State of New Jersey Common Pension Fund D Boosts Holdings in The Boeing Company $BA

State of New Jersey Common Pension Fund D lifted its stake in shares of The Boeing Company (NYSE:BA) by 4.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 263,677 shares of the aircraft producer’s stock after purchasing an additional 10,125 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Boeing were worth $56,909,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of BA. Harbor Asset Planning Inc. acquired a new stake in Boeing in the 2nd quarter worth about $25,000. Davis Capital Management acquired a new stake in shares of Boeing in the third quarter worth approximately $33,000. Howard Hughes Medical Institute purchased a new stake in shares of Boeing during the second quarter worth approximately $34,000. Decker Retirement Planning Inc. purchased a new position in Boeing in the 2nd quarter valued at $35,000. Finally, Centerpoint Advisors LLC boosted its stake in Boeing by 62.4% during the 3rd quarter. Centerpoint Advisors LLC now owns 164 shares of the aircraft producer’s stock worth $35,000 after purchasing an additional 63 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Up 1.5%

BA stock opened at $242.96 on Friday. The Boeing Company has a one year low of $128.88 and a one year high of $254.35. The firm has a market cap of $190.80 billion, a PE ratio of 120.87 and a beta of 1.15. The firm’s 50 day moving average price is $228.92 and its 200-day moving average price is $219.35. The company has a debt-to-equity ratio of 8.37, a quick ratio of 0.40 and a current ratio of 1.19.

Boeing (NYSE:BA) last posted its earnings results on Tuesday, January 27th. The aircraft producer reported $9.92 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $10.32. The business had revenue of $23.95 billion for the quarter, compared to analyst estimates of $22.41 billion. During the same period last year, the business earned ($5.90) EPS. Boeing’s revenue was up 57.1% compared to the same quarter last year. On average, equities research analysts anticipate that The Boeing Company will post -2.58 EPS for the current year.

Insider Buying and Selling

In related news, SVP Dana S. Deasy bought 554 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were bought at an average price of $178.88 per share, with a total value of $99,099.52. Following the completion of the transaction, the senior vice president directly owned 28,442 shares of the company’s stock, valued at $5,087,704.96. This represents a 1.99% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Uma M. Amuluru sold 2,731 shares of Boeing stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $236.00, for a total transaction of $644,516.00. Following the sale, the executive vice president owned 11,925 shares of the company’s stock, valued at approximately $2,814,300. This represents a 18.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Argus raised shares of Boeing to a “hold” rating in a research note on Monday, February 2nd. Jefferies Financial Group increased their price objective on shares of Boeing from $290.00 to $295.00 and gave the company a “buy” rating in a report on Sunday, February 1st. Wolfe Research restated an “outperform” rating on shares of Boeing in a report on Tuesday, January 27th. Tigress Financial restated a “buy” rating and issued a $275.00 price target on shares of Boeing in a research report on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft downgraded Boeing from a “buy” rating to a “hold” rating and set a $240.00 price objective on the stock. in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and a consensus target price of $246.14.

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.