50,677 Shares in The Boeing Company $BA Bought by Pinebridge Investments LLC

Pinebridge Investments LLC acquired a new position in shares of The Boeing Company (NYSE:BA) in the fourth quarter, HoldingsChannel reports. The fund acquired 50,677 shares of the aircraft producer’s stock, valued at approximately $11,003,000.

A number of other institutional investors have also made changes to their positions in the stock. Victrix Investment Advisors grew its stake in shares of Boeing by 2.8% during the fourth quarter. Victrix Investment Advisors now owns 22,990 shares of the aircraft producer’s stock worth $4,992,000 after purchasing an additional 618 shares during the period. Horizon Bancorp Inc. IN grew its stake in shares of Boeing by 38.3% during the fourth quarter. Horizon Bancorp Inc. IN now owns 1,448 shares of the aircraft producer’s stock worth $315,000 after purchasing an additional 401 shares during the period. SlateStone Wealth LLC grew its stake in shares of Boeing by 9.6% during the fourth quarter. SlateStone Wealth LLC now owns 2,896 shares of the aircraft producer’s stock worth $629,000 after purchasing an additional 253 shares during the period. J.W. Cole Advisors Inc. grew its stake in shares of Boeing by 1.9% during the fourth quarter. J.W. Cole Advisors Inc. now owns 54,821 shares of the aircraft producer’s stock worth $11,903,000 after purchasing an additional 1,004 shares during the period. Finally, Vise Technologies Inc. grew its stake in shares of Boeing by 21.3% during the fourth quarter. Vise Technologies Inc. now owns 11,627 shares of the aircraft producer’s stock worth $2,524,000 after purchasing an additional 2,041 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Stock Down 0.8%

NYSE:BA opened at $215.72 on Friday. The Boeing Company has a 1 year low of $176.77 and a 1 year high of $254.35. The company has a current ratio of 1.18, a quick ratio of 0.35 and a debt-to-equity ratio of 7.42. The stock has a market cap of $170.05 billion, a price-to-earnings ratio of 104.72 and a beta of 1.19. The stock has a 50-day moving average price of $220.80 and a two-hundred day moving average price of $220.31.

Boeing (NYSE:BA) last posted its 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 business had revenue of $22.22 billion during the quarter, compared to analyst estimates of $22.15 billion. During the same period in the previous year, the firm posted ($0.49) earnings per share. The firm’s revenue was up 14.0% on a year-over-year basis. As a group, equities analysts expect that The Boeing Company will post -0.15 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BA. Citigroup lifted their price objective on Boeing from $256.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Wells Fargo & Company started coverage on Boeing in a research note on Wednesday, April 1st. They issued an “overweight” rating and a $250.00 target price for the company. Jefferies Financial Group reissued a “buy” rating on shares of Boeing in a research note on Wednesday, March 4th. Tigress Financial boosted their target price on Boeing from $290.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings cut Boeing from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Boeing currently has an average rating of “Moderate Buy” and an average price target of $259.80.

More Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing said it will start building 737 MAX jets on a new final assembly line in Everett, Washington, on July 6, a sign that the company is getting closer to ramping production and potentially lifting output toward 52 jets per month. Boeing to start 737 Max production on new assembly line July 6, CEO says
• Positive Sentiment: Boeing delivered the first two 787 Dreamliners to Riyadh Air, reinforcing steady commercial aircraft demand and giving investors another concrete delivery milestone. Boeing Delivers Riyadh Air’s First Two 787 Dreamliner Jets
• Positive Sentiment: Reports that China may consider additional aircraft purchases, along with interest from airlines such as Qantas and Singapore Airlines in wide-body orders, are supporting the view that Boeing could benefit from stronger future demand. China Considering Further Aircraft Purchases, Boeing Stock (NYSE:BA) Jumps
• Neutral Sentiment: Analyst commentary continues to highlight Boeing’s improving delivery momentum and large commercial backlog, which supports the long-term outlook but does not appear to be a direct catalyst today. Can Boeing’s Commercial Aircraft Delivery Momentum Lift Performance?
• Negative Sentiment: A German investigation has been opened into the Boeing 787 nose-gear collapse in Frankfurt, and reports say several workers were injured, adding to safety concerns around the 787 program. German investigators launch probe into Boeing 787 incident in Frankfurt
• Negative Sentiment: Separate reports on the Frankfurt 787 incident and the resulting injuries are likely weighing on sentiment because they revive concerns about Boeing’s quality-control and reliability record. Several injured in Boeing 787 nose-gear collapse in Frankfurt
• Negative Sentiment: Even with the production and delivery updates, Boeing shares are also being pressured by a broader market rotation away from riskier names, helping explain why the stock is under pressure despite the company-specific positives. What’s Going On With Boeing Stock Friday?

Insider Buying and Selling at Boeing

In other news, Director Bradley D. Tilden acquired 1,370 shares of Boeing stock in a transaction dated Wednesday, May 20th. The stock was bought at an average cost of $218.50 per share, with a total value of $299,345.00. Following the completion of the transaction, the director directly owned 1,370 shares of the company’s stock, valued at approximately $299,345. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.10% of the stock is owned by corporate insiders.

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.