Ieq Capital LLC Buys Shares of 138,120 The Boeing Company $BA

Ieq Capital LLC purchased a new position in shares of The Boeing Company (NYSE:BA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 138,120 shares of the aircraft producer’s stock, valued at approximately $29,899,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in BA. Callan Family Office LLC purchased a new stake in Boeing in the second quarter worth about $9,712,000. Manhattan West Asset Management LLC purchased a new position in Boeing during the 2nd quarter valued at about $316,000. Keebeck Wealth Management bought a new stake in shares of Boeing in the 2nd quarter valued at about $351,000. Keating Financial Advisory Services Inc. bought a new stake in shares of Boeing in the 2nd quarter valued at about $308,000. Finally, Patron Partners LLC bought a new position in Boeing in the second quarter worth approximately $499,000. 64.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Tigress Financial increased their target price on Boeing from $295.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Wolfe Research cut Boeing from an “outperform” rating to a “hold” rating in a research note on Tuesday, August 11th. Sanford C. Bernstein initiated coverage on Boeing in a research note on Tuesday, August 11th. They issued an “outperform” rating on the stock. The Goldman Sachs Group downgraded shares of Boeing from a “buy” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, William Blair reissued an “outperform” rating on shares of Boeing in a research report on Tuesday, July 28th. One equities 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $272.58.

Boeing Stock Performance

Shares of BA opened at $214.20 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.33 and a debt-to-equity ratio of 6.77. The firm has a market cap of $169.30 billion, a PE ratio of 92.73 and a beta of 1.21. The Boeing Company has a 12 month low of $176.77 and a 12 month high of $254.35. The stock has a fifty day moving average price of $222.11 and a 200-day moving average price of $222.26.

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

More Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: The U.S. State Department approved a potential $4.5 billion sale of KC-46A tanker aircraft to Qatar. The approval supports Boeing’s defense backlog, although the transaction still requires finalization. US approves potential $4.5B sale of Boeing KC-46A tankers to Qatar
• Positive Sentiment: Boeing’s agreement to sell or transfer businesses including Wisk Aero, Insitu and SkyGrid to Archer Aviation, while taking a strategic stake in Archer, could generate cash and provide exposure to autonomous and electric aviation markets. However, the deal’s financial impact and execution remain uncertain. Archer Aviation bets big on becoming more than an air taxi company
• Neutral Sentiment: AerCap delivered its tenth Boeing 787 to Grupo Aeromexico, marking its 100th 787 delivery from its direct order book. The milestone signals continuing customer demand for the Dreamliner but is not a new Boeing order or immediate revenue catalyst. AerCap Holdings compared with Boeing
• Negative Sentiment: Voting ends on Boeing’s proposed four-year contract with the Society of Professional Engineering Employees in Aerospace, representing roughly 17,000 engineers and technical workers. A rejection could authorize a strike after the current contracts expire on October 6, raising concerns about production, certification and delivery schedules. Results were expected Friday afternoon. Boeing white-collar union contract vote results expected today
• Negative Sentiment: The labor uncertainty is outweighing recent operating progress, including higher commercial deliveries and efforts to increase 737 production. Investors appear concerned that a work stoppage could interrupt Boeing’s recovery. Boeing slides as labor vote uncertainty outweighs operational progress
• Negative Sentiment: Boeing is advancing repairs to Air Force One, but window replacement and interior work could threaten the program’s schedule, adding another execution risk to the company’s defense business. Boeing advances Air Force One repairs

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.