6,597 Shares in The Boeing Company $BA Purchased by Evolve Private Wealth LLC

Evolve Private Wealth LLC purchased a new stake in shares of The Boeing Company (NYSE:BA) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 6,597 shares of the aircraft producer’s stock, valued at approximately $1,428,000.

Several other institutional investors have also added to or reduced their stakes in the company. Princeton Capital Management LLC raised its position 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 purchasing an additional 5,381 shares during the period. Rakuten Investment Management Inc. lifted its stake 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 valued at $22,398,000 after purchasing an additional 85,982 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of Boeing in the 1st quarter worth approximately $7,961,000. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Boeing by 103.8% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 11,240 shares of the aircraft producer’s stock worth $2,237,000 after purchasing an additional 5,726 shares during the period. Finally, Deutsche Bank AG increased its position in shares of Boeing by 47.5% during the 4th quarter. Deutsche Bank AG now owns 2,376,243 shares of the aircraft producer’s stock valued at $515,930,000 after purchasing an additional 765,197 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BA shares. William Blair restated an “outperform” rating on shares of Boeing in a report on Tuesday, July 28th. UBS Group started coverage on shares of Boeing in a research note on Tuesday, August 11th. They set a “buy” rating for the company. Robert W. Baird set a $300.00 price objective on shares of Boeing in a research report on Wednesday, July 29th. Sanford C. Bernstein assumed coverage on shares of Boeing in a research note on Tuesday, August 11th. They issued an “outperform” rating on the stock. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Boeing in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Boeing presently has an average rating of “Moderate Buy” and a consensus price target of $272.58.

Boeing Trading Down 0.4%

BA opened at $214.20 on Friday. 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 stock’s 50 day moving average price is $222.11 and its 200-day moving average price is $222.26. The Boeing Company has a one year low of $176.77 and a one year high of $254.35. The stock has a market cap of $169.30 billion, a price-to-earnings ratio of 92.73 and a beta of 1.21.

Boeing (NYSE:BA) last issued its quarterly earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share (EPS) 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 business had revenue of $24.56 billion for the quarter, compared to the consensus estimate of $24.26 billion. During the same period in the prior year, the business posted ($1.24) earnings per share. Boeing’s revenue was up 8.0% on a year-over-year basis. On average, equities analysts forecast that The Boeing Company will post -0.87 EPS for the current year.

Key Stories Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: The U.S. State Department approved a potential $4.5 billion sale of KC-46A tanker aircraft to Qatar. The approval supports Boeing’s defense backlog, although the transaction still requires finalization. US approves potential $4.5B sale of Boeing KC-46A tankers to Qatar
• Positive Sentiment: Boeing’s agreement to sell or transfer businesses including Wisk Aero, Insitu and SkyGrid to Archer Aviation, while taking a strategic stake in Archer, could generate cash and provide exposure to autonomous and electric aviation markets. However, the deal’s financial impact and execution remain uncertain. Archer Aviation bets big on becoming more than an air taxi company
• Neutral Sentiment: AerCap delivered its tenth Boeing 787 to Grupo Aeromexico, marking its 100th 787 delivery from its direct order book. The milestone signals continuing customer demand for the Dreamliner but is not a new Boeing order or immediate revenue catalyst. AerCap Holdings compared with Boeing
• Negative Sentiment: Voting ends on Boeing’s proposed four-year contract with the Society of Professional Engineering Employees in Aerospace, representing roughly 17,000 engineers and technical workers. A rejection could authorize a strike after the current contracts expire on October 6, raising concerns about production, certification and delivery schedules. Results were expected Friday afternoon. Boeing white-collar union contract vote results expected today
• Negative Sentiment: The labor uncertainty is outweighing recent operating progress, including higher commercial deliveries and efforts to increase 737 production. Investors appear concerned that a work stoppage could interrupt Boeing’s recovery. Boeing slides as labor vote uncertainty outweighs operational progress
• Negative Sentiment: Boeing is advancing repairs to Air Force One, but window replacement and interior work could threaten the program’s schedule, adding another execution risk to the company’s defense business. Boeing advances Air Force One repairs

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.