OVERSEA CHINESE BANKING Corp Ltd Buys Shares of 4,326 The Boeing Company $BA

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of The Boeing Company (NYSE:BA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,326 shares of the aircraft producer’s stock, valued at approximately $940,000.

Several other hedge funds have also made changes to their positions in BA. Vanguard Group Inc. grew 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 purchased a new stake in Boeing during the 2nd quarter worth approximately $747,763,000. Deutsche Bank AG acquired a new stake in Boeing during the 2nd quarter worth approximately $539,456,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Boeing during the 2nd quarter worth approximately $441,997,000. Finally, Alyeska Investment Group L.P. boosted its position in 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. Institutional investors and hedge funds own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on BA. The Goldman Sachs Group downgraded shares of Boeing from a “buy” rating to a “hold” rating in a research note on Tuesday, August 11th. UBS Group started coverage on Boeing in a research note on Tuesday, August 11th. They issued a “buy” rating on the stock. BNP Paribas Exane upgraded Boeing from an “underperform” rating to an “outperform” rating and lifted their target price for the company from $230.00 to $300.00 in a report on Monday, August 3rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Boeing in a research note on Tuesday, July 21st. Finally, Tigress Financial upped their price target on Boeing from $295.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. 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 issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $272.58.

Key Headlines Impacting Boeing

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

Boeing Price Performance

Shares of BA opened at $214.20 on Friday. The Boeing Company has a 1-year low of $176.77 and a 1-year high of $254.35. The stock has a market cap of $169.30 billion, a PE ratio of 92.73 and a beta of 1.21. The company has a debt-to-equity ratio of 6.77, a current ratio of 1.14 and a quick ratio of 0.33. The firm has a fifty day moving average price of $222.11 and a 200 day moving average price of $222.26.

Boeing (NYSE:BA) last issued its quarterly earnings data 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). Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.The firm had revenue of $24.56 billion for the quarter, compared to analysts’ expectations of $24.26 billion. During the same period in the previous year, the business posted ($1.24) EPS. The business’s revenue for the quarter 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 EPS 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.