K.J. Harrison & Partners Inc Buys New Position in The Boeing Company $BA

K.J. Harrison & Partners Inc purchased a new position in The Boeing Company (NYSE:BA) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 11,355 shares of the aircraft producer’s stock, valued at approximately $2,458,000.

Several other large investors have also added to or reduced their stakes in the stock. Revolve Wealth Partners LLC purchased a new stake in shares of Boeing in the 4th quarter worth about $201,000. Sivia Capital Partners LLC boosted its stake in shares of Boeing by 16.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,529 shares of the aircraft producer’s stock valued at $320,000 after purchasing an additional 217 shares in the last quarter. AXA S.A. increased its position in shares of Boeing by 1,225.7% during the second quarter. AXA S.A. now owns 34,655 shares of the aircraft producer’s stock valued at $7,261,000 after buying an additional 32,041 shares during the period. Ieq Capital LLC increased its position in shares of Boeing by 243.8% during the second quarter. Ieq Capital LLC now owns 33,485 shares of the aircraft producer’s stock valued at $7,016,000 after buying an additional 23,746 shares during the period. Finally, Alliancebernstein L.P. raised its stake in Boeing by 4.2% in the second quarter. Alliancebernstein L.P. now owns 1,334,451 shares of the aircraft producer’s stock worth $279,608,000 after buying an additional 53,736 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

BA has been the subject of several research analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of Boeing in a report on Tuesday, July 21st. Argus raised Boeing from a “hold” rating to a “buy” rating and set a $265.00 target price for the company in a research report on Tuesday, August 11th. Barclays cut Boeing from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, August 11th. Tigress Financial lifted their price target on Boeing from $295.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Cantor Fitzgerald cut Boeing to a “neutral” rating in a research note on Tuesday, August 11th. 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, Boeing presently has an average rating of “Moderate Buy” and an average target price of $272.58.

Insider Activity at Boeing

In related news, Director Bradley D. Tilden purchased 1,370 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average price of $218.50 per share, for a total transaction of $299,345.00. Following the purchase, the director directly owned 1,370 shares of the company’s stock, valued at approximately $299,345. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is currently owned by corporate insiders.

Boeing Trading Down 2.2%

NYSE:BA opened at $226.48 on Tuesday. The firm has a market capitalization of $179.00 billion, a P/E ratio of 98.04 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 Boeing Company has a one year low of $176.77 and a one year high of $254.35. The company’s 50-day simple moving average is $221.91 and its 200 day simple moving average is $222.66.

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 analysts’ consensus estimates of ($0.34) by ($0.42). Boeing had a net margin of 2.41% and a negative return on equity of 346.82%. The business had revenue of $24.56 billion for the quarter, compared to the consensus estimate of $24.26 billion. During the same period in the prior year, the business posted ($1.24) EPS. Boeing’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, analysts forecast that The Boeing Company will post -0.87 EPS for the current fiscal year.

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.