Glenmede Trust Co. NA Boosts Position in The Boeing Company $BA

Glenmede Trust Co. NA lifted its holdings in shares of The Boeing Company (NYSE:BA) by 5.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,917 shares of the aircraft producer’s stock after acquiring an additional 2,168 shares during the quarter. Glenmede Trust Co. NA’s holdings in Boeing were worth $7,945,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC purchased a new stake in shares of Boeing in the 3rd quarter worth about $25,000. Strive Financial Group LLC purchased a new position in shares of Boeing during the fourth quarter valued at about $25,000. CrossGen Wealth LLC purchased a new position in shares of Boeing during the fourth quarter valued at about $26,000. Ares Financial Consulting LLC bought a new position in Boeing in the fourth quarter worth about $26,000. Finally, 1 North Wealth Services LLC bought a new position in Boeing in the fourth quarter worth about $27,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Key Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: The Federal Aviation Administration certified Boeing’s 737-7, the smallest 737 MAX variant, for commercial service after nearly a decade of technical reviews, delays and safety assessments. The amended type certificate and updated production approval clear the way for Boeing to begin first deliveries, reducing a significant regulatory overhang. Federal Aviation Administration certifies Boeing 737 MAX 7
• Positive Sentiment: BNP Paribas upgraded Boeing directly from Sell to Buy, citing fading certification risks and the potential for a substantial recovery in cash flow as aircraft production and deliveries improve. The rare double upgrade added to bullish sentiment around the turnaround. Boeing Stock Gets Rare Double Upgrade
• Positive Sentiment: Boeing delivered Somon Air’s first 737 MAX, providing another indication that MAX deliveries are expanding. The Tajikistan carrier plans to use the 737-8 to modernize its fleet and grow its network. Somon Air Receives Its First Boeing 737 MAX Jet
• Neutral Sentiment: Although the 737-7 is now certified, airlines may need several months to incorporate the aircraft into flight schedules, so the approval is likely to support Boeing’s medium-term outlook more than immediate revenue. FAA clears smallest Boeing 737 Max to fly after years of delays
• Neutral Sentiment: The certification follows years of delays linked to two fatal MAX crashes and quality-control problems. Investors still must monitor Boeing’s ability to maintain safety standards, execute production increases and convert approvals into consistent cash generation. Boeing Wins Certification for Long-Delayed 737 Max 7 Jet

Insider Activity

In other Boeing news, Director Bradley D. Tilden bought 1,370 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average cost of $218.50 per share, for a total transaction of $299,345.00. Following the completion of the transaction, the director owned 1,370 shares of the company’s stock, valued at $299,345. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.10% of the company’s stock.

Boeing Stock Performance

BA stock opened at $233.34 on Tuesday. The stock has a market capitalization of $184.43 billion, a PE ratio of 101.02 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. The company has a current ratio of 1.14, a quick ratio of 0.33 and a debt-to-equity ratio of 6.77. The stock’s 50 day simple moving average is $219.43 and its 200 day simple moving average is $223.73.

Boeing (NYSE:BA) last issued its earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.42). Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.The business had revenue of $24.56 billion during the quarter, compared to analysts’ expectations of $24.26 billion. During the same period last year, the firm posted ($1.24) EPS. Boeing’s quarterly revenue was up 8.0% compared to the same quarter last year. As a group, research analysts forecast that The Boeing Company will post -0.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on BA shares. Wolfe Research reaffirmed an “outperform” rating and set a $275.00 price objective on shares of Boeing in a research report on Thursday, April 23rd. BNP Paribas Exane raised Boeing from an “underperform” rating to an “outperform” rating and increased their target price for the stock from $230.00 to $300.00 in a research report on Monday. Citigroup raised their target price on Boeing from $256.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Btg Pactual set a $260.00 price target on Boeing in a research report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. upped their price target on Boeing from $270.00 to $290.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $272.44.

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.