Castleark Management LLC Makes New $12.88 Million Investment in The Boeing Company $BA

Castleark Management LLC purchased a new stake in The Boeing Company (NYSE:BA) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 59,520 shares of the aircraft producer’s stock, valued at approximately $12,884,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BA. Measured Wealth Private Client Group LLC acquired a new stake in shares of Boeing in the 3rd quarter worth $25,000. Strive Financial Group LLC acquired a new position in shares of Boeing during the 4th quarter valued at about $25,000. Ares Financial Consulting LLC purchased a new stake in shares of Boeing in the fourth quarter valued at about $26,000. CrossGen Wealth LLC acquired a new stake in Boeing during the fourth quarter worth about $26,000. Finally, Strategic Wealth Advisors LLC purchased a new position in Boeing during the fourth quarter worth about $27,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BA shares. Wolfe Research downgraded shares of Boeing from an “outperform” rating to a “hold” rating in a report on Tuesday, August 11th. Citigroup cut Boeing from a “buy” rating to a “sell” rating in a research note on Tuesday, August 11th. Royal Bank Of Canada reduced their target price on Boeing from $275.00 to $265.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. William Blair reaffirmed an “outperform” rating on shares of Boeing in a research note on Tuesday, July 28th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Boeing in a research report on Tuesday, July 21st. 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 given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $272.58.

Boeing Stock Up 0.3%

Shares of NYSE BA opened at $211.09 on Wednesday. The company has a quick ratio of 0.33, a current ratio of 1.14 and a debt-to-equity ratio of 6.77. The business’s 50 day moving average is $221.41 and its two-hundred day moving average is $221.85. The Boeing Company has a 52-week low of $176.77 and a 52-week high of $254.35. The firm has a market cap of $166.84 billion, a price-to-earnings ratio of 91.38 and a beta of 1.21.

Boeing (NYSE:BA) last released its quarterly earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.42). The firm had revenue of $24.56 billion for the quarter, compared to analysts’ expectations of $24.26 billion. Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.The company’s quarterly revenue 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. Research analysts predict that The Boeing Company will post -0.87 EPS for the current year.

Boeing News Roundup

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Major F-15 defense award: The U.S. Air Force awarded Boeing an indefinite-delivery/indefinite-quantity contract with a ceiling of approximately $131.2 billion for the F-15 Eagle Crest program. The agreement covers aircraft production, upgrades, maintenance and sustainment through August 2037, potentially strengthening Boeing’s defense revenue visibility and helping its struggling defense division. The full contract value is a ceiling rather than guaranteed revenue, so the actual financial benefit will depend on future orders. Reuters F-15 contract article
• Positive Sentiment: Turnaround and portfolio focus: Boeing sold three businesses in one week, including a transaction involving Archer Aviation. The divestitures could simplify the company, improve capital allocation and allow management to focus on commercial aircraft and core defense operations. The Archer arrangement adds strategic value, although analysts indicate it is unlikely to materially affect near-term earnings. Boeing business sales and Archer article
• Neutral Sentiment: Additional defense and commercial activity: Boeing continues to receive support from demand for its P-8 Poseidon program and delivered another 777 freighter to National Airlines. These developments reinforce aircraft demand and backlog potential but are relatively small compared with the F-15 award and are unlikely to change near-term valuation on their own. P-8 Poseidon demand article
• Negative Sentiment: Labor uncertainty: The Society of Professional Engineering Employees in Aerospace rejected Boeing’s proposed agreement by a wide margin. A difficult contract renegotiation could increase labor costs, disrupt engineering work or delay Boeing’s operational recovery. SPEEA vote article

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.