Bowen Hanes & Co. Inc. Raises Stock Holdings in The Boeing Company $BA

Bowen Hanes & Co. Inc. lifted its holdings in The Boeing Company (NYSE:BA) by 9.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 283,670 shares of the aircraft producer’s stock after purchasing an additional 24,910 shares during the period. Boeing comprises approximately 1.5% of Bowen Hanes & Co. Inc.’s portfolio, making the stock its 28th largest holding. Bowen Hanes & Co. Inc.’s holdings in Boeing were worth $61,590,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Purus Wealth Management LLC raised its holdings in shares of Boeing by 3.6% in the fourth quarter. Purus Wealth Management LLC now owns 1,177 shares of the aircraft producer’s stock worth $256,000 after buying an additional 41 shares during the period. West Wealth Group LLC raised its holdings in shares of Boeing by 0.6% in the fourth quarter. West Wealth Group LLC now owns 7,279 shares of the aircraft producer’s stock worth $1,581,000 after buying an additional 42 shares during the period. First Heartland Consultants Inc. raised its holdings in shares of Boeing by 1.1% in the fourth quarter. First Heartland Consultants Inc. now owns 4,062 shares of the aircraft producer’s stock worth $882,000 after buying an additional 43 shares during the period. Global Financial Private Client LLC raised its holdings in shares of Boeing by 1.1% in the fourth quarter. Global Financial Private Client LLC now owns 4,025 shares of the aircraft producer’s stock worth $874,000 after buying an additional 44 shares during the period. Finally, North Star Investment Management Corp. raised its holdings in shares of Boeing by 1.6% in the fourth quarter. North Star Investment Management Corp. now owns 2,833 shares of the aircraft producer’s stock worth $615,000 after buying an additional 44 shares during the period. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Bradley D. Tilden purchased 1,370 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were acquired 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 of the company’s stock, valued at $299,345. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.10% of the company’s stock.

More Boeing News

Here are the key news stories impacting Boeing this week:

• Negative Sentiment: NASA is reportedly reconsidering Boeing’s role after the Starliner debacle, renewing scrutiny of Boeing’s reliability in space contracts and adding to investor concern about future aerospace business. “Under Review”: Boeing Stock (NYSE:BA) Slides as NASA Reconsiders
• Negative Sentiment: Another headline warned that Boeing’s 777X orders may be at risk, raising fears that certification delays could lead airlines to reconsider or reduce commitments for the long-delayed aircraft. Boeing Stock (NYSE:BA) Plunges, 777X Orders May be at Risk
• Positive Sentiment: Norwegian Air Shuttle agreed to buy an additional Boeing 737-800, which is a modest vote of confidence in Boeing’s narrow-body fleet and ongoing airline demand. Norwegian Air Shuttle Buys Additional Boeing 737-800 to Strengthen Fleet Ownership
• Neutral Sentiment: Several analyst-style articles highlighted that Boeing has outperformed its industry over the past six months and that its turnaround is underway, but they also noted lingering weak spots and that much of the recovery may already be reflected in the share price. BA Stock Outperforms Industry in 6 Months: Should You Stay Invested? Boeing: The Comeback Is Real, But Weak Spots Remain Boeing’s Turnaround Is Real, But The Stock Already Knows It

Wall Street Analysts Forecast Growth

Several research firms have commented on BA. Weiss Ratings downgraded Boeing from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, April 24th. Tigress Financial raised their price objective on Boeing from $290.00 to $295.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Wolfe Research restated an “outperform” rating and set a $275.00 price objective on shares of Boeing in a report on Thursday, April 23rd. Jefferies Financial Group restated a “buy” rating on shares of Boeing in a report on Wednesday, March 4th. Finally, Wells Fargo & Company began coverage on Boeing in a report on Wednesday, April 1st. They set an “overweight” rating and a $250.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and an average price target of $259.80.

Boeing Trading Down 3.1%

BA opened at $210.89 on Thursday. The stock’s fifty day moving average is $220.05 and its two-hundred day moving average is $220.18. The company has a market capitalization of $166.24 billion, a P/E ratio of 102.37 and a beta of 1.19. The Boeing Company has a 52 week low of $176.77 and a 52 week high of $254.35. The company has a quick ratio of 0.35, a current ratio of 1.18 and a debt-to-equity ratio of 7.42.

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 during the quarter, compared to analysts’ expectations of $22.15 billion. During the same quarter in the prior year, the business posted ($0.49) earnings per share. The company’s revenue was up 14.0% compared to the same quarter last year. Analysts forecast that The Boeing Company will post -0.15 earnings per share for the current year.

About Boeing

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.