Grove Bank & Trust Sells 3,227 Shares of The Boeing Company $BA

Grove Bank & Trust lowered its stake in shares of The Boeing Company (NYSE:BA) by 31.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,045 shares of the aircraft producer’s stock after selling 3,227 shares during the quarter. Grove Bank & Trust’s holdings in Boeing were worth $1,311,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Highland Investment Advisors LLC acquired a new position in shares of Boeing during the second quarter worth approximately $26,000. 1 North Wealth Services LLC bought a new stake in shares of Boeing during the fourth quarter valued at approximately $27,000. Wealth Preservation Advisors LLC increased its holdings in shares of Boeing by 66.7% in the fourth quarter. Wealth Preservation Advisors LLC now owns 125 shares of the aircraft producer’s stock valued at $27,000 after purchasing an additional 50 shares in the last quarter. Strategic Wealth Advisors LLC bought a new position in Boeing in the 2nd quarter worth approximately $27,000. Finally, Bell Investment Advisors Inc bought a new position in Boeing in the 2nd quarter worth approximately $29,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Trending Headlines about Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Potential Southwest 787 order: Southwest Airlines is reportedly leaning toward Boeing’s 787 Dreamliner as it evaluates launching long-haul international service. A selection could provide Boeing with a meaningful new customer and support future commercial-aircraft demand. Reuters article
• Positive Sentiment: Large defense contract strengthens backlog: Lockheed Martin awarded Boeing an approximately $14.7 billion, seven-year contract to scale production of PAC-3 Missile Segment Enhancement seekers. The program is expected to triple output and adds longer-term visibility to Boeing’s defense business. Boeing wins PAC-3 contract article
• Neutral Sentiment: $715 billion backlog offers opportunity but not immediate cash flow: Boeing’s substantial order book indicates strong long-term demand, but aircraft must still be produced and delivered before orders translate into revenue, cash generation and earnings. Investors therefore remain focused on production rates and delivery execution. Boeing backlog article
• Negative Sentiment: Financial and execution risks remain central: Coverage highlights Boeing’s heavy debt burden, production delays and poor return on invested capital. Despite recent contract wins and potential debt reduction, these issues make the backlog less valuable until Boeing can improve deliveries, cash flow and profitability. Boeing financial outlook article
• Negative Sentiment: Profitability quality is being questioned: Analysts are scrutinizing Boeing’s combination of positive reported net income and negative EBITDA, while the company’s prior earnings miss and weak operating metrics reinforce concerns about the sustainability of its recovery. Boeing EBITDA and net income article
• Negative Sentiment: Competitive pressure in airline technology: American Airlines’ expansion of SpaceX Starlink connectivity to more than 1,000 aircraft could raise customer expectations for onboard internet, potentially requiring Boeing and airline customers to respond with comparable offerings. Starlink airline rollout article

Wall Street Analyst Weigh In

Several research analysts have issued reports on BA shares. JPMorgan Chase & Co. upped their price objective on Boeing from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Cantor Fitzgerald downgraded Boeing to a “neutral” rating in a research report on Tuesday, August 11th. Bank of America reaffirmed a “buy” rating and set a $270.00 price target on shares of Boeing in a research note on Friday, September 18th. UBS Group reiterated a “buy” rating on shares of Boeing in a report on Tuesday, September 29th. Finally, Robert W. Baird set a $300.00 price objective on Boeing in a research report on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $272.33.

Boeing Trading Down 0.3%

BA stock traded down $0.64 during midday trading on Thursday, reaching $187.68. The company’s stock had a trading volume of 11,337,637 shares, compared to its average volume of 6,866,391. The Boeing Company has a 52 week low of $176.77 and a 52 week high of $254.35. The stock has a market cap of $148.34 billion, a PE ratio of 81.25 and a beta of 1.26. 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 simple moving average is $210.22 and its 200-day simple moving average is $216.03.

Boeing (NYSE:BA) last released its 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 business had revenue of $24.56 billion for the quarter, compared to analyst estimates of $24.26 billion. Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.Boeing’s revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.24) EPS. As a group, sell-side analysts expect that The Boeing Company will post -0.91 EPS for the current year.

Boeing Company Profile

The Boeing Company (NYSE: BA) is a global aerospace company that designs, manufactures and supports commercial airplanes, military aircraft, spacecraft and related systems. Its commercial portfolio includes the 737, 787 Dreamliner and 777 families, as well as the 777X program. Boeing sells aircraft to airlines, cargo operators and leasing companies around the world.

Through its defense and space operations, Boeing provides products and services for the U.S. government, allied governments and other institutional customers.