NewEdge Advisors LLC Trims Stock Position in The Boeing Company $BA

NewEdge Advisors LLC lessened its stake in The Boeing Company (NYSE:BA) by 10.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 294,971 shares of the aircraft producer’s stock after selling 34,847 shares during the period. NewEdge Advisors LLC’s holdings in Boeing were worth $587,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Measured Wealth Private Client Group LLC purchased a new position in Boeing during the third quarter valued at approximately $25,000. Strive Financial Group LLC purchased a new stake in Boeing in the 4th quarter worth approximately $25,000. Ares Financial Consulting LLC acquired a new stake in shares of Boeing during the 4th quarter worth approximately $26,000. CrossGen Wealth LLC acquired a new stake in shares of Boeing during the 4th quarter worth approximately $26,000. Finally, Strategic Wealth Advisors LLC purchased a new position in shares of Boeing during the 4th quarter valued at approximately $27,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Boeing

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

Key Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: The Federal Aviation Administration certified Boeing’s 737-7, the smallest 737 MAX variant, for commercial service after nearly a decade of technical reviews, delays and safety assessments. The amended type certificate and updated production approval clear the way for Boeing to begin first deliveries, reducing a significant regulatory overhang. Federal Aviation Administration certifies Boeing 737 MAX 7
• Positive Sentiment: BNP Paribas upgraded Boeing directly from Sell to Buy, citing fading certification risks and the potential for a substantial recovery in cash flow as aircraft production and deliveries improve. The rare double upgrade added to bullish sentiment around the turnaround. Boeing Stock Gets Rare Double Upgrade
• Positive Sentiment: Boeing delivered Somon Air’s first 737 MAX, providing another indication that MAX deliveries are expanding. The Tajikistan carrier plans to use the 737-8 to modernize its fleet and grow its network. Somon Air Receives Its First Boeing 737 MAX Jet
• Neutral Sentiment: Although the 737-7 is now certified, airlines may need several months to incorporate the aircraft into flight schedules, so the approval is likely to support Boeing’s medium-term outlook more than immediate revenue. FAA clears smallest Boeing 737 Max to fly after years of delays
• Neutral Sentiment: The certification follows years of delays linked to two fatal MAX crashes and quality-control problems. Investors still must monitor Boeing’s ability to maintain safety standards, execute production increases and convert approvals into consistent cash generation. Boeing Wins Certification for Long-Delayed 737 Max 7 Jet

Boeing Price Performance

Shares of NYSE BA opened at $233.34 on Tuesday. The firm has a market cap of $184.43 billion, a PE ratio of 101.02 and a beta of 1.21. The firm has a fifty day moving average of $219.43 and a 200 day moving average of $223.73. The company has a debt-to-equity ratio of 6.77, a quick ratio of 0.33 and a current ratio of 1.14. The Boeing Company has a one year low of $176.77 and a one year high of $254.35.

Boeing (NYSE:BA) last posted its quarterly earnings data on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.42). Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.The company had revenue of $24.56 billion for the quarter, compared to analyst estimates of $24.26 billion. During the same quarter in the prior year, the company posted ($1.24) earnings per share. The business’s revenue was up 8.0% on a year-over-year basis. As a group, research analysts predict that The Boeing Company will post -0.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BA has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Boeing from $270.00 to $290.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. BNP Paribas Exane upgraded shares of Boeing from an “underperform” rating to an “outperform” rating and raised their price target for the company from $230.00 to $300.00 in a research report on Monday. Citigroup lifted their price objective on shares of Boeing from $256.00 to $260.00 and gave the company a “buy” rating in a report on Monday, May 18th. UBS Group reissued a “buy” rating on shares of Boeing in a research note on Wednesday, July 29th. Finally, Btg Pactual set a $260.00 price target on Boeing in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and an average target price of $272.44.

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.