Mission Wealth Management LP Sells 4,479 Shares of The Boeing Company $BA

Mission Wealth Management LP trimmed its stake in The Boeing Company (NYSE:BA) by 27.9% during the 4th quarter, HoldingsChannel reports. The fund owned 11,573 shares of the aircraft producer’s stock after selling 4,479 shares during the quarter. Mission Wealth Management LP’s holdings in Boeing were worth $2,513,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of BA. Vanguard Group Inc. raised its stake in shares of Boeing by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 70,989,438 shares of the aircraft producer’s stock worth $15,413,227,000 after purchasing an additional 3,460,021 shares during the last quarter. Newport Trust Company LLC raised 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 worth $6,301,901,000 after purchasing an additional 707,490 shares during the last quarter. Great Lakes Advisors LLC raised its stake in shares of Boeing by 25,532.3% in the third quarter. Great Lakes Advisors LLC now owns 424,983 shares of the aircraft producer’s stock worth $91,725,000 after purchasing an additional 423,325 shares during the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Boeing in the fourth quarter worth $89,368,000. Finally, Bessemer Group Inc. raised its stake in shares of Boeing by 50.3% in the third quarter. Bessemer Group Inc. now owns 1,069,819 shares of the aircraft producer’s stock worth $230,900,000 after purchasing an additional 357,995 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Up 0.0%

Boeing stock opened at $220.54 on Tuesday. The stock has a market cap of $173.85 billion, a PE ratio of 107.06 and a beta of 1.21. The company has a debt-to-equity ratio of 7.42, a quick ratio of 0.35 and a current ratio of 1.18. The Boeing Company has a one year low of $176.77 and a one year high of $254.35. The stock has a fifty day moving average of $217.58 and a 200 day moving average of $218.32.

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

Key Headlines Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Citi turned constructive on the aerospace selloff, calling it a buying opportunity and raising its price target on Boeing to $260, which supports the bullish case for the stock. Boeing Stock (NYSE:BA) Suffers Further From Deal Disappointment
• Positive Sentiment: Market commentary around Boeing’s China order highlights that it reopens a key growth market after a long absence, which could help future sales if additional orders follow. Boeing Just Got Its First Major China Order in Nearly a Decade and the Stock Is Down 7%. Here Is Why That Is the Entry
• Neutral Sentiment: Ryanair’s strong profit report reinforced healthy air-travel demand, which is generally supportive for aircraft manufacturers like Boeing, even though the airline also cited Boeing delivery delays as a headwind. Ryanair profits surge 40% to €2.26 billion despite Boeing delays and fuel crisis
• Negative Sentiment: Investor reaction has been cautious because the China order fell short of the “mega deal” speculation that had built up ahead of the announcement, weighing on sentiment for BA. Assessing Boeing’s Valuation As China’s 200 Plane Order Disappoints High Market Expectations
• Negative Sentiment: Further commentary on the deal disappointment suggests the market is still focusing on Boeing’s execution challenges and not just the headline order size. Boeing Stock (NYSE:BA) Suffers Further From Deal Disappointment

Analysts Set New Price Targets

BA has been the subject of several recent analyst reports. Tigress Financial boosted their price target on Boeing from $290.00 to $295.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Vertical Research restated a “buy” rating and issued a $281.00 price target on shares of Boeing in a research note on Tuesday, January 27th. JPMorgan Chase & Co. boosted their price target on Boeing from $245.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. UBS Group boosted their price target on Boeing from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Boeing in a research note on Wednesday, March 4th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $259.80.

Insiders Place Their Bets

In related news, EVP Uma M. Amuluru sold 1,503 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $233.78, for a total transaction of $351,371.34. Following the completion of the sale, the executive vice president owned 19,015 shares in the company, valued at approximately $4,445,326.70. This represents a 7.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mortimer J. Buckley acquired 2,230 shares of Boeing stock in a transaction that occurred on Tuesday, March 3rd. The shares were purchased at an average price of $224.20 per share, with a total value of $499,966.00. Following the transaction, the director owned 4,430 shares of the company’s stock, valued at $993,206. The trade was a 101.36% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.10% of the stock is currently owned by corporate insiders.

Boeing 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.