Junto Capital Management LP Sells 117,240 Shares of The Boeing Company $BA

Junto Capital Management LP lowered its stake in The Boeing Company (NYSE:BA) by 37.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 199,292 shares of the aircraft producer’s stock after selling 117,240 shares during the period. Junto Capital Management LP’s holdings in Boeing were worth $43,141,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BA. California State Teachers Retirement System boosted its holdings in shares of Boeing by 20,689.6% in the 2nd quarter. California State Teachers Retirement System now owns 245,894,334 shares of the aircraft producer’s stock worth $53,228,746,000 after purchasing an additional 244,711,560 shares during the period. Jupiter Topco LLC purchased a new stake in Boeing during the 2nd quarter valued at $911,878,000. Bank of New York Mellon Corp purchased a new stake in Boeing during the 2nd quarter valued at $747,763,000. Legal & General Group Plc bought a new stake in Boeing in the second quarter worth $710,816,000. Finally, Deutsche Bank AG purchased a new position in Boeing during the second quarter worth $539,456,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing News Summary

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing’s free cash flow has turned positive, an important milestone in its turnaround. Investors will be watching whether stronger cash generation can be sustained through higher aircraft deliveries, improved production efficiency, and reduced working-capital needs. Boeing’s free cash flow turned positive
• Positive Sentiment: Commentary from Jim Cramer points to a potential manufacturing recovery benefiting aerospace companies, including Boeing. That outlook could support BA if production and delivery momentum improve. Jim Cramer discusses manufacturing recovery
• Neutral Sentiment: Archer Aviation’s reported acquisition of Boeing-related businesses Wisk Aero, Insitu, and SkyGrid could help Boeing monetize noncore assets and sharpen its strategic focus, although it may also reduce exposure to potentially valuable future-mobility businesses. Archer Aviation acquisition of Boeing businesses
• Negative Sentiment: Boeing delivered 51 aircraft in August, down from 57 a year earlier, while 787 Dreamliner handovers declined. The softer widebody performance is significant because accelerating deliveries are central to Boeing’s cash-flow recovery and efforts to reduce its substantial debt burden. Boeing August deliveries dip as 787 handovers fall
• Negative Sentiment: A fatal Miami cargo-plane crash involving a 1994-built Boeing 767 operated by 21 Air has increased attention on Boeing aircraft and freighter safety. The investigation is ongoing, and no cause has been established, but additional scrutiny could create reputational or regulatory risk. Boeing 767 Miami runway accident

Boeing Stock Down 2.0%

Shares of BA opened at $206.62 on Thursday. The firm has a market capitalization of $163.30 billion, a P/E ratio of 89.44 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 firm has a fifty day moving average price of $219.23 and a 200-day moving average price of $219.46.

Boeing (NYSE:BA) last posted its quarterly earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.42). Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.The company had revenue of $24.56 billion during the quarter, compared to analysts’ expectations of $24.26 billion. During the same period in the prior year, the business earned ($1.24) EPS. The company’s quarterly revenue was up 8.0% on a year-over-year basis. Equities research analysts expect that The Boeing Company will post -0.87 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Argus raised shares of Boeing from a “hold” rating to a “buy” rating and set a $265.00 target price on the stock in a research note on Tuesday, August 11th. Sanford C. Bernstein initiated coverage on shares of Boeing in a research note on Tuesday, August 11th. They set an “outperform” rating for the company. The Goldman Sachs Group downgraded shares of Boeing from a “buy” rating to a “hold” rating in a report on Tuesday, August 11th. Wolfe Research downgraded shares of Boeing from an “outperform” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, William Blair restated an “outperform” rating on shares of Boeing in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $272.58.

Boeing Profile

The Boeing Company is a global aerospace company that designs, manufactures and services commercial airplanes, military aircraft, satellites, space systems and other aerospace products. Its principal business areas include commercial airplanes, defense and security, and aftermarket services that support aircraft operations throughout their life cycles.

Boeing’s commercial portfolio includes the 737, 767, 777 and 787 families of jetliners, while its defense and space operations provide products and services for the U.S.