19,594 Shares in The Boeing Company $BA Purchased by Principle Wealth Partners LLC

Principle Wealth Partners LLC purchased a new stake in shares of The Boeing Company (NYSE:BA) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 19,594 shares of the aircraft producer’s stock, valued at approximately $4,242,000.

A number of other hedge funds also recently modified their holdings of BA. Vanguard Group Inc. increased its position in shares of Boeing by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 70,989,438 shares of the aircraft producer’s stock valued at $15,413,227,000 after purchasing an additional 3,460,021 shares during the period. Bank of New York Mellon Corp bought a new position in Boeing in the second quarter worth $747,763,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Boeing during the second quarter worth $441,997,000. Alyeska Investment Group L.P. boosted its stake in Boeing by 245.7% during the fourth quarter. Alyeska Investment Group L.P. now owns 2,252,450 shares of the aircraft producer’s stock worth $489,052,000 after buying an additional 1,600,909 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Boeing by 43.1% in the 4th quarter. Janus Henderson Group PLC now owns 3,907,876 shares of the aircraft producer’s stock valued at $840,204,000 after buying an additional 1,176,074 shares during the period. Institutional investors own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

BA has been the subject of a number of recent research reports. The Goldman Sachs Group cut shares of Boeing from a “buy” rating to a “hold” rating in a research note on Tuesday, August 11th. UBS Group assumed coverage on shares of Boeing in a research report on Tuesday, August 11th. They set a “buy” rating on the stock. Barclays cut shares of Boeing from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, August 11th. Cantor Fitzgerald lowered shares of Boeing to a “neutral” rating in a research report on Tuesday, August 11th. Finally, Robert W. Baird set a $300.00 price target on shares of Boeing in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and a consensus target price of $272.58.

Boeing Stock Down 2.2%

NYSE BA opened at $226.48 on Tuesday. The firm has a market cap of $179.00 billion, a PE ratio of 98.04 and a beta of 1.21. The Boeing Company has a one year low of $176.77 and a one year high of $254.35. The stock’s 50 day simple moving average is $221.91 and its 200 day simple moving average is $222.66. The company has a debt-to-equity ratio of 6.77, a current ratio of 1.14 and a quick ratio of 0.33.

Boeing (NYSE:BA) last released its quarterly 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). Boeing had a net margin of 2.41% and a negative return on equity of 346.82%. The business had revenue of $24.56 billion for the quarter, compared to analyst estimates of $24.26 billion. During the same period in the prior year, the business earned ($1.24) earnings per share. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, sell-side analysts forecast that The Boeing Company will post -0.87 earnings per share for the current fiscal year.

Insider Activity at Boeing

In other Boeing news, Director Bradley D. Tilden bought 1,370 shares of the stock in a transaction dated Wednesday, May 20th. The stock was bought at an average cost of $218.50 per share, for a total transaction of $299,345.00. Following the completion of the purchase, the director owned 1,370 shares in the company, valued at $299,345. This represents a ? increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.10% of the company’s stock.

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.