Korea Investment CORP Buys New Position in The Boeing Company $BA

Korea Investment CORP bought a new stake in The Boeing Company (NYSE:BA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 412,428 shares of the aircraft producer’s stock, valued at approximately $89,278,000. Korea Investment CORP owned approximately 0.05% of Boeing as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Boeing by 5.1% in 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 last quarter. Bank of New York Mellon Corp acquired a new position in Boeing during the second quarter worth $747,763,000. Deutsche Bank AG bought a new position in Boeing in the second quarter valued at $539,456,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Boeing in the second quarter valued at $441,997,000. Finally, Alyeska Investment Group L.P. increased its stake in Boeing by 245.7% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,252,450 shares of the aircraft producer’s stock valued at $489,052,000 after buying an additional 1,600,909 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BA shares. 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. William Blair reaffirmed an “outperform” rating on shares of Boeing in a research report on Tuesday, July 28th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Boeing in a report on Tuesday, July 21st. Sanford C. Bernstein started coverage on Boeing in a research report on Tuesday, August 11th. They set an “outperform” rating for the company. Finally, JPMorgan Chase & Co. raised their price target on Boeing from $270.00 to $290.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $272.58.

Boeing Price Performance

NYSE:BA opened at $214.20 on Friday. The Boeing Company has a 12-month low of $176.77 and a 12-month high of $254.35. The firm has a market capitalization of $169.30 billion, a price-to-earnings ratio of 92.73 and a beta of 1.21. The stock’s 50 day moving average price is $222.11 and its two-hundred day moving average price is $222.26. The company has a quick ratio of 0.33, a current ratio of 1.14 and a debt-to-equity ratio of 6.77.

Boeing (NYSE:BA) last issued its earnings results 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 negative return on equity of 346.82% and a net margin of 2.41%.The business had revenue of $24.56 billion for the quarter, compared to the consensus estimate of $24.26 billion. During the same quarter in the prior year, the firm posted ($1.24) earnings per share. The business’s revenue was up 8.0% compared to the same quarter last year. On average, analysts anticipate that The Boeing Company will post -0.87 earnings per share for the current year.

Trending Headlines about 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

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.