Granite Investment Partners LLC Acquires 15,901 Shares of The Boeing Company $BA

Granite Investment Partners LLC boosted its stake in shares of The Boeing Company (NYSE:BA) by 35.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,048 shares of the aircraft producer’s stock after buying an additional 15,901 shares during the period. Granite Investment Partners LLC’s holdings in Boeing were worth $12,150,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Boeing by 1.5% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,040,313 shares of the aircraft producer’s stock worth $406,083,000 after acquiring an additional 29,882 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its position in Boeing by 2.5% during the first quarter. Resona Asset Management Co. Ltd. now owns 238,230 shares of the aircraft producer’s stock valued at $46,982,000 after purchasing an additional 5,794 shares in the last quarter. Capstone Capital Management Ltd boosted its position in Boeing by 10.0% during the first quarter. Capstone Capital Management Ltd now owns 17,336 shares of the aircraft producer’s stock valued at $3,450,000 after purchasing an additional 1,571 shares in the last quarter. CFS Investment Advisory Services LLC grew its stake in Boeing by 3.2% in the first quarter. CFS Investment Advisory Services LLC now owns 2,457 shares of the aircraft producer’s stock valued at $489,000 after purchasing an additional 77 shares during the last quarter. Finally, First Interstate Bank grew its stake in Boeing by 549.3% in the first quarter. First Interstate Bank now owns 6,337 shares of the aircraft producer’s stock valued at $1,261,000 after purchasing an additional 5,361 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Insider Buying and Selling

In related news, Director Bradley D. Tilden bought 1,370 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average cost of $218.50 per share, for a total transaction of $299,345.00. Following the purchase, the director directly owned 1,370 shares of the company’s stock, valued at approximately $299,345. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.10% of the stock is owned by company insiders.

Trending Headlines about Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing’s production recovery is still intact, with 737 output stabilized and plans to ramp higher, while certification progress on the 737-7/737-10 and 777-9 supports the longer-term turnaround story. Boeing (BA) Could Be 13% Undervalued As 737 MAX Output Ramps Up
• Positive Sentiment: Denmark said it will buy two Boeing P-8A Poseidon maritime patrol aircraft, reinforcing demand for Boeing’s defense business. Denmark to buy two maritime patrol aircraft from Boeing, defence ministry says
• Positive Sentiment: Philippine Airlines is reportedly considering a widebody order that could include about 10 Boeing 787s, which would support backlog and long-term deliveries. Philippine Airlines Eyes 20 Widebody Jets Split Between Boeing and Airbus
• Neutral Sentiment: Investor attention remains elevated around Boeing, but one Zacks item was mainly a sentiment/visibility note rather than a fundamental catalyst. Investors Heavily Search The Boeing Company (BA): Here is What You Need to Know
• Negative Sentiment: Two recent 737 MAX incidents on Southwest flights have put Boeing back in the spotlight and may renew concerns about product reliability and future inspections or delays. Boeing Co. (NYSE: BA)
• Negative Sentiment: Boeing also faces execution risk from wiring rework, 787 delays, and Spirit AeroSystems integration costs, which could pressure cash flow if problems persist. The Boeing Company Stock

Boeing Trading Down 3.0%

Boeing stock opened at $224.67 on Thursday. The company has a debt-to-equity ratio of 7.42, a quick ratio of 0.35 and a current ratio of 1.18. The stock has a market cap of $177.11 billion, a PE ratio of 109.06 and a beta of 1.21. The stock has a 50-day moving average of $223.46 and a two-hundred day moving average of $224.74. The Boeing Company has a one year low of $176.77 and a one year high of $254.35.

Boeing (NYSE:BA) last issued its quarterly earnings results 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 analysts’ expectations of $22.15 billion. During the same quarter in the previous year, the firm posted ($0.49) EPS. Boeing’s revenue was up 14.0% on a year-over-year basis. On average, research analysts anticipate that The Boeing Company will post -0.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Boeing in a report on Wednesday, April 1st. They issued an “overweight” rating and a $250.00 price target on the stock. Tigress Financial boosted their price objective on shares of Boeing from $290.00 to $295.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Citigroup increased their target price on shares of Boeing from $256.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Weiss Ratings downgraded shares of Boeing from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, April 24th. Finally, Morgan Stanley lifted 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. 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $261.61.

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.