Principle Wealth Partners LLC Makes New Investment in The Boeing Company $BA

Principle Wealth Partners LLC bought a new position in shares of The Boeing Company (NYSE:BA) during the second quarter, Holdings Channel.com reports. The firm bought 19,594 shares of the aircraft producer’s stock, valued at approximately $4,242,000.

Other hedge funds have also modified their holdings of the company. Capital Financial Group Inc. Co. ADV bought a new position in Boeing in the 2nd quarter valued at $316,000. Focused Wealth Management Inc acquired a new stake in shares of Boeing in the 2nd quarter valued at $910,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Boeing during the second quarter worth $441,997,000. OneDigital Investment Advisors LLC bought a new stake in shares of Boeing during the second quarter worth $14,993,000. Finally, Plato Investment Management Ltd acquired a new position in shares of Boeing during the second quarter valued at $34,000. 64.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on BA shares. JPMorgan Chase & Co. raised their price target on Boeing from $270.00 to $290.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Tigress Financial boosted their price objective on Boeing from $295.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. The Goldman Sachs Group downgraded shares of Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Btg Pactual set a $260.00 target price on shares of Boeing in a research note on Tuesday, July 14th. Finally, Sanford C. Bernstein assumed coverage on shares of Boeing in a research report on Tuesday, August 11th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $272.58.

Boeing Stock Down 2.2%

NYSE:BA opened at $226.48 on Tuesday. The Boeing Company has a 12-month low of $176.77 and a 12-month high of $254.35. The company has a quick ratio of 0.33, a current ratio of 1.14 and a debt-to-equity ratio of 6.77. The firm has a market capitalization of $179.00 billion, a P/E ratio of 98.04 and a beta of 1.21. The stock’s fifty day simple moving average is $221.91 and its 200-day simple moving average is $222.66.

Boeing (NYSE:BA) last released its quarterly earnings data on Tuesday, July 28th. The aircraft producer reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.42). Boeing had a net margin of 2.41% and a negative return on equity of 346.82%. The company had revenue of $24.56 billion during the quarter, compared to the consensus estimate of $24.26 billion. During the same quarter in the prior year, the company posted ($1.24) EPS. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. Equities research analysts expect that The Boeing Company will post -0.87 earnings per share for the current year.

Insider Transactions at Boeing

In related news, Director Bradley D. Tilden bought 1,370 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 1,370 shares of the company’s stock, valued at $299,345. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.10% of the company’s stock.

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.