Objectivity Squared LLC Makes New Investment in The Boeing Company $BA

Objectivity Squared LLC acquired a new stake in The Boeing Company (NYSE:BA) during the second quarter, HoldingsChannel reports. The fund acquired 8,817 shares of the aircraft producer’s stock, valued at approximately $1,909,000. Boeing makes up about 1.1% of Objectivity Squared LLC’s holdings, making the stock its 15th largest holding.

Several other institutional investors also recently bought and sold shares of BA. Vanguard Group Inc. raised its holdings in Boeing by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 70,989,438 shares of the aircraft producer’s stock worth $15,413,227,000 after purchasing an additional 3,460,021 shares in the last quarter. Newport Trust Company LLC boosted its holdings in Boeing by 1.0% in the 4th quarter. Newport Trust Company LLC now owns 29,485,294 shares of the aircraft producer’s stock valued at $6,401,847,000 after purchasing an additional 286,848 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Boeing by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 17,025,435 shares of the aircraft producer’s stock valued at $3,679,592,000 after purchasing an additional 533,753 shares in the last quarter. Fisher Asset Management LLC increased its position in Boeing by 2.5% during the 4th quarter. Fisher Asset Management LLC now owns 5,640,900 shares of the aircraft producer’s stock worth $1,224,752,000 after purchasing an additional 135,860 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Boeing by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,370,415 shares of the aircraft producer’s stock worth $948,905,000 after purchasing an additional 138,469 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Boeing news, Director Bradley D. Tilden bought 1,370 shares of Boeing stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average price 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. The Goldman Sachs Group downgraded Boeing from a “buy” rating to a “hold” rating in a report on Tuesday, August 11th. BNP Paribas Exane raised shares of Boeing from an “underperform” rating to an “outperform” rating and upped their price target for the stock from $230.00 to $300.00 in a research note on Monday, August 3rd. Btg Pactual set a $260.00 price target on shares of Boeing in a report on Tuesday, July 14th. William Blair reiterated an “outperform” rating on shares of Boeing in a research note on Tuesday, July 28th. Finally, Robert W. Baird set a $300.00 price objective on shares of Boeing in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $272.58.

Boeing Stock Down 2.2%

Shares of NYSE BA opened at $226.48 on Tuesday. The firm has a market cap of $179.00 billion, a P/E ratio of 98.04 and a beta of 1.21. The company has a debt-to-equity ratio of 6.77, a quick ratio of 0.33 and a current ratio of 1.14. The Boeing Company has a 1 year low of $176.77 and a 1 year high of $254.35. The firm’s 50 day moving average price is $221.91 and its 200 day moving average price is $222.66.

Boeing (NYSE:BA) last posted its quarterly earnings data on Tuesday, July 28th. The aircraft producer reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.42). Boeing had a net margin of 2.41% and a negative return on equity of 346.82%. The company had revenue of $24.56 billion for the quarter, compared to analyst estimates of $24.26 billion. During the same period in the prior year, the company earned ($1.24) EPS. The company’s revenue was up 8.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Boeing Company will post -0.87 earnings per share for the current year.

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.