UNIVEST FINANCIAL Corp Takes Position in The Boeing Company $BA

UNIVEST FINANCIAL Corp purchased a new stake in The Boeing Company (NYSE:BA) in the 2nd quarter, HoldingsChannel reports. The firm purchased 3,053 shares of the aircraft producer’s stock, valued at approximately $661,000.

A number of other hedge funds also recently bought and sold shares of BA. Vanguard Group Inc. lifted its position in shares of Boeing by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 70,989,438 shares of the aircraft producer’s stock valued at $15,413,227,000 after buying an additional 3,460,021 shares in the last quarter. Newport Trust Company LLC increased its holdings in Boeing by 1.0% in the 4th quarter. Newport Trust Company LLC now owns 29,485,294 shares of the aircraft producer’s stock worth $6,401,847,000 after acquiring an additional 286,848 shares in the last quarter. Geode Capital Management LLC raised its position in Boeing by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 17,025,435 shares of the aircraft producer’s stock worth $3,679,592,000 after acquiring an additional 533,753 shares during the period. Fisher Asset Management LLC lifted its holdings in Boeing by 2.5% during the fourth quarter. Fisher Asset Management LLC now owns 5,640,900 shares of the aircraft producer’s stock valued at $1,224,752,000 after purchasing an additional 135,860 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Boeing by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,370,415 shares of the aircraft producer’s stock valued at $948,905,000 after purchasing an additional 138,469 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Down 2.2%

Shares of Boeing stock opened at $226.48 on Tuesday. The stock has a market cap of $179.00 billion, a P/E ratio of 98.04 and a beta of 1.21. The stock’s 50 day simple moving average is $221.91 and its 200-day simple moving average is $222.66. The Boeing Company has a 1-year low of $176.77 and a 1-year high of $254.35. The company has a debt-to-equity ratio of 6.77, a current ratio of 1.14 and a quick ratio of 0.33.

Boeing (NYSE:BA) last posted its quarterly earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share (EPS) 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 company had revenue of $24.56 billion during the quarter, compared to analysts’ expectations of $24.26 billion. During the same quarter last year, the company earned ($1.24) earnings per share. Boeing’s revenue for the quarter was up 8.0% on a year-over-year basis. Analysts predict that The Boeing Company will post -0.87 EPS for the current fiscal year.

Insider Transactions at Boeing

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

Analysts Set New Price Targets

Several analysts have recently issued reports on BA shares. Robert W. Baird set a $300.00 target price on shares of Boeing in a research report on Wednesday, July 29th. Cantor Fitzgerald cut Boeing to a “neutral” rating in a research report on Tuesday, August 11th. Btg Pactual set a $260.00 price objective on Boeing in a research note on Tuesday, July 14th. Weiss Ratings restated a “sell (d+)” rating on shares of Boeing in a report on Tuesday, July 21st. Finally, UBS Group began coverage on shares of Boeing in a research note on Tuesday, August 11th. They set a “buy” rating on the stock. 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and an average target price of $272.58.

Boeing Company 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.