Castleark Management LLC Has $10.59 Million Stock Position in The Boeing Company $BA

Castleark Management LLC increased its holdings in shares of The Boeing Company (NYSE:BA) by 1,334.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,770 shares of the aircraft producer’s stock after purchasing an additional 45,370 shares during the period. Castleark Management LLC’s holdings in Boeing were worth $10,589,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Boeing by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 70,989,438 shares of the aircraft producer’s stock valued at $15,413,227,000 after acquiring an additional 3,460,021 shares during the period. Newport Trust Company LLC grew its stake in Boeing by 1.0% in the fourth quarter. Newport Trust Company LLC now owns 29,485,294 shares of the aircraft producer’s stock valued at $6,401,847,000 after acquiring an additional 286,848 shares during the period. Geode Capital Management LLC grew its stake in Boeing by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 17,025,435 shares of the aircraft producer’s stock valued at $3,679,592,000 after acquiring an additional 533,753 shares during the period. Fisher Asset Management LLC grew its stake in Boeing by 2.5% in the fourth quarter. Fisher Asset Management LLC now owns 5,640,900 shares of the aircraft producer’s stock valued at $1,224,752,000 after acquiring an additional 135,860 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Boeing by 2.5% in the fourth quarter. Bank of New York Mellon Corp now owns 3,613,462 shares of the aircraft producer’s stock valued at $784,555,000 after acquiring an additional 89,106 shares during the period. Institutional investors own 64.82% of the company’s stock.

Insider Activity

In related news, Director Bradley D. Tilden acquired 1,370 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average cost of $218.50 per share, for a total transaction of $299,345.00. Following the purchase, the director owned 1,370 shares in the company, valued at $299,345. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.10% of the company’s stock.

Boeing News Roundup

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing’s commercial delivery surge is helping drive free cash flow and supporting a recovery in the company’s balance sheet. Boeing’s Unseen Rebound: Why the Headlines Are Wrong
• Positive Sentiment: Boeing’s Global Services business posted higher quarterly revenue, a record $33 billion backlog, and new contract wins, suggesting a growing recurring-growth engine. Can Boeing’s Global Services Business Become a Bigger Growth Driver?
• Positive Sentiment: Boeing announced a $2.35 billion investment in its Wichita campus along with other operational updates, which investors may view as a commitment to capacity and long-term execution. Boeing (BA) Stock Trades Up, Here Is Why
• Neutral Sentiment: DP Aircraft I secured up to $92 million in long-term financing for Boeing 787s ahead of LOT leases, which is supportive for 787-related demand but is a smaller indirect catalyst for Boeing stock. DP Aircraft I locks in US$92m long-term financing for Boeing 787s ahead of LOT leases
• Negative Sentiment: Boeing was recently pressured by a broader pullback, with the stock previously dipping more than the market as investors remained sensitive to execution and valuation concerns. Why Boeing (BA) Dipped More Than Broader Market Today

Boeing Stock Performance

Shares of BA opened at $219.23 on Friday. The firm has a market cap of $172.82 billion, a PE ratio of 106.42 and a beta of 1.19. The stock’s fifty day moving average price is $222.78 and its two-hundred day moving average price is $221.38. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.18 and a quick ratio of 0.35. The Boeing Company has a 1 year low of $176.77 and a 1 year high of $254.35.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.48. The company had revenue of $22.22 billion for the quarter, compared to the consensus estimate of $22.15 billion. During the same quarter in the previous year, the firm posted ($0.49) earnings per share. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. On average, equities research analysts forecast that The Boeing Company will post -0.15 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have commented on BA. Tigress Financial raised their price objective on Boeing from $290.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Wolfe Research reaffirmed an “outperform” rating and set a $275.00 target price on shares of Boeing in a research report on Thursday, April 23rd. Citigroup lifted their target price on Boeing from $256.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Boeing in a research report on Wednesday, March 4th. Finally, Weiss Ratings lowered Boeing from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $262.32.

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.