Sumitomo Mitsui Trust Group Inc. Purchases 29,882 Shares of The Boeing Company $BA

Sumitomo Mitsui Trust Group Inc. increased its position in shares of The Boeing Company (NYSE:BA) by 1.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,040,313 shares of the aircraft producer’s stock after buying an additional 29,882 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Boeing were worth $406,083,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BA. Purus Wealth Management LLC boosted its position in Boeing by 3.6% during the 4th quarter. Purus Wealth Management LLC now owns 1,177 shares of the aircraft producer’s stock worth $256,000 after acquiring an additional 41 shares during the last quarter. West Wealth Group LLC grew its stake in shares of Boeing by 0.6% during the 4th quarter. West Wealth Group LLC now owns 7,279 shares of the aircraft producer’s stock worth $1,581,000 after acquiring an additional 42 shares in the last quarter. First Heartland Consultants Inc. grew its stake in shares of Boeing by 1.1% during the 4th quarter. First Heartland Consultants Inc. now owns 4,062 shares of the aircraft producer’s stock worth $882,000 after acquiring an additional 43 shares in the last quarter. XML Financial LLC raised its holdings in shares of Boeing by 0.5% in the fourth quarter. XML Financial LLC now owns 8,905 shares of the aircraft producer’s stock valued at $1,933,000 after purchasing an additional 43 shares during the last quarter. Finally, Global Financial Private Client LLC raised its holdings in shares of Boeing by 1.1% in the fourth quarter. Global Financial Private Client LLC now owns 4,025 shares of the aircraft producer’s stock valued at $874,000 after purchasing an additional 44 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Trending Headlines about Boeing

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wolfe Research reaffirmed an “outperform” rating and issued a $275.00 target price on shares of Boeing in a research report on Thursday, April 23rd. Tigress Financial boosted their price target on shares of Boeing from $290.00 to $295.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Morgan Stanley increased their price objective on shares of Boeing from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 23rd. Citigroup lifted their target price on Boeing from $256.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Finally, Wells Fargo & Company initiated coverage on Boeing in a report on Wednesday, April 1st. They set an “overweight” rating and a $250.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.61.

Boeing Price Performance

Shares of BA opened at $224.67 on Thursday. The company has a market cap of $177.11 billion, a price-to-earnings ratio of 109.06 and a beta of 1.21. The Boeing Company has a 1-year low of $176.77 and a 1-year high of $254.35. The company’s fifty day simple moving average is $223.46 and its 200 day simple moving average is $224.74. The company has a current ratio of 1.18, a quick ratio of 0.35 and a debt-to-equity ratio of 7.42.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.48. The firm had revenue of $22.22 billion for the quarter, compared to the consensus estimate of $22.15 billion. The business’s revenue was up 14.0% compared to the same quarter last year. During the same period last year, the company posted ($0.49) earnings per share. On average, research analysts forecast that The Boeing Company will post -0.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Boeing

In other news, Director Bradley D. Tilden acquired 1,370 shares of the stock in a transaction dated 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 directly owned 1,370 shares of the company’s stock, valued at approximately $299,345. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.10% of the stock is owned by corporate insiders.

Boeing Company 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.