Washburn Capital Management Inc. Invests $696,000 in The Boeing Company $BA

Washburn Capital Management Inc. acquired a new stake in The Boeing Company (NYSE:BAFree Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,225 shares of the aircraft producer’s stock, valued at approximately $696,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BA. Vanguard Group Inc. grew its position in shares of Boeing by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 66,773,360 shares of the aircraft producer’s stock worth $13,991,022,000 after acquiring an additional 1,118,316 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Boeing by 2.7% in the second quarter. Geode Capital Management LLC now owns 16,316,838 shares of the aircraft producer’s stock worth $3,402,073,000 after purchasing an additional 432,026 shares during the period. Fisher Asset Management LLC increased its stake in Boeing by 3.8% during the second quarter. Fisher Asset Management LLC now owns 5,327,443 shares of the aircraft producer’s stock valued at $1,116,259,000 after purchasing an additional 196,666 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Boeing by 1.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 4,242,397 shares of the aircraft producer’s stock worth $888,910,000 after purchasing an additional 44,338 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Boeing by 6.3% during the second quarter. Legal & General Group Plc now owns 3,145,620 shares of the aircraft producer’s stock worth $659,102,000 after purchasing an additional 187,545 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of BA stock opened at $247.71 on Friday. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $248.75. The firm has a market capitalization of $188.28 billion, a PE ratio of -18.11, a price-to-earnings-growth ratio of 7.06 and a beta of 1.16. The stock has a fifty day moving average of $208.57 and a two-hundred day moving average of $217.11.

Boeing (NYSE:BAGet Free Report) last issued its quarterly earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The firm had revenue of $23.27 billion during the quarter, compared to the consensus estimate of $21.61 billion. The business’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same quarter last year, the business earned ($10.44) earnings per share. Equities research analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BA shares. UBS Group reaffirmed a “buy” rating on shares of Boeing in a report on Wednesday, December 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Boeing in a report on Wednesday, October 8th. Zacks Research upgraded Boeing from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 2nd. JPMorgan Chase & Co. boosted their price objective on Boeing from $240.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Finally, Loop Capital set a $223.00 price objective on Boeing in a research note on Monday, November 3rd. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $237.46.

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Boeing News Summary

Here are the key news stories impacting Boeing this week:

Insider Transactions at Boeing

In related news, SVP Dana S. Deasy purchased 554 shares of Boeing stock in a transaction dated Monday, November 24th. The stock was bought at an average cost of $178.88 per share, with a total value of $99,099.52. Following the purchase, the senior vice president owned 28,442 shares in the company, valued at approximately $5,087,704.96. The trade was a 1.99% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Uma M. Amuluru sold 1,366 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $197.66, for a total transaction of $270,003.56. Following the completion of the transaction, the executive vice president owned 14,656 shares of the company’s stock, valued at $2,896,904.96. This trade represents a 8.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.09% of the stock is currently owned by insiders.

Boeing Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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