Perigon Wealth Management LLC Invests $2.27 Million in The Boeing Company $BA

Perigon Wealth Management LLC acquired a new stake in shares of The Boeing Company (NYSE:BA) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 10,477 shares of the aircraft producer’s stock, valued at approximately $2,268,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Purus Wealth Management LLC increased its holdings in shares of Boeing by 3.6% during the fourth quarter. Purus Wealth Management LLC now owns 1,177 shares of the aircraft producer’s stock valued at $256,000 after acquiring an additional 41 shares in the last quarter. XML Financial LLC grew its holdings in shares of Boeing by 0.5% during the fourth quarter. XML Financial LLC now owns 8,905 shares of the aircraft producer’s stock valued at $1,933,000 after buying an additional 43 shares during the last quarter. North Star Investment Management Corp. lifted its position in Boeing by 1.6% during the 4th quarter. North Star Investment Management Corp. now owns 2,833 shares of the aircraft producer’s stock worth $615,000 after acquiring an additional 44 shares during the period. Strait & Sound Wealth Management LLC increased its holdings in shares of Boeing by 1.1% in the fourth quarter. Strait & Sound Wealth Management LLC now owns 3,915 shares of the aircraft producer’s stock valued at $850,000 after purchasing an additional 44 shares during the period. Finally, B.O.S.S. Retirement Advisors LLC raised its stake in shares of Boeing by 1.4% in the first quarter. B.O.S.S. Retirement Advisors LLC now owns 3,175 shares of the aircraft producer’s stock worth $632,000 after purchasing an additional 44 shares during the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Stock Performance

BA opened at $226.48 on Tuesday. The Boeing Company has a twelve month low of $176.77 and a twelve month high of $254.35. The firm has a market capitalization of $179.00 billion, a PE ratio of 98.04 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 firm’s 50-day moving average price is $221.91 and its 200 day moving average price is $222.66.

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

Analysts Set New Price Targets

BA has been the topic of several recent research reports. Argus raised shares of Boeing from a “hold” rating to a “buy” rating and set a $265.00 price objective on the stock in a report on Tuesday, August 11th. Barclays downgraded Boeing from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, August 11th. Weiss Ratings reissued a “sell (d+)” rating on shares of Boeing in a report on Tuesday, July 21st. William Blair reiterated an “outperform” rating on shares of Boeing in a research report on Tuesday, July 28th. Finally, Btg Pactual set a $260.00 price target on Boeing in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $272.58.

Insider Activity

In related news, Director Bradley D. Tilden bought 1,370 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average cost of $218.50 per share, with a total value of $299,345.00. Following the purchase, the director directly owned 1,370 shares of the company’s stock, valued at $299,345. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.10% of the stock is owned by company insiders.

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.