Geode Capital Management LLC Buys 533,753 Shares of The Boeing Company $BA

Geode Capital Management LLC increased its stake in shares of The Boeing Company (NYSE:BA) by 3.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,025,435 shares of the aircraft producer’s stock after buying an additional 533,753 shares during the quarter. Geode Capital Management LLC’s holdings in Boeing were worth $3,679,592,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Measured Wealth Private Client Group LLC bought a new position in shares of Boeing during the 3rd quarter worth approximately $25,000. Ares Financial Consulting LLC bought a new position in shares of Boeing during the 4th quarter worth approximately $26,000. Strategic Wealth Advisors LLC bought a new position in shares of Boeing during the 4th quarter worth approximately $27,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Boeing during the 4th quarter worth approximately $28,000. Finally, American National Bank & Trust lifted its position in shares of Boeing by 124.2% during the 4th quarter. American National Bank & Trust now owns 139 shares of the aircraft producer’s stock worth $30,000 after buying an additional 77 shares during the period. Institutional investors own 64.82% of the company’s stock.

Key Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing CEO Kelly Ortberg said the company completed an FAA capstone review, allowing 737 MAX production to increase from 42 jets a month to 47. Investors view this as a key step toward normalizing output and improving cash flow. Article Title
• Positive Sentiment: The FAA also said it expects Boeing’s 737 MAX 7 to be certified this summer and the MAX 10 before year-end, which could further support future production and deliveries. Article Title
• Positive Sentiment: Ortberg also said Boeing aims to eventually balance 737 inventory at 52 aircraft per month, signaling confidence that the narrowbody business can keep ramping beyond the newly approved rate. Article Title
• Positive Sentiment: Reports that China recently committed to purchase 200 Boeing aircraft add another demand tailwind, helping improve the outlook for commercial orders. Article Title
• Neutral Sentiment: Boeing’s presentation at the Bernstein Strategic Decisions Conference kept the stock in focus, but the main market-moving information was the production and certification progress rather than the transcript itself. Article Title
• Negative Sentiment: Recent headlines about Boeing losing some NASA and Italy-related business and competition-related losses to SpaceX are a reminder that the company still faces competitive and contract risk, even as near-term sentiment improves. Article Title

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BA shares. Sanford C. Bernstein restated an “outperform” rating on shares of Boeing in a research report on Wednesday, January 28th. Wells Fargo & Company started coverage on Boeing in a report on Wednesday, April 1st. They set an “overweight” rating and a $250.00 price target for the company. Citigroup raised their price target on Boeing from $256.00 to $260.00 and gave the company a “buy” rating in a report on Monday, May 18th. TD Cowen reaffirmed a “buy” rating on shares of Boeing in a report on Wednesday, January 28th. Finally, Argus raised Boeing to a “hold” rating in a report on Monday, February 2nd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $259.80.

Insider Buying and Selling at Boeing

In other news, Director Mortimer J. Buckley bought 2,230 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was bought at an average cost of $224.20 per share, with a total value of $499,966.00. Following the purchase, the director owned 4,430 shares of the company’s stock, valued at approximately $993,206. This represents a 101.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bradley D. Tilden bought 1,370 shares of the stock in a transaction dated Wednesday, May 20th. The stock was purchased at an average cost of $218.50 per share, with a total value of $299,345.00. Following the completion of the purchase, the director directly owned 1,370 shares in the company, valued at approximately $299,345. This trade represents a ? increase in their position. The SEC filing for this purchase provides additional information. 0.10% of the stock is currently owned by company insiders.

Boeing Trading Up 2.5%

BA stock opened at $224.36 on Thursday. The business has a fifty day moving average price of $218.03 and a 200 day moving average price of $219.21. The Boeing Company has a fifty-two week low of $176.77 and a fifty-two week high of $254.35. The stock has a market capitalization of $176.86 billion, a price-to-earnings ratio of 108.91 and a beta of 1.21. 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 released its quarterly earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.48. The business had revenue of $22.22 billion for the quarter, compared to analyst estimates of $22.15 billion. During the same period in the prior year, the business earned ($0.49) earnings per share. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. Analysts expect that The Boeing Company will post -0.15 EPS 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.