OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in The Boeing Company (NYSE:BA – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 51,535 shares of the aircraft producer’s stock, valued at approximately $11,189,000. Boeing accounts for about 1.3% of OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s portfolio, making the stock its 18th largest position.
Other institutional investors and hedge funds have also made changes to their positions in the company. Measured Wealth Private Client Group LLC purchased a new stake in shares of Boeing in the 3rd quarter valued at approximately $25,000. Ares Financial Consulting LLC purchased a new stake in shares of Boeing in the 4th quarter valued at approximately $26,000. 1 North Wealth Services LLC purchased a new stake in shares of Boeing in the 4th quarter valued at approximately $27,000. Strategic Wealth Advisors LLC purchased a new stake in shares of Boeing in the 4th quarter valued at approximately $27,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Boeing in the 4th quarter valued at approximately $28,000. 64.82% of the stock is owned by hedge funds and other institutional investors.
Key Headlines Impacting Boeing
Here are the key news stories impacting Boeing this week:
- Positive Sentiment: Boeing reported a surge in May deliveries, suggesting its production and handoff pace is improving. The Boeing Company Reports Surge in Deliveries in May
- Positive Sentiment: Shares also benefited from a broad rally in aerospace and airline stocks after oil prices fell sharply on easing Middle East tensions. Stock Market Today: Dow Jumps 600 Points On U.S.-Iran Deal; Chip Companies, Boeing Take Off (Live Coverage)
- Positive Sentiment: Boeing announced a $2.35 billion Wichita campus expansion and highlighted defense-program progress, which may support longer-term capacity and backlog execution. Boeing Updates Capacity And Defense Progress As Shares Trade Below Targets
- Neutral Sentiment: Analysts and market commentary continue to note technical momentum and favorable price-target comparisons, but these are secondary to delivery and production updates. Boeing Stock (BA) Opinions on Production Ramp and FAA Approvals
- Negative Sentiment: Boeing confirmed eight fatalities in the Edwards Air Force Base B-52 crash, a headline that could weigh on sentiment around its defense business and safety reputation. Boeing confirms eight fatalities in Edwards Air Force Base B-52 crash
Insider Activity
Boeing Trading Up 4.6%
Shares of Boeing stock opened at $229.22 on Tuesday. The company has a fifty day simple moving average of $223.20 and a 200-day simple moving average of $222.01. The Boeing Company has a 12-month low of $176.77 and a 12-month high of $254.35. 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 market cap of $180.70 billion, a price-to-earnings ratio of 111.27 and a beta of 1.20.
Boeing (NYSE:BA – Get Free Report) last issued its earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.48. The company had revenue of $22.22 billion during the quarter, compared to analyst estimates of $22.15 billion. During the same quarter in the previous year, the company posted ($0.49) EPS. The company’s quarterly revenue was up 14.0% on a year-over-year basis. On average, equities analysts forecast that The Boeing Company will post -0.15 EPS for the current fiscal year.
Analyst Ratings Changes
A number of research analysts recently weighed in on BA shares. Wolfe Research restated an “outperform” rating and issued a $275.00 price objective on shares of Boeing in a report on Thursday, April 23rd. Wells Fargo & Company started coverage on shares of Boeing in a report on Wednesday, April 1st. They issued an “overweight” rating and a $250.00 price objective for the company. Jefferies Financial Group restated a “buy” rating on shares of Boeing in a report on Wednesday, March 4th. Weiss Ratings cut shares of Boeing from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, April 24th. Finally, Morgan Stanley lifted their price objective on shares of Boeing from $245.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and a consensus price target of $262.32.
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.
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