McGinn Penninger Investment Management Inc. Has $6.73 Million Stake in The Boeing Company $BA

McGinn Penninger Investment Management Inc. increased its holdings in The Boeing Company (NYSE:BA) by 12.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,982 shares of the aircraft producer’s stock after acquiring an additional 3,379 shares during the quarter. Boeing comprises about 3.9% of McGinn Penninger Investment Management Inc.’s investment portfolio, making the stock its 9th biggest holding. McGinn Penninger Investment Management Inc.’s holdings in Boeing were worth $6,727,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Fisher Asset Management LLC increased its stake in shares of Boeing by 3.3% in the 3rd quarter. Fisher Asset Management LLC now owns 5,505,040 shares of the aircraft producer’s stock worth $1,188,153,000 after acquiring an additional 177,597 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Boeing by 41.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 223,824 shares of the aircraft producer’s stock worth $48,316,000 after acquiring an additional 65,216 shares in the last quarter. Princeton Capital Management LLC increased its stake in shares of Boeing by 78.3% in the 4th quarter. Princeton Capital Management LLC now owns 12,249 shares of the aircraft producer’s stock worth $2,660,000 after acquiring an additional 5,381 shares in the last quarter. Granite Investment Partners LLC increased its stake in shares of Boeing by 1,984.0% in the 3rd quarter. Granite Investment Partners LLC now owns 31,448 shares of the aircraft producer’s stock worth $6,787,000 after acquiring an additional 29,939 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new position in shares of Boeing in the 4th quarter worth about $55,787,000. 64.82% of the stock is currently owned by institutional investors.

Key Headlines Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: National Airlines took delivery of its second Boeing 777 Freighter, underscoring continued demand for Boeing cargo aircraft and supporting Boeing’s order/backlog narrative. National Airlines Continues Strategic Fleet Expansion with Delivery of Second Boeing 777F
• Positive Sentiment: Boeing Saudi Arabia and GACA launched an advanced air mobility feasibility study with SkyGrid and KAUST, which could help Boeing build future opportunities in emerging aviation markets. Boeing Saudi Arabia and GACA launch AAM Airspace and Operational Feasibility Analysis with support from SkyGrid, and KAUST
• Positive Sentiment: A Boeing director disclosed insider buying of about $299,345, a signal investors often view as a vote of confidence in the company’s outlook. Insider Buying: Boeing (NYSE:BA) Director Buys $299,345.00 in Stock
• Neutral Sentiment: Analyst commentary comparing Boeing with Lockheed Martin and long-term think pieces on Boeing’s decade-ahead prospects were broadly valuation-focused and are unlikely to move the stock on their own. BA vs. LMT: Which Aerospace-Defense Giant Offers Better Value Today?
• Negative Sentiment: SpaceX won additional NASA crew mission work while Boeing lost out, reinforcing concerns that Boeing is falling behind in key space-related programs. SpaceX Wins Where Boeing Loses: NASA Hands Musk-Led Company More Crew Missions
• Negative Sentiment: Reports that China only bought 200 Boeing planes were seen as disappointing, suggesting softer-than-hoped demand from a major market. The Disappointing Boeing Deal: Why China Only Bought 200 Planes

Insider Transactions at Boeing

In related news, Director Mortimer J. Buckley purchased 2,230 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were purchased at an average price of $224.20 per share, with a total value of $499,966.00. Following the acquisition, the director directly owned 4,430 shares in the company, valued at $993,206. The trade was a 101.36% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bradley D. Tilden purchased 1,370 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were bought at an average cost of $218.50 per share, for a total transaction of $299,345.00. Following the acquisition, the director owned 1,370 shares in the company, valued at approximately $299,345. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.10% of the company’s stock.

Boeing Stock Performance

Shares of NYSE BA opened at $219.25 on Wednesday. The firm’s 50-day moving average price is $217.81 and its 200-day moving average price is $219.01. The company has a quick ratio of 0.35, a current ratio of 1.18 and a debt-to-equity ratio of 7.42. The company has a market cap of $172.83 billion, a PE ratio of 106.43 and a beta of 1.21. The Boeing Company has a 52-week low of $176.77 and a 52-week high of $254.35.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.48. The company had revenue of $22.22 billion for the quarter, compared to analysts’ expectations of $22.15 billion. The business’s revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.49) EPS. As a group, analysts anticipate that The Boeing Company will post -0.15 EPS for the current year.

Analyst Ratings Changes

BA has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Boeing from $245.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. Wells Fargo & Company initiated coverage on shares of Boeing in a research report on Wednesday, April 1st. They set an “overweight” rating and a $250.00 price objective on the stock. Tigress Financial increased their price objective on shares of Boeing from $290.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Royal Bank Of Canada increased their price objective on shares of Boeing from $265.00 to $275.00 and gave the company an “outperform” rating in a research report on Wednesday, January 28th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Boeing in a research report on Wednesday, March 4th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $259.80.

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.