836,569 Shares in The Boeing Company $BA Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in The Boeing Company (NYSE:BA) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 836,569 shares of the aircraft producer’s stock, valued at approximately $181,092,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.11% of Boeing as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Boeing in the second quarter valued at $678,000. Clarion Wealth Managment Partners LLC acquired a new position in shares of Boeing during the 2nd quarter worth $249,000. Mission Financial Group LLC acquired a new position in shares of Boeing during the 2nd quarter worth $442,000. Pinnacle Holdings LLC purchased a new position in shares of Boeing in the 2nd quarter valued at about $2,287,000. Finally, LM Advisors LLC purchased a new position in shares of Boeing in the 2nd quarter valued at about $431,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on BA. Sanford C. Bernstein began coverage on shares of Boeing in a report on Tuesday, August 11th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. increased their target price on shares of Boeing from $270.00 to $290.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. UBS Group started coverage on shares of Boeing in a research report on Tuesday, August 11th. They set a “buy” rating for the company. Robert W. Baird set a $300.00 price target on Boeing in a research note on Wednesday, July 29th. 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 investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and an average price target of $272.58.

Boeing Stock Performance

Shares of BA opened at $214.20 on Monday. 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 stock has a market cap of $169.30 billion, a P/E ratio of 92.73 and a beta of 1.21. The company has a 50-day moving average of $222.11 and a two-hundred day moving average of $222.18. The Boeing Company has a 12-month low of $176.77 and a 12-month high of $254.35.

Boeing (NYSE:BA) last announced 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 business 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 firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the company earned ($1.24) EPS. As a group, research analysts predict that The Boeing Company will post -0.87 EPS for the current fiscal 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.