The Boeing Company $BA Shares Acquired by SteelPeak Wealth LLC

SteelPeak Wealth LLC grew its stake in The Boeing Company (NYSE:BA) by 38.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 28,205 shares of the aircraft producer’s stock after buying an additional 7,796 shares during the period. SteelPeak Wealth LLC’s holdings in Boeing were worth $5,614,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Revolve Wealth Partners LLC acquired a new position in shares of Boeing in the 4th quarter valued at $201,000. Sivia Capital Partners LLC lifted its position in Boeing by 16.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,529 shares of the aircraft producer’s stock worth $320,000 after acquiring an additional 217 shares during the period. AXA S.A. lifted its position in Boeing by 1,225.7% during the 2nd quarter. AXA S.A. now owns 34,655 shares of the aircraft producer’s stock worth $7,261,000 after acquiring an additional 32,041 shares during the period. Ieq Capital LLC grew its stake in Boeing by 243.8% during the 2nd quarter. Ieq Capital LLC now owns 33,485 shares of the aircraft producer’s stock valued at $7,016,000 after purchasing an additional 23,746 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in Boeing by 4.2% during the 2nd quarter. Alliancebernstein L.P. now owns 1,334,451 shares of the aircraft producer’s stock valued at $279,608,000 after purchasing an additional 53,736 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing is nearing regulatory approval for a fix to the 737 MAX anti-ice system, which could clear the way for long-delayed 737 MAX 7 and MAX 10 deliveries and improve the outlook for near-term production. Reuters: Boeing nears approval of 737 MAX anti-ice fix, paving way for deliveries
• Positive Sentiment: The company reported strong June deliveries of 64 jets, bringing first-half deliveries to 314 aircraft, its best first-half performance since 2018 and a positive sign for cash flow and execution heading into earnings. Article: Boeing Delivered 64 Jets in June. Here’s What That Means for Its July 28 Earnings.
• Positive Sentiment: Reuters also reported Boeing is near a key certification milestone for the 737 MAX 7 and MAX 10, while progress on the 737 MAX anti-icing certification and 777X program adds to investor optimism about production ramps and future deliveries. Seeking Alpha: Boeing nears key certification milestone for 737 Max 7 and Max 10
• Neutral Sentiment: Boeing is showcasing its commercial, defense, and services portfolio at major industry events, which helps visibility but is not likely to move the stock on its own. PR Newswire: Boeing highlights portfolio at aviation’s largest celebration
• Negative Sentiment: A Reuters report that the U.S. will lead the probe into a Ryanair Boeing 737 incident over Greece keeps safety and oversight issues in the headlines, which can weigh on sentiment even though it does not directly change Boeing’s fundamentals. Reuters: US to take lead in probe into Ryanair Boeing 737 engine failure over Greece

Insiders Place Their Bets

In related news, Director Bradley D. Tilden purchased 1,370 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average cost of $218.50 per share, with a total value of $299,345.00. Following the purchase, the director owned 1,370 shares of the company’s stock, valued at $299,345. This represents a ? increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

BA has been the subject of several research analyst reports. Tigress Financial raised their price objective on Boeing from $290.00 to $295.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Citigroup upped their target price on Boeing from $256.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Morgan Stanley increased their price target on shares of Boeing from $245.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, April 23rd. Weiss Ratings lowered shares of Boeing from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, April 24th. Finally, Wolfe Research restated an “outperform” rating and set a $275.00 price objective on shares of Boeing in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $261.53.

Boeing Trading Down 1.8%

Shares of BA stock opened at $214.24 on Friday. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.18 and a quick ratio of 0.35. The company has a market cap of $168.88 billion, a price-to-earnings ratio of 104.00 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 stock has a 50 day simple moving average of $222.30 and a 200-day simple moving average of $224.82.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.48. The company had revenue of $22.22 billion during the quarter, compared to analyst estimates of $22.15 billion. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.49) EPS. On average, equities research analysts expect that The Boeing Company will post -0.22 EPS for the current fiscal year.

Boeing 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.