Wrapmanager Inc. Buys New Position in The Boeing Company $BA

Wrapmanager Inc. purchased a new stake in The Boeing Company (NYSE:BA) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,271 shares of the aircraft producer’s stock, valued at approximately $490,000.

Several other hedge funds also recently made changes to their positions in BA. Vanguard Group Inc. grew its position in Boeing by 1.1% in the third quarter. Vanguard Group Inc. now owns 67,529,417 shares of the aircraft producer’s stock worth $14,574,874,000 after buying an additional 756,057 shares during the last quarter. Newport Trust Company LLC boosted its stake in shares of Boeing by 2.5% during the 3rd quarter. Newport Trust Company LLC now owns 29,198,446 shares of the aircraft producer’s stock worth $6,301,901,000 after acquiring an additional 707,490 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Boeing by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 16,316,838 shares of the aircraft producer’s stock worth $3,402,073,000 after acquiring an additional 432,026 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Boeing by 3.8% during the second quarter. Fisher Asset Management LLC now owns 5,327,443 shares of the aircraft producer’s stock worth $1,116,259,000 after purchasing an additional 196,666 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Boeing by 1.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 4,242,397 shares of the aircraft producer’s stock valued at $888,910,000 after purchasing an additional 44,338 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analyst Ratings Changes

BA has been the topic of a number of recent analyst reports. TD Cowen restated a “buy” rating on shares of Boeing in a report on Wednesday, January 28th. New Street Research set a $257.00 target price on shares of Boeing in a research note on Tuesday, December 9th. Royal Bank Of Canada raised their target price on Boeing from $265.00 to $275.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. JPMorgan Chase & Co. upped their price target on Boeing from $245.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. Finally, Susquehanna reiterated a “positive” rating and issued a $280.00 target price on shares of Boeing in a report on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.14.

Boeing Stock Performance

BA stock opened at $230.35 on Tuesday. The firm has a 50 day moving average of $233.04 and a two-hundred day moving average of $219.85. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $254.35. The company has a market capitalization of $180.91 billion, a price-to-earnings ratio of 114.60 and a beta of 1.15. The company has a quick ratio of 0.40, a current ratio of 1.19 and a debt-to-equity ratio of 8.37.

Boeing (NYSE:BA) last issued its quarterly earnings data on Tuesday, January 27th. The aircraft producer reported $9.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $10.32. The business had revenue of $23.95 billion during the quarter, compared to the consensus estimate of $22.41 billion. The company’s revenue for the quarter was up 57.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($5.90) earnings per share. As a group, equities analysts anticipate that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Transactions at Boeing

In other news, EVP Uma M. Amuluru sold 2,731 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $236.00, for a total transaction of $644,516.00. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Ann M. Schmidt sold 6,281 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $243.37, for a total value of $1,528,606.97. Following the completion of the sale, the senior vice president owned 13,978 shares of the company’s stock, valued at approximately $3,401,825.86. This trade represents a 31.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 19,509 shares of company stock worth $4,629,316. 0.09% of the stock is owned by corporate insiders.

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.