Pallas Capital Advisors LLC Makes New $1.69 Million Investment in The Boeing Company $BA

Pallas Capital Advisors LLC bought a new position in shares of The Boeing Company (NYSE:BA) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 7,815 shares of the aircraft producer’s stock, valued at approximately $1,692,000.

Several other hedge funds have also modified their holdings of BA. Vanguard Group Inc. increased its holdings in shares of Boeing by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 70,989,438 shares of the aircraft producer’s stock valued at $15,413,227,000 after purchasing an additional 3,460,021 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Boeing during the 2nd quarter worth $747,763,000. Deutsche Bank AG bought a new position in Boeing in the 2nd quarter valued at $539,456,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Boeing in the 2nd quarter valued at $441,997,000. Finally, Alyeska Investment Group L.P. increased its stake in shares of Boeing by 245.7% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,252,450 shares of the aircraft producer’s stock valued at $489,052,000 after buying an additional 1,600,909 shares during the period. 64.82% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Bradley D. Tilden bought 1,370 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was bought at an average cost of $218.50 per share, for a total transaction of $299,345.00. Following the transaction, the director owned 1,370 shares of the company’s stock, valued at $299,345. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

BA has been the subject of a number of recent research reports. Morgan Stanley boosted their target price on Boeing from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 23rd. Wolfe Research cut Boeing from an “outperform” rating to a “hold” rating in a report on Tuesday, August 11th. Royal Bank Of Canada lowered their price objective on Boeing from $275.00 to $265.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. JPMorgan Chase & Co. boosted their price objective on Boeing from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Finally, Tigress Financial upped their target price on shares of Boeing from $295.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $272.58.

Boeing Stock Performance

Shares of Boeing stock opened at $226.48 on Tuesday. The firm has a fifty day moving average of $221.91 and a two-hundred day moving average of $222.66. The stock has a market capitalization of $179.00 billion, a price-to-earnings ratio of 98.04 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. The company has a debt-to-equity ratio of 6.77, a quick ratio of 0.33 and a current ratio of 1.14.

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

Boeing 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.