The Boeing Company $BA Stock: Parallel Advisors LLC Lowers Stake

Parallel Advisors LLC lowered its stake in The Boeing Company (NYSE:BA) by 23.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 9,868 shares of the aircraft producer’s stock after selling 3,033 shares during the period. Parallel Advisors LLC’s holdings in Boeing were worth $1,836,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jupiter Topco LLC purchased a new position in shares of Boeing in the 2nd quarter worth $911,878,000. Bank of New York Mellon Corp bought a new stake in shares of Boeing in the second quarter worth $747,763,000. Legal & General Group Plc bought a new stake in shares of Boeing in the second quarter worth $710,816,000. Deutsche Bank AG purchased a new stake in Boeing during the second quarter valued at $539,456,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Boeing during the second quarter valued at $441,997,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Key Stories Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing’s reported $745 billion order book points to substantial longer-term demand for its aircraft, providing a potential offset to concerns about the pace of production. Article: Boeing (BA): A Top 10 Dow Stock for 2027 With a Record $745B of Orders
• Negative Sentiment: Boeing plans to cut about 5% of its commercial-airplane workforce through layoffs and attrition because production is increasing more slowly than previously expected. The announcement underscores a more cautious production ramp and may weigh on confidence in the division’s recovery, even as staffing reductions could help control costs. Article: Boeing to cut 5% of commercial airplane workforce as production increase is slower than expected

Boeing Price Performance

Shares of NYSE BA opened at $172.64 on Tuesday. The firm has a fifty day moving average price of $191.65 and a 200-day moving average price of $215.03. The company has a debt-to-equity ratio of 6.31, a current ratio of 1.13 and a quick ratio of 0.34. The Boeing Company has a 1 year low of $165.01 and a 1 year high of $254.35.

Boeing (NYSE:BA) last announced its quarterly earnings data on Tuesday, October 27th. The aircraft producer reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.09). Boeing had a net margin of 7.98% and a negative return on equity of 42.40%. The firm had revenue of $24.19 billion for the quarter, compared to the consensus estimate of $23.95 billion. During the same quarter in the previous year, the business earned ($7.47) earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. Analysts anticipate that The Boeing Company will post -1.84 earnings per share for the current year.

Insiders Place Their Bets

In other Boeing news, Director Mortimer J. Buckley acquired 5,820 shares of the stock in a transaction dated Friday, October 30th. The shares were acquired at an average cost of $171.55 per share, for a total transaction of $998,421.00. Following the completion of the transaction, the director directly owned 10,250 shares of the company’s stock, valued at approximately $1,758,387.50. The trade was a 131.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Steven M. Mollenkopf acquired 2,950 shares of the company’s stock in a transaction dated Friday, October 30th. The stock was acquired at an average cost of $173.03 per share, with a total value of $510,438.50. Following the purchase, the director owned 6,717 shares of the company’s stock, valued at approximately $1,162,242.51. This trade represents a 78.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BA shares. The Goldman Sachs Group reissued a “buy” rating and issued a $238.00 target price on shares of Boeing in a research report on Wednesday, October 28th. Jefferies Financial Group lowered shares of Boeing from a “buy” rating to a “hold” rating in a research report on Wednesday, October 28th. Wall Street Zen cut shares of Boeing from a “hold” rating to a “sell” rating in a research note on Saturday, October 24th. Langenberg & Company set a $250.00 price objective on shares of Boeing in a research note on Tuesday, October 27th. Finally, Morgan Stanley dropped their price objective on shares of Boeing from $225.00 to $195.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $247.88.

Boeing Company Profile

The Boeing Company is an aerospace manufacturer that designs, builds and supports commercial airplanes, defense products and space systems. Its commercial aircraft include the 737, 767, 777 and 787 families, which serve passenger and cargo operators around the world.

Boeing’s defense, space and security business supplies military aircraft, helicopters, weapons, satellites and related systems, as well as services for government customers. Its Boeing Global Services business provides support such as maintenance, parts, training and logistics for commercial and government customers.

Founded in 1916 by William Boeing, the company has grown into a global aerospace business serving customers across the Americas, Europe, Asia and other regions.