Hardy Reed LLC Acquires New Shares in The Boeing Company $BA

Hardy Reed LLC bought a new position in The Boeing Company (NYSE:BA) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 4,187 shares of the aircraft producer’s stock, valued at approximately $904,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Boeing by 1.7% during the second quarter. Vanguard Group Inc. now owns 66,773,360 shares of the aircraft producer’s stock valued at $13,991,022,000 after purchasing an additional 1,118,316 shares during the last quarter. Newport Trust Company LLC boosted its holdings in Boeing by 2.5% in the third quarter. Newport Trust Company LLC now owns 29,198,446 shares of the aircraft producer’s stock worth $6,301,901,000 after purchasing an additional 707,490 shares during the last quarter. Geode Capital Management LLC grew its position in Boeing by 2.7% in the 2nd 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 raised its stake in Boeing by 3.8% during the 2nd quarter. Fisher Asset Management LLC now owns 5,327,443 shares of the aircraft producer’s stock valued at $1,116,259,000 after buying an additional 196,666 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Boeing by 1.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,242,397 shares of the aircraft producer’s stock valued at $888,910,000 after buying an additional 44,338 shares during the period. Institutional investors own 64.82% of the company’s stock.

Boeing Stock Up 1.5%

BA stock opened at $242.96 on Friday. The business’s 50-day moving average price is $228.92 and its 200-day moving average price is $219.35. The stock has a market cap of $190.80 billion, a P/E ratio of 120.87 and a beta of 1.15. The company has a quick ratio of 0.40, a current ratio of 1.19 and a debt-to-equity ratio of 8.37. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $254.35.

Boeing (NYSE:BA) last released its earnings results on Tuesday, January 27th. The aircraft producer reported $9.92 EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $10.32. The firm had revenue of $23.95 billion for the quarter, compared to the consensus estimate of $22.41 billion. During the same quarter in the previous year, the business posted ($5.90) EPS. Boeing’s revenue was up 57.1% on a year-over-year basis. On average, equities research analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Insider Activity

In related news, EVP Howard E. Mckenzie sold 10,497 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $233.99, for a total value of $2,456,193.03. Following the completion of the transaction, the executive vice president owned 14,692 shares of the company’s stock, valued at approximately $3,437,781.08. This represents a 41.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Dana S. Deasy purchased 554 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were acquired at an average cost of $178.88 per share, for a total transaction of $99,099.52. Following the completion of the acquisition, the senior vice president owned 28,442 shares of the company’s stock, valued at approximately $5,087,704.96. This trade represents a 1.99% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on BA. Jefferies Financial Group lifted their price objective on Boeing from $290.00 to $295.00 and gave the stock a “buy” rating in a report on Sunday, February 1st. UBS Group boosted their price target on Boeing from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. JPMorgan Chase & Co. upped their price target on shares of Boeing from $245.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. TD Cowen reiterated a “buy” rating on shares of Boeing in a research note on Wednesday, January 28th. Finally, New Street Research set a $257.00 target price on shares of Boeing in a research report on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $246.14.

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.