200 day moving average price of $215.53. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $242.69. The company has a market capitalization of $172.70 billion, a P/E ratio of -16.61, a PEG ratio of 6.57 and a beta of 1.16.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($6.96). The business had revenue of $23.27 billion during the quarter, compared to the consensus estimate of $21.61 billion. Boeing’s revenue was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($10.44) EPS. On average, analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Transactions at Boeing

In other Boeing news, SVP Dana S. Deasy bought 554 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were purchased at an average cost of $178.88 per share, for a total transaction of $99,099.52. Following the transaction, the senior vice president directly owned 28,442 shares of the company’s stock, valued at approximately $5,087,704.96. The trade was a 1.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Uma M. Amuluru sold 1,366 shares of Boeing stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $197.66, for a total transaction of $270,003.56. Following the completion of the sale, the executive vice president owned 14,656 shares in the company, valued at approximately $2,896,904.96. This trade represents a 8.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.09% of the company’s stock.

Boeing 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.