Summit Global Investments Purchases New Position in The Boeing Company $BA

Summit Global Investments purchased a new stake in shares of The Boeing Company (NYSE:BA) in the second quarter, Holdings Channel.com reports. The firm purchased 3,048 shares of the aircraft producer’s stock, valued at approximately $660,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Measured Wealth Private Client Group LLC purchased a new position in shares of Boeing during the third quarter valued at approximately $25,000. Strive Financial Group LLC purchased a new stake in Boeing in the 4th quarter valued at $25,000. CrossGen Wealth LLC purchased a new stake in Boeing in the 4th quarter valued at $26,000. Ares Financial Consulting LLC bought a new position in Boeing during the 4th quarter valued at $26,000. Finally, 1 North Wealth Services LLC bought a new position in Boeing during the 4th quarter valued at $27,000. 64.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Bradley D. Tilden purchased 1,370 shares of Boeing stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average price of $218.50 per share, for a total transaction of $299,345.00. Following the completion of the transaction, the director owned 1,370 shares in the company, valued at $299,345. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.10% of the company’s stock.

Key Stories Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: The Pentagon signed framework agreements with Boeing and RTX to increase production of components for SM-3 Block IIA and Block IB interceptor missiles. The seven-year arrangements could provide greater visibility for Boeing’s defense business and support incremental revenue, helping drive the stock higher. Pentagon signs deals with Boeing and RTX
• Positive Sentiment: Boeing is selling Wisk Aero, Insitu and SkyGrid to Archer Aviation in an all-stock transaction that gives Boeing an approximately 20% stake in Archer. Analysts view the deal as a way to exit a struggling, non-core air-taxi operation while retaining exposure to autonomy and electric-aircraft technologies, potentially sharpening Boeing’s turnaround focus. Boeing’s Wisk sale and portfolio strategy
• Positive Sentiment: Avolon agreed to lease up to seven Boeing 737-8200 aircraft to India’s Akasa Air. The transaction supports continued demand for Boeing’s narrow-body aircraft in one of the aviation industry’s fastest-growing markets. Avolon and Akasa Air 737 transaction
• Neutral Sentiment: Odysight.ai received a Boeing purchase order and will demonstrate AI-powered predictive-maintenance technology at two Boeing sites. The initiative could improve future maintenance capabilities and create supplier opportunities, but its immediate financial impact on BA is expected to be limited. Odysight.ai Boeing purchase order
• Neutral Sentiment: JLL is considering Boeing’s former Chicago headquarters for a potential global headquarters move. The move could benefit Boeing through property monetization or reduced real-estate obligations, though no transaction has been finalized. JLL considers Boeing’s former headquarters

Analysts Set New Price Targets

Several analysts have recently issued reports on BA shares. Citigroup lowered shares of Boeing from a “buy” rating to a “sell” rating in a research note on Tuesday. Argus raised shares of Boeing from a “hold” rating to a “buy” rating and set a $265.00 price target on the stock in a research report on Tuesday, August 11th. Morgan Stanley boosted their price target on shares of Boeing from $245.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, April 23rd. Tigress Financial upped their price objective on shares of Boeing from $295.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, UBS Group initiated coverage on shares of Boeing in a research report on Tuesday. They issued a “buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $272.58.

Boeing Stock Up 0.5%

BA stock opened at $231.50 on Friday. The stock has a market cap of $182.97 billion, a P/E ratio of 100.21 and a beta of 1.21. 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 stock’s fifty day simple moving average is $221.70 and its two-hundred day simple moving average is $222.97. The Boeing Company has a 1-year low of $176.77 and a 1-year high of $254.35.

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

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.