First Interstate Bank lifted its stake in The Boeing Company (NYSE:BA – Free Report) by 549.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,337 shares of the aircraft producer’s stock after buying an additional 5,361 shares during the period. First Interstate Bank’s holdings in Boeing were worth $1,261,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Seelaus Asset Management LLC lifted its position in Boeing by 46.0% in the first quarter. Seelaus Asset Management LLC now owns 5,029 shares of the aircraft producer’s stock valued at $1,001,000 after acquiring an additional 1,585 shares during the last quarter. IAG Wealth Partners LLC grew its holdings in shares of Boeing by 12,332.1% during the first quarter. IAG Wealth Partners LLC now owns 3,481 shares of the aircraft producer’s stock worth $693,000 after purchasing an additional 3,453 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Boeing by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 89,955 shares of the aircraft producer’s stock worth $17,904,000 after purchasing an additional 300 shares during the last quarter. Staley Capital Advisers Inc. increased its position in shares of Boeing by 6.3% during the first quarter. Staley Capital Advisers Inc. now owns 335,366 shares of the aircraft producer’s stock worth $66,748,000 after purchasing an additional 19,848 shares in the last quarter. Finally, Frank Rimerman Advisors LLC increased its position in shares of Boeing by 5.5% during the first quarter. Frank Rimerman Advisors LLC now owns 5,966 shares of the aircraft producer’s stock worth $1,187,000 after purchasing an additional 311 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.
Boeing Price Performance
Shares of NYSE:BA opened at $224.67 on Thursday. The Boeing Company has a one year low of $176.77 and a one year high of $254.35. The stock has a market capitalization of $177.11 billion, a price-to-earnings ratio of 109.06 and a beta of 1.21. The company has a 50-day simple moving average of $223.46 and a 200-day simple moving average of $224.74. The company has a debt-to-equity ratio of 7.42, a quick ratio of 0.35 and a current ratio of 1.18.
Boeing News Summary
Here are the key news stories impacting Boeing this week:
- Positive Sentiment: Boeing’s production recovery is still intact, with 737 output stabilized and plans to ramp higher, while certification progress on the 737-7/737-10 and 777-9 supports the longer-term turnaround story. Boeing (BA) Could Be 13% Undervalued As 737 MAX Output Ramps Up
- Positive Sentiment: Denmark said it will buy two Boeing P-8A Poseidon maritime patrol aircraft, reinforcing demand for Boeing’s defense business. Denmark to buy two maritime patrol aircraft from Boeing, defence ministry says
- Positive Sentiment: Philippine Airlines is reportedly considering a widebody order that could include about 10 Boeing 787s, which would support backlog and long-term deliveries. Philippine Airlines Eyes 20 Widebody Jets Split Between Boeing and Airbus
- Neutral Sentiment: Investor attention remains elevated around Boeing, but one Zacks item was mainly a sentiment/visibility note rather than a fundamental catalyst. Investors Heavily Search The Boeing Company (BA): Here is What You Need to Know
- Negative Sentiment: Two recent 737 MAX incidents on Southwest flights have put Boeing back in the spotlight and may renew concerns about product reliability and future inspections or delays. Boeing Co. (NYSE: BA)
- Negative Sentiment: Boeing also faces execution risk from wiring rework, 787 delays, and Spirit AeroSystems integration costs, which could pressure cash flow if problems persist. The Boeing Company Stock
Insiders Place Their Bets
In related news, Director Bradley D. Tilden bought 1,370 shares of the stock in a transaction on Wednesday, May 20th. The shares were bought at an average cost of $218.50 per share, for a total transaction of $299,345.00. Following the purchase, the director owned 1,370 shares of the company’s stock, valued at $299,345. This trade represents a ? increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.10% of the company’s stock.
Wall Street Analysts Forecast Growth
BA has been the subject of a number of research analyst reports. Weiss Ratings cut Boeing from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, April 24th. Wolfe Research reaffirmed an “outperform” rating and set a $275.00 price target on shares of Boeing in a research report on Thursday, April 23rd. Tigress Financial boosted their price objective on Boeing from $290.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Citigroup boosted their price objective on Boeing from $256.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Finally, Morgan Stanley increased their price objective on Boeing from $245.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $261.61.
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.
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