J. Derek Lewis & Associates Inc. Invests $1.04 Million in The Boeing Company $BA

J. Derek Lewis & Associates Inc. purchased a new position in shares of The Boeing Company (NYSE:BA) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,778 shares of the aircraft producer’s stock, valued at approximately $1,037,000.

A number of other hedge funds have also added to or reduced their stakes in BA. Russell Investments Group Ltd. raised its stake in shares of Boeing by 41.1% during the third quarter. Russell Investments Group Ltd. now owns 223,824 shares of the aircraft producer’s stock valued at $48,316,000 after acquiring an additional 65,216 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Boeing by 3.3% in the third quarter. Fisher Asset Management LLC now owns 5,505,040 shares of the aircraft producer’s stock worth $1,188,153,000 after purchasing an additional 177,597 shares during the last quarter. Princeton Capital Management LLC grew its stake in shares of Boeing by 78.3% in the fourth quarter. Princeton Capital Management LLC now owns 12,249 shares of the aircraft producer’s stock worth $2,660,000 after purchasing an additional 5,381 shares during the last quarter. Rakuten Investment Management Inc. increased its holdings in Boeing by 502.3% in the fourth quarter. Rakuten Investment Management Inc. now owns 103,099 shares of the aircraft producer’s stock valued at $22,398,000 after purchasing an additional 85,982 shares during the period. Finally, Vaughan Nelson Investment Management L.P. bought a new position in Boeing during the 4th quarter worth $55,787,000. 64.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Weiss Ratings downgraded Boeing from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, April 24th. Citigroup increased their price target on Boeing from $256.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Wells Fargo & Company assumed coverage on Boeing in a research report on Wednesday, April 1st. They set an “overweight” rating and a $250.00 price objective for the company. Wolfe Research reaffirmed an “outperform” rating and issued a $275.00 price objective on shares of Boeing in a research note on Thursday, April 23rd. Finally, Tigress Financial upped their target price on Boeing from $290.00 to $295.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Two equities research 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and an average target price of $262.32.

Insider Activity at Boeing

In other Boeing news, Director Bradley D. Tilden bought 1,370 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average price of $218.50 per share, for a total transaction of $299,345.00. Following the transaction, the director directly owned 1,370 shares in the company, valued at approximately $299,345. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.10% of the stock is currently owned by insiders.

Boeing Price Performance

BA stock opened at $223.51 on Friday. The firm has a market cap of $176.19 billion, a price-to-earnings ratio of 108.50 and a beta of 1.19. 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 Boeing Company has a 12-month low of $176.77 and a 12-month high of $254.35. The company’s fifty day simple moving average is $224.23 and its 200 day simple moving average is $222.81.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.48. The firm had revenue of $22.22 billion for the quarter, compared to the consensus estimate of $22.15 billion. During the same period last year, the company posted ($0.49) EPS. The business’s revenue was up 14.0% compared to the same quarter last year. On average, analysts expect 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.