The Boeing Company $BA Stake Lowered by Magnetar Financial LLC

Magnetar Financial LLC reduced its stake in shares of The Boeing Company (NYSE:BA) by 63.0% during the 4th quarter, HoldingsChannel reports. The fund owned 37,049 shares of the aircraft producer’s stock after selling 62,953 shares during the period. Magnetar Financial LLC’s holdings in Boeing were worth $8,044,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Howe & Rusling Inc. grew its holdings in shares of Boeing by 9.8% during the 4th quarter. Howe & Rusling Inc. now owns 1,975 shares of the aircraft producer’s stock valued at $429,000 after acquiring an additional 177 shares in the last quarter. Waterway Wealth Management LLC purchased a new position in shares of Boeing during the 4th quarter valued at $285,000. Rakuten Investment Management Inc. grew its holdings in shares of Boeing by 502.3% during the 4th quarter. Rakuten Investment Management Inc. now owns 103,099 shares of the aircraft producer’s stock valued at $22,398,000 after acquiring an additional 85,982 shares in the last quarter. 71 West Capital Partners purchased a new position in shares of Boeing during the 4th quarter valued at $372,000. Finally, Capital Financial Group Inc. Co. ADV bought a new stake in Boeing in the fourth quarter worth $309,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BA has been the subject of a number of recent research reports. Wells Fargo & Company initiated 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. Morgan Stanley upped their price objective on shares of Boeing from $245.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, April 23rd. Wolfe Research reiterated an “outperform” rating and issued a $275.00 price objective on shares of Boeing in a report on Thursday, April 23rd. Tigress Financial upped their price objective on shares of Boeing from $290.00 to $295.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Boeing in a report on Wednesday, March 4th. Two equities research 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $262.32.

Boeing Trading Down 0.6%

Shares of NYSE:BA opened at $227.50 on Wednesday. The stock has a market capitalization of $179.34 billion, a PE ratio of 110.44 and a beta of 1.20. The Boeing Company has a 1 year low of $176.77 and a 1 year high of $254.35. The firm has a fifty day moving average price of $223.58 and a 200 day moving average price of $222.30. The company has a current ratio of 1.18, a quick ratio of 0.35 and a debt-to-equity ratio of 7.42.

Boeing (NYSE:BA) last released its earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.48. The firm had revenue of $22.22 billion for the quarter, compared to analyst estimates of $22.15 billion. The firm’s revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.49) EPS. Analysts expect that The Boeing Company will post -0.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, 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 transaction, the director directly owned 1,370 shares in the company, valued at approximately $299,345. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.10% of the stock is currently owned by corporate insiders.

Key Stories Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing reported a surge in May deliveries, which suggests improving production and execution as it works through supply-chain and manufacturing issues. The Boeing Company Reports Surge in Deliveries in May
• Positive Sentiment: The company also announced a $2.35 billion investment to expand its Wichita campus, while the U.S. Air Force backed Boeing’s updated KC-46A tanker vision system, signaling confidence in its defense business. Boeing Updates Capacity And Defense Progress As Shares Trade Below Targets
• Positive Sentiment: Boeing shares were also helped by a broader rally after a U.S.-Iran peace deal eased geopolitical तनाव and pushed oil prices lower, which can support airline and aerospace sentiment. Boeing (BA) Stock Is Up, What You Need To Know
• Neutral Sentiment: The company is out of the U.S. Navy trainer competition, which removes a potential contract opportunity, but the decision may also reduce execution risk on a contested program. Boeing Out of United States Navy Trainer Program, Boeing Stock (NYSE:BA) Jumps
• Negative Sentiment: Boeing is facing scrutiny after a B-52 crash that killed eight people, including two Boeing employees; the investigation could take months and may keep pressure on the stock. Boeing Faces Scrutiny After B-52 Crash
• Negative Sentiment: Confirmation of the fatalities in the Edwards Air Force Base crash adds reputational and oversight risk for Boeing’s defense segment. Boeing confirms eight fatalities in Edwards Air Force Base B-52 crash

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.