Buffalo Business & Estate Services Ltd. Buys 31,897 Shares of The Boeing Company $BA

Buffalo Business & Estate Services Ltd. raised its stake in shares of The Boeing Company (NYSE:BA) by 439.2% during the first quarter, HoldingsChannel reports. The firm owned 39,160 shares of the aircraft producer’s stock after buying an additional 31,897 shares during the quarter. Boeing comprises 1.1% of Buffalo Business & Estate Services Ltd.’s holdings, making the stock its 18th largest position. Buffalo Business & Estate Services Ltd.’s holdings in Boeing were worth $7,794,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BA. Measured Wealth Private Client Group LLC bought a new position in shares of Boeing during the 3rd quarter valued at approximately $25,000. Strive Financial Group LLC bought a new stake in Boeing in the fourth quarter worth $25,000. CrossGen Wealth LLC bought a new stake in Boeing in the fourth quarter worth $26,000. Ares Financial Consulting LLC purchased a new position in Boeing during the fourth quarter worth $26,000. Finally, 1 North Wealth Services LLC purchased a new position in Boeing during the fourth quarter worth $27,000. 64.82% of the stock is owned by institutional investors.

Boeing Stock Performance

BA stock opened at $220.93 on Tuesday. The Boeing Company has a twelve month low of $176.77 and a twelve month high of $254.35. The firm has a market cap of $174.16 billion, a price-to-earnings ratio of 107.25 and a beta of 1.19. The business’s fifty day simple moving average is $224.24 and its two-hundred day simple moving average is $223.18. The company has a quick ratio of 0.35, a current ratio of 1.18 and a debt-to-equity ratio of 7.42.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.48. The company had revenue of $22.22 billion for the quarter, compared to analysts’ expectations of $22.15 billion. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.49) earnings per share. Analysts predict that The Boeing Company will post -0.15 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Bradley D. Tilden acquired 1,370 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average price of $218.50 per share, for a total transaction of $299,345.00. Following the acquisition, the director directly owned 1,370 shares of the company’s stock, valued at $299,345. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on BA. Citigroup increased their target price on shares of Boeing from $256.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Weiss Ratings cut shares of Boeing from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, April 24th. Wells Fargo & Company assumed coverage on shares of Boeing in a report on Wednesday, April 1st. They set an “overweight” rating and a $250.00 price target on the stock. Jefferies Financial Group reiterated a “buy” rating on shares of Boeing in a report on Wednesday, March 4th. Finally, Wolfe Research reissued an “outperform” rating and issued a $275.00 price objective on shares of Boeing in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.32.

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.