Legato Capital Management LLC Acquires New Position in The Boeing Company $BA

Legato Capital Management LLC acquired a new stake in The Boeing Company (NYSE:BA) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,500 shares of the aircraft producer’s stock, valued at approximately $543,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fisher Asset Management LLC grew its holdings in shares of Boeing by 3.3% during the third quarter. Fisher Asset Management LLC now owns 5,505,040 shares of the aircraft producer’s stock valued at $1,188,153,000 after purchasing an additional 177,597 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Boeing by 41.1% during the third quarter. Russell Investments Group Ltd. now owns 223,824 shares of the aircraft producer’s stock valued at $48,316,000 after purchasing an additional 65,216 shares during the last quarter. Princeton Capital Management LLC grew its holdings in shares of Boeing by 78.3% during the fourth quarter. Princeton Capital Management LLC now owns 12,249 shares of the aircraft producer’s stock valued at $2,660,000 after purchasing an additional 5,381 shares during the last quarter. Granite Investment Partners LLC grew its holdings in shares of Boeing by 1,984.0% during the third quarter. Granite Investment Partners LLC now owns 31,448 shares of the aircraft producer’s stock valued at $6,787,000 after purchasing an additional 29,939 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new position in shares of Boeing during the fourth quarter valued at approximately $55,787,000. 64.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BA shares. Morgan Stanley upped their target price on Boeing from $245.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, April 23rd. TD Cowen reiterated a “buy” rating on shares of Boeing in a research report on Wednesday, January 28th. Weiss Ratings downgraded Boeing from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, April 24th. Royal Bank Of Canada boosted their price objective on Boeing from $265.00 to $275.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. Finally, UBS Group boosted their price objective on Boeing from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and a consensus price target of $259.80.

Boeing Stock Performance

Shares of NYSE BA opened at $219.25 on Wednesday. The company has a current ratio of 1.18, a quick ratio of 0.35 and a debt-to-equity ratio of 7.42. The stock has a 50 day simple moving average of $217.81 and a 200-day simple moving average of $219.01. The company has a market cap of $172.83 billion, a PE ratio of 106.43 and a beta of 1.21. The Boeing Company has a 12-month low of $176.77 and a 12-month high of $254.35.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.48. The business had revenue of $22.22 billion for the quarter, compared to analyst estimates of $22.15 billion. The business’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.49) earnings per share. On average, equities research analysts forecast that The Boeing Company will post -0.15 EPS for the current year.

Insider Buying and Selling

In other news, Director Mortimer J. Buckley bought 2,230 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was purchased at an average cost of $224.20 per share, for a total transaction of $499,966.00. Following the completion of the transaction, the director directly owned 4,430 shares of the company’s stock, valued at approximately $993,206. This trade represents a 101.36% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bradley D. Tilden bought 1,370 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of $218.50 per share, with a total value of $299,345.00. Following the completion of the transaction, the director directly owned 1,370 shares of the company’s stock, valued at $299,345. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.10% of the company’s stock.

Boeing News Summary

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: National Airlines took delivery of its second Boeing 777 Freighter, underscoring continued demand for Boeing cargo aircraft and supporting Boeing’s order/backlog narrative. National Airlines Continues Strategic Fleet Expansion with Delivery of Second Boeing 777F
• Positive Sentiment: Boeing Saudi Arabia and GACA launched an advanced air mobility feasibility study with SkyGrid and KAUST, which could help Boeing build future opportunities in emerging aviation markets. Boeing Saudi Arabia and GACA launch AAM Airspace and Operational Feasibility Analysis with support from SkyGrid, and KAUST
• Positive Sentiment: A Boeing director disclosed insider buying of about $299,345, a signal investors often view as a vote of confidence in the company’s outlook. Insider Buying: Boeing (NYSE:BA) Director Buys $299,345.00 in Stock
• Neutral Sentiment: Analyst commentary comparing Boeing with Lockheed Martin and long-term think pieces on Boeing’s decade-ahead prospects were broadly valuation-focused and are unlikely to move the stock on their own. BA vs. LMT: Which Aerospace-Defense Giant Offers Better Value Today?
• Negative Sentiment: SpaceX won additional NASA crew mission work while Boeing lost out, reinforcing concerns that Boeing is falling behind in key space-related programs. SpaceX Wins Where Boeing Loses: NASA Hands Musk-Led Company More Crew Missions
• Negative Sentiment: Reports that China only bought 200 Boeing planes were seen as disappointing, suggesting softer-than-hoped demand from a major market. The Disappointing Boeing Deal: Why China Only Bought 200 Planes

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.