Zweig DiMenna Associates LLC Invests $3.43 Million in The Boeing Company $BA

Zweig DiMenna Associates LLC purchased a new position in The Boeing Company (NYSE:BA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 15,900 shares of the aircraft producer’s stock, valued at approximately $3,432,000.

Other hedge funds have also modified their holdings of the company. Davis Capital Management acquired a new position in Boeing in the third quarter valued at approximately $33,000. Howard Hughes Medical Institute acquired a new position in shares of Boeing during the 2nd quarter worth about $34,000. Centerpoint Advisors LLC grew its holdings in shares of Boeing by 62.4% during the third quarter. Centerpoint Advisors LLC now owns 164 shares of the aircraft producer’s stock worth $35,000 after purchasing an additional 63 shares during the last quarter. Decker Retirement Planning Inc. acquired a new stake in Boeing during the 2nd quarter worth $35,000. Finally, IMG Wealth Management Inc. increased its stake in Boeing by 159.4% in the 2nd quarter. IMG Wealth Management Inc. now owns 179 shares of the aircraft producer’s stock valued at $38,000 after buying an additional 110 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Boeing news, EVP Uma M. Amuluru sold 2,731 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $236.00, for a total transaction of $644,516.00. Following the completion of the sale, the executive vice president owned 11,925 shares in the company, valued at approximately $2,814,300. The trade was a 18.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Howard E. Mckenzie sold 10,497 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $233.99, for a total transaction of $2,456,193.03. Following the completion of the sale, the executive vice president owned 14,692 shares of the company’s stock, valued at approximately $3,437,781.08. This represents a 41.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.09% of the company’s stock.

Boeing Trading Up 1.5%

Shares of BA stock opened at $242.96 on Tuesday. The firm’s fifty day simple moving average is $229.65 and its 200 day simple moving average is $219.45. The company has a current ratio of 1.19, a quick ratio of 0.40 and a debt-to-equity ratio of 8.37. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $254.35. The firm has a market capitalization of $190.80 billion, a P/E ratio of 120.87 and a beta of 1.15.

Boeing (NYSE:BA) last announced its quarterly earnings results on Tuesday, January 27th. The aircraft producer reported $9.92 EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $10.32. The business had revenue of $23.95 billion for the quarter, compared to the consensus estimate of $22.41 billion. The firm’s revenue for the quarter was up 57.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($5.90) EPS. As a group, sell-side analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Wall Street Analysts Forecast Growth

BA has been the topic of a number of research reports. Argus upgraded Boeing to a “hold” rating in a report on Monday, February 2nd. Royal Bank Of Canada increased their price target on Boeing from $265.00 to $275.00 and gave the company an “outperform” rating in a report on Wednesday, January 28th. Deutsche Bank Aktiengesellschaft lowered Boeing from a “buy” rating to a “hold” rating and set a $240.00 target price on the stock. in a research report on Thursday, October 30th. Zacks Research raised shares of Boeing from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. Finally, Loop Capital set a $223.00 target price on Boeing in a research note on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $246.14.

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.