Zweig DiMenna Associates LLC Acquires Shares of 15,900 The Boeing Company $BA

Zweig DiMenna Associates LLC purchased a new stake in shares of The Boeing Company (NYSE:BA) during the 3rd quarter, Holdings Channel reports. The fund purchased 15,900 shares of the aircraft producer’s stock, valued at approximately $3,432,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Boeing by 1.1% in the third quarter. Vanguard Group Inc. now owns 67,529,417 shares of the aircraft producer’s stock worth $14,574,874,000 after purchasing an additional 756,057 shares during the last quarter. Newport Trust Company LLC increased its stake in shares of Boeing by 2.5% in the third quarter. Newport Trust Company LLC now owns 29,198,446 shares of the aircraft producer’s stock valued at $6,301,901,000 after buying an additional 707,490 shares during the period. Geode Capital Management LLC raised its position in shares of Boeing by 2.7% during the second quarter. Geode Capital Management LLC now owns 16,316,838 shares of the aircraft producer’s stock worth $3,402,073,000 after acquiring an additional 432,026 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Boeing by 3.8% in the second quarter. Fisher Asset Management LLC now owns 5,327,443 shares of the aircraft producer’s stock worth $1,116,259,000 after acquiring an additional 196,666 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Boeing by 1.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 4,242,397 shares of the aircraft producer’s stock valued at $888,910,000 after acquiring an additional 44,338 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Up 1.5%

BA opened at $242.96 on Tuesday. The company has a market cap of $190.80 billion, a P/E ratio of 120.87 and a beta of 1.15. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $254.35. The company has a current ratio of 1.19, a quick ratio of 0.40 and a debt-to-equity ratio of 8.37. The business’s 50-day moving average price is $229.65 and its 200-day moving average price is $219.45.

Boeing (NYSE:BA) last announced its earnings results on Tuesday, January 27th. The aircraft producer reported $9.92 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $10.32. The firm had revenue of $23.95 billion during the quarter, compared to the consensus estimate of $22.41 billion. The firm’s revenue was up 57.1% on a year-over-year basis. During the same period in the prior year, the company posted ($5.90) EPS. On average, equities analysts expect that The Boeing Company will post -2.58 EPS for the current year.

Analysts Set New Price Targets

BA has been the topic of a number of analyst reports. Argus raised shares of Boeing to a “hold” rating in a research note on Monday, February 2nd. BNP Paribas Exane set a $150.00 price target on shares of Boeing in a research report on Tuesday, November 18th. UBS Group raised their target price on Boeing from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. The Goldman Sachs Group reiterated a “buy” rating on shares of Boeing in a report on Tuesday, December 9th. Finally, Zacks Research raised shares of Boeing from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $246.14.

Insiders Place Their Bets

In related news, EVP Howard E. Mckenzie sold 10,497 shares of the business’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $233.99, for a total value of $2,456,193.03. Following the sale, the executive vice president owned 14,692 shares in the company, valued at approximately $3,437,781.08. The trade was a 41.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Uma M. Amuluru sold 2,731 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $236.00, for a total transaction of $644,516.00. Following the transaction, the executive vice president owned 11,925 shares in the company, valued at $2,814,300. This trade represents a 18.63% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.09% of the stock is currently owned by corporate insiders.

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.