Westmount Partners LLC Purchases 4,077 Shares of The Boeing Company $BA

Westmount Partners LLC boosted its position in The Boeing Company (NYSE:BA) by 149.2% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 6,810 shares of the aircraft producer’s stock after purchasing an additional 4,077 shares during the period. Westmount Partners LLC’s holdings in Boeing were worth $1,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Boeing by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 70,989,438 shares of the aircraft producer’s stock worth $15,413,227,000 after acquiring an additional 3,460,021 shares during the period. Alyeska Investment Group L.P. increased its holdings in Boeing by 245.7% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,252,450 shares of the aircraft producer’s stock worth $489,052,000 after acquiring an additional 1,600,909 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Boeing by 43.1% in the 4th quarter. Janus Henderson Group PLC now owns 3,907,876 shares of the aircraft producer’s stock worth $840,204,000 after acquiring an additional 1,176,074 shares during the last quarter. Viking Global Investors LP raised its stake in Boeing by 31.3% in the 4th quarter. Viking Global Investors LP now owns 3,953,087 shares of the aircraft producer’s stock valued at $858,294,000 after acquiring an additional 942,536 shares during the period. Finally, Deutsche Bank AG raised its stake in Boeing by 47.5% in the 4th quarter. Deutsche Bank AG now owns 2,376,243 shares of the aircraft producer’s stock valued at $515,930,000 after acquiring an additional 765,197 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BA. Citigroup increased their target price on shares of Boeing from $256.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Weiss Ratings lowered shares of Boeing from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, April 24th. Wells Fargo & Company initiated coverage on shares of Boeing in a research note on Wednesday, April 1st. They set an “overweight” rating and a $250.00 price target on the stock. Wolfe Research reaffirmed an “outperform” rating and issued a $275.00 price objective on shares of Boeing in a report on Thursday, April 23rd. Finally, Jefferies Financial Group reiterated 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 assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.32.

Boeing Stock Up 0.4%

Shares of NYSE BA opened at $223.51 on Friday. The Boeing Company has a 52 week low of $176.77 and a 52 week high of $254.35. The business has a 50-day simple moving average of $224.23 and a two-hundred day simple moving average of $222.81. The company has a quick ratio of 0.35, a current ratio of 1.18 and a debt-to-equity ratio of 7.42. The company has a market cap of $176.19 billion, a P/E ratio of 108.50 and a beta of 1.19.

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

Insider Buying and Selling

In other Boeing news, Director Bradley D. Tilden bought 1,370 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average price of $218.50 per share, for a total transaction of $299,345.00. Following the transaction, the director directly owned 1,370 shares in the company, valued at $299,345. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is currently owned by 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.