NewEdge Wealth LLC Takes $1.39 Million Position in The Boeing Company $BA

NewEdge Wealth LLC acquired a new position in shares of The Boeing Company (NYSE:BA) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 6,423 shares of the aircraft producer’s stock, valued at approximately $1,390,000.

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

Key Stories Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: The U.S. State Department approved a potential $4.5 billion sale of KC-46A tanker aircraft to Qatar. The approval supports Boeing’s defense backlog, although the transaction still requires finalization. US approves potential $4.5B sale of Boeing KC-46A tankers to Qatar
• Positive Sentiment: Boeing’s agreement to sell or transfer businesses including Wisk Aero, Insitu and SkyGrid to Archer Aviation, while taking a strategic stake in Archer, could generate cash and provide exposure to autonomous and electric aviation markets. However, the deal’s financial impact and execution remain uncertain. Archer Aviation bets big on becoming more than an air taxi company
• Neutral Sentiment: AerCap delivered its tenth Boeing 787 to Grupo Aeromexico, marking its 100th 787 delivery from its direct order book. The milestone signals continuing customer demand for the Dreamliner but is not a new Boeing order or immediate revenue catalyst. AerCap Holdings compared with Boeing
• Negative Sentiment: Voting ends on Boeing’s proposed four-year contract with the Society of Professional Engineering Employees in Aerospace, representing roughly 17,000 engineers and technical workers. A rejection could authorize a strike after the current contracts expire on October 6, raising concerns about production, certification and delivery schedules. Results were expected Friday afternoon. Boeing white-collar union contract vote results expected today
• Negative Sentiment: The labor uncertainty is outweighing recent operating progress, including higher commercial deliveries and efforts to increase 737 production. Investors appear concerned that a work stoppage could interrupt Boeing’s recovery. Boeing slides as labor vote uncertainty outweighs operational progress
• Negative Sentiment: Boeing is advancing repairs to Air Force One, but window replacement and interior work could threaten the program’s schedule, adding another execution risk to the company’s defense business. Boeing advances Air Force One repairs

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BA. Cantor Fitzgerald lowered Boeing to a “neutral” rating in a report on Tuesday, August 11th. UBS Group began coverage on Boeing in a research note on Tuesday, August 11th. They issued a “buy” rating on the stock. Argus upgraded 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. JPMorgan Chase & Co. lifted their price objective on Boeing from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Finally, Barclays downgraded shares of Boeing from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $272.58.

Boeing Stock Down 0.4%

Shares of NYSE:BA opened at $214.20 on Friday. The stock has a 50 day moving average price of $222.11 and a 200-day moving average price of $222.26. The company has a debt-to-equity ratio of 6.77, a quick ratio of 0.33 and a current ratio of 1.14. The firm has a market capitalization of $169.30 billion, a P/E ratio of 92.73 and a beta of 1.21. The Boeing Company has a 52-week low of $176.77 and a 52-week high of $254.35.

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

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.