Patten & Patten Inc. TN Increases Position in The Boeing Company $BA

Patten & Patten Inc. TN lifted its position in The Boeing Company (NYSE:BA) by 7.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 35,100 shares of the aircraft producer’s stock after purchasing an additional 2,572 shares during the quarter. Patten & Patten Inc. TN’s holdings in Boeing were worth $7,621,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BA. Vanguard Group Inc. increased its stake 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 worth $15,413,227,000 after purchasing an additional 3,460,021 shares in the last quarter. Newport Trust Company LLC increased its stake in shares of Boeing by 2.5% in the third quarter. Newport Trust Company LLC now owns 29,198,446 shares of the aircraft producer’s stock worth $6,301,901,000 after purchasing an additional 707,490 shares in the last quarter. Great Lakes Advisors LLC increased its stake in shares of Boeing by 25,532.3% in the third quarter. Great Lakes Advisors LLC now owns 424,983 shares of the aircraft producer’s stock worth $91,725,000 after purchasing an additional 423,325 shares in the last quarter. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Boeing in the fourth quarter worth $89,368,000. Finally, Bessemer Group Inc. boosted its stake in Boeing by 50.3% in the 3rd quarter. Bessemer Group Inc. now owns 1,069,819 shares of the aircraft producer’s stock worth $230,900,000 after purchasing an additional 357,995 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BA has been the subject of several recent analyst reports. Argus upgraded Boeing to a “hold” rating in a research note on Monday, February 2nd. Tigress Financial upped their price target on Boeing from $290.00 to $295.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Wolfe Research restated an “outperform” rating and issued a $275.00 price target on shares of Boeing in a research note on Thursday, April 23rd. JPMorgan Chase & Co. upped their price target on Boeing from $245.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Finally, Vertical Research restated a “buy” rating and issued a $281.00 price target on shares of Boeing in a research note on Tuesday, January 27th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $259.60.

Key Headlines Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: CEO Kelly Ortberg is reportedly set to accompany President Trump on a China visit, which could improve Boeing’s chances of landing major aircraft orders. Boeing CEO Kelly Ortberg set to join Trump on China visit next week
• Positive Sentiment: Reports that Trump invited Boeing’s CEO to Beijing and that Boeing’s China order hopes are reviving have fueled optimism about future demand. Boeing’s China Order Hopes Revive As Trump Invites CEO To Beijing Visit: Report
• Positive Sentiment: Boeing continues to benefit from fresh commercial wins and program momentum, including recent aircraft orders and training-related deals with airline customers. Should Boeing’s Integrated Jet Orders and Training Deals Prompt Action From Boeing (BA) Investors?
• Positive Sentiment: Ukraine’s approval to pursue up to $374 million in Boeing JDAM bomb kits adds a modest defense-related tailwind. Ukraine Gets Approval For Up To $374 Million Boeing Bomb Kit Purchase
• Neutral Sentiment: Boeing was mentioned in broader trade and China-visit coverage, but those headlines mainly reinforce the same theme of possible diplomacy-driven order opportunities. White House scales back CEO group for China trip
• Neutral Sentiment: DP Aircraft I’s refinancing of a Boeing 787 fleet is a positive sign for the aircraft’s financing environment, but it is not a direct earnings driver for Boeing. DP Aircraft I Secures Long-Term Refinancing for Boeing 787 Fleet
• Neutral Sentiment: News that Boeing pulled out of the Invictus Games is unlikely to materially affect the company’s financial outlook. Boeing Stock (NYSE:BA) Gains After Pulling Out of Invictus Games

Insider Transactions at Boeing

In other news, SVP Ann M. Schmidt sold 6,281 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $243.37, for a total transaction of $1,528,606.97. Following the sale, the senior vice president directly owned 13,978 shares of the company’s stock, valued at $3,401,825.86. This represents a 31.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mortimer J. Buckley acquired 2,230 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were purchased at an average cost of $224.20 per share, for a total transaction of $499,966.00. Following the completion of the acquisition, the director directly owned 4,430 shares in the company, valued at approximately $993,206. This represents a 101.36% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.10% of the company’s stock.

Boeing Stock Up 2.9%

Shares of BA opened at $237.65 on Friday. The stock has a market capitalization of $187.34 billion, a price-to-earnings ratio of 115.36 and a beta of 1.21. The Boeing Company has a 1 year low of $176.77 and a 1 year high of $254.35. The business’s 50 day simple moving average is $216.90 and its 200-day simple moving average is $217.70. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.18 and a quick ratio of 0.35.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.48. The firm had revenue of $22.22 billion for the quarter, compared to analysts’ expectations of $22.15 billion. The firm’s revenue was up 14.0% on a year-over-year basis. During the same period last year, the company earned ($0.49) earnings per share. As a group, equities analysts expect that The Boeing Company will post -0.15 earnings per share for the current fiscal year.

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.