Kovitz Investment Group Partners LLC Reduces Position in The Boeing Company $BA

Kovitz Investment Group Partners LLC lowered its position in The Boeing Company (NYSE:BA) by 62.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,699 shares of the aircraft producer’s stock after selling 19,178 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Boeing were worth $2,540,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of BA. Vanguard Group Inc. increased its holdings in shares of Boeing by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 70,989,438 shares of the aircraft producer’s stock valued at $15,413,227,000 after acquiring an additional 3,460,021 shares during the period. Newport Trust Company LLC boosted its stake in Boeing by 1.0% during the 4th quarter. Newport Trust Company LLC now owns 29,485,294 shares of the aircraft producer’s stock worth $6,401,847,000 after purchasing an additional 286,848 shares during the period. Geode Capital Management LLC boosted its stake in Boeing by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 17,025,435 shares of the aircraft producer’s stock worth $3,679,592,000 after purchasing an additional 533,753 shares during the period. Fisher Asset Management LLC grew its position in Boeing by 2.5% during the 4th quarter. Fisher Asset Management LLC now owns 5,640,900 shares of the aircraft producer’s stock worth $1,224,752,000 after purchasing an additional 135,860 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Boeing by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,370,415 shares of the aircraft producer’s stock worth $948,905,000 after purchasing an additional 138,469 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Boeing

In related news, Director Bradley D. Tilden purchased 1,370 shares of the stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average cost of $218.50 per share, with a total value of $299,345.00. Following the purchase, the director directly owned 1,370 shares in the company, valued at $299,345. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.10% of the stock is currently owned by company insiders.

Boeing Stock Up 0.4%

BA opened at $223.51 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 Boeing Company has a 12 month low of $176.77 and a 12 month high of $254.35. The stock has a market capitalization of $176.19 billion, a P/E ratio of 108.50 and a beta of 1.19. The business has a 50 day simple moving average of $224.23 and a 200-day simple moving average of $222.81.

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, topping 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. The company’s revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.49) EPS. On average, equities analysts anticipate that The Boeing Company will post -0.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BA has been the subject of a number of research reports. Citigroup upped their target price on shares of Boeing from $256.00 to $260.00 and gave the company a “buy” rating in a report on Monday, May 18th. Jefferies Financial Group reissued a “buy” rating on shares of Boeing in a report on Wednesday, March 4th. Wolfe Research reaffirmed an “outperform” rating and set a $275.00 price objective on shares of Boeing in a research note on Thursday, April 23rd. Tigress Financial upped their price objective on Boeing from $290.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Morgan Stanley increased their price objective on Boeing from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have given a Hold rating and two 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 an average target price of $262.32.

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.