Texas Capital Bank Wealth Management Services Inc Buys Shares of 3,311 The Boeing Company $BA

Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of The Boeing Company (NYSE:BA) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 3,311 shares of the aircraft producer’s stock, valued at approximately $717,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BA. Vanguard Group Inc. raised its stake 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 buying an additional 3,460,021 shares during the last quarter. Newport Trust Company LLC lifted its holdings in Boeing by 1.0% in the fourth quarter. Newport Trust Company LLC now owns 29,485,294 shares of the aircraft producer’s stock valued at $6,401,847,000 after buying an additional 286,848 shares during the period. Geode Capital Management LLC boosted its position in Boeing by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 17,025,435 shares of the aircraft producer’s stock valued at $3,679,592,000 after acquiring an additional 533,753 shares during the last quarter. Fisher Asset Management LLC boosted its position in Boeing by 2.5% during the fourth quarter. Fisher Asset Management LLC now owns 5,640,900 shares of the aircraft producer’s stock valued at $1,224,752,000 after acquiring an additional 135,860 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings 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 acquiring an additional 138,469 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Insider Activity at Boeing

In other news, Director Bradley D. Tilden bought 1,370 shares of the stock in a transaction dated Wednesday, May 20th. The stock was bought at an average price of $218.50 per share, for a total transaction of $299,345.00. Following the completion of the acquisition, the director directly owned 1,370 shares in the company, valued at approximately $299,345. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.10% of the stock is currently owned by corporate insiders.

Boeing Stock Down 2.2%

Shares of NYSE:BA opened at $226.48 on Tuesday. The business’s 50 day moving average is $221.91 and its 200 day moving average is $222.66. The Boeing Company has a 12-month low of $176.77 and a 12-month high of $254.35. The stock has a market cap of $179.00 billion, a price-to-earnings ratio of 98.04 and a beta of 1.21. The company has a quick ratio of 0.33, a current ratio of 1.14 and a debt-to-equity ratio of 6.77.

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. 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. BNP Paribas Exane upgraded Boeing from an “underperform” rating to an “outperform” rating and upped their target price for the company from $230.00 to $300.00 in a research report on Monday, August 3rd. The Goldman Sachs Group cut Boeing from a “buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Citigroup downgraded Boeing from a “buy” rating to a “sell” rating in a report on Tuesday, August 11th. Finally, Tigress Financial boosted their price target on Boeing from $295.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $272.58.

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.