Hodges Capital Management Inc. Boosts Holdings in The Boeing Company $BA

Hodges Capital Management Inc. increased its holdings in The Boeing Company (NYSE:BA) by 19.5% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 52,413 shares of the aircraft producer’s stock after purchasing an additional 8,538 shares during the period. Hodges Capital Management Inc.’s holdings in Boeing were worth $11,312,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BA. Wallace Advisory Group LLC lifted its stake in shares of Boeing by 1.2% in the 2nd quarter. Wallace Advisory Group LLC now owns 3,570 shares of the aircraft producer’s stock valued at $748,000 after acquiring an additional 44 shares during the last quarter. Blue Barn Wealth LLC increased its stake in Boeing by 1.8% in the 2nd quarter. Blue Barn Wealth LLC now owns 2,594 shares of the aircraft producer’s stock worth $544,000 after purchasing an additional 46 shares during the period. N.E.W. Advisory Services LLC lifted its position in Boeing by 3.1% in the third quarter. N.E.W. Advisory Services LLC now owns 1,540 shares of the aircraft producer’s stock valued at $332,000 after purchasing an additional 46 shares during the last quarter. Motco boosted its stake in shares of Boeing by 5.4% during the third quarter. Motco now owns 921 shares of the aircraft producer’s stock valued at $199,000 after purchasing an additional 47 shares during the period. Finally, Encompass Wealth Advisors LLC grew its holdings in shares of Boeing by 0.9% in the third quarter. Encompass Wealth Advisors LLC now owns 5,045 shares of the aircraft producer’s stock worth $1,089,000 after purchasing an additional 47 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

BA has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of Boeing from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. Wolfe Research restated an “outperform” rating on shares of Boeing in a research report on Tuesday, January 27th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Boeing in a research note on Tuesday, December 9th. Tigress Financial reissued a “buy” rating and issued a $275.00 target price on shares of Boeing in a research note on Monday, December 29th. Finally, Loop Capital set a $223.00 price target on Boeing in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $246.14.

Boeing Stock Performance

Boeing stock opened at $243.86 on Wednesday. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $254.35. The company has a quick ratio of 0.40, a current ratio of 1.19 and a debt-to-equity ratio of 8.37. The company has a market capitalization of $191.51 billion, a P/E ratio of 121.32 and a beta of 1.15. The stock’s 50 day moving average is $230.52 and its 200 day moving average is $219.60.

Boeing (NYSE:BA) last announced its quarterly earnings data on Tuesday, January 27th. The aircraft producer reported $9.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $10.32. The company had revenue of $23.95 billion for the quarter, compared to analysts’ expectations of $22.41 billion. During the same quarter in the previous year, the firm posted ($5.90) EPS. The firm’s quarterly revenue was up 57.1% compared to the same quarter last year. On average, equities research analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Dana S. Deasy acquired 554 shares of Boeing stock in a transaction on Monday, November 24th. The stock was acquired at an average cost of $178.88 per share, for a total transaction of $99,099.52. Following the purchase, the senior vice president owned 28,442 shares in the company, valued at $5,087,704.96. This trade represents a 1.99% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Howard E. Mckenzie sold 10,497 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $233.99, for a total transaction 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 position. The SEC filing for this sale provides additional information. 0.09% of the stock is currently owned by company insiders.

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.