Glenview Trust Co Grows Stake in The Boeing Company $BA

Glenview Trust Co boosted its stake in shares of The Boeing Company (NYSE:BA) by 5.2% during the 1st quarter, HoldingsChannel reports. The fund owned 243,403 shares of the aircraft producer’s stock after purchasing an additional 12,089 shares during the period. Glenview Trust Co’s holdings in Boeing were worth $48,444,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Princeton Capital Management LLC increased its holdings in Boeing by 78.3% during the fourth quarter. Princeton Capital Management LLC now owns 12,249 shares of the aircraft producer’s stock valued at $2,660,000 after buying an additional 5,381 shares during the period. Rakuten Investment Management Inc. raised its position in shares of Boeing by 502.3% in the 4th quarter. Rakuten Investment Management Inc. now owns 103,099 shares of the aircraft producer’s stock worth $22,398,000 after acquiring an additional 85,982 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Boeing in the 1st quarter worth $7,961,000. Vaughan Nelson Investment Management L.P. bought a new stake in Boeing during the fourth quarter valued at about $55,787,000. Finally, Patriot Financial Group Insurance Agency LLC boosted its position in Boeing by 103.8% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 11,240 shares of the aircraft producer’s stock valued at $2,237,000 after purchasing an additional 5,726 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing News Roundup

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing secured large new aircraft commitments, including up to 20 787 Dreamliners from Philippine Airlines, 100 737 MAX jets from SMBC Aviation Capital, and 28 more 787s from Riyadh Air, signaling strong demand for its commercial planes. Article Title
• Positive Sentiment: Reports also said FAA certification for the 737 MAX 7 and MAX 10 is nearing completion, which could unlock additional deliveries and improve Boeing’s production outlook. Article Title
• Positive Sentiment: Boeing also won an appeal that decertified a shareholder class action tied to 737 MAX safety issues, reducing a legal overhang. Article Title
• Neutral Sentiment: CEO Kelly Ortberg said Boeing will delay any new commercial jet program for a couple more years while it repairs finances and focuses on existing aircraft production and reliability. Article Title
• Neutral Sentiment: Air Force One remains on track for 2028 delivery, but the program will require more spending and remains a costly, long-running project. Article Title
• Negative Sentiment: Management’s caution about balancing cash flow, debt reduction, and production improvements before launching a next-generation jet suggests Boeing is still under financial pressure. Article Title

Analyst Upgrades and Downgrades

Several research firms have commented on BA. Tigress Financial increased their price target on shares of Boeing from $290.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Btg Pactual set a $260.00 price objective on shares of Boeing in a research report on Tuesday, July 14th. Wells Fargo & Company initiated coverage on shares of Boeing in a research report on Wednesday, April 1st. They set an “overweight” rating and a $250.00 target price for the company. Morgan Stanley raised their target price on shares of Boeing from $245.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, April 23rd. Finally, Citigroup lifted their price target on shares of Boeing from $256.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and a consensus target price of $261.53.

Insider Buying and Selling

In other news, Director Bradley D. Tilden purchased 1,370 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were acquired at an average price of $218.50 per share, for a total transaction of $299,345.00. Following the purchase, the director owned 1,370 shares in the company, valued at $299,345. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.10% of the company’s stock.

Boeing Trading Down 2.1%

NYSE:BA opened at $209.49 on Tuesday. The Boeing Company has a 12 month low of $176.77 and a 12 month high of $254.35. The firm has a fifty day simple moving average of $221.26 and a 200-day simple moving average of $224.73. The company has a current ratio of 1.18, a quick ratio of 0.35 and a debt-to-equity ratio of 7.42. The company has a market capitalization of $165.14 billion, a P/E ratio of 101.70 and a beta of 1.21.

Boeing (NYSE:BA) last announced its quarterly earnings data 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 company had revenue of $22.22 billion for the quarter, compared to analysts’ expectations of $22.15 billion. During the same period last year, the firm earned ($0.49) earnings per share. Boeing’s quarterly revenue was up 14.0% compared to the same quarter last year. On average, equities research analysts anticipate that The Boeing Company will post -0.27 earnings per share for the current 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.