Legato Capital Management LLC Makes New Investment in The Boeing Company $BA

Legato Capital Management LLC acquired a new position in shares of The Boeing Company (NYSE:BA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,500 shares of the aircraft producer’s stock, valued at approximately $543,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of BA. Revolve Wealth Partners LLC acquired a new position in shares of Boeing during the fourth quarter worth about $201,000. Sivia Capital Partners LLC lifted its stake in shares of Boeing by 16.5% during the second quarter. Sivia Capital Partners LLC now owns 1,529 shares of the aircraft producer’s stock worth $320,000 after purchasing an additional 217 shares in the last quarter. AXA S.A. lifted its stake in shares of Boeing by 1,225.7% during the second quarter. AXA S.A. now owns 34,655 shares of the aircraft producer’s stock worth $7,261,000 after purchasing an additional 32,041 shares in the last quarter. Ieq Capital LLC lifted its stake in shares of Boeing by 243.8% during the second quarter. Ieq Capital LLC now owns 33,485 shares of the aircraft producer’s stock worth $7,016,000 after purchasing an additional 23,746 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of Boeing by 4.2% during the second quarter. Alliancebernstein L.P. now owns 1,334,451 shares of the aircraft producer’s stock worth $279,608,000 after purchasing an additional 53,736 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Trading Up 0.1%

NYSE:BA opened at $219.25 on Wednesday. The company has a debt-to-equity ratio of 7.42, a quick ratio of 0.35 and a current ratio of 1.18. The Boeing Company has a one year low of $176.77 and a one year high of $254.35. The business’s 50-day simple moving average is $217.81 and its 200 day simple moving average is $219.01. The stock has a market cap of $172.83 billion, a price-to-earnings ratio of 106.43 and a beta of 1.21.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.48. The business had revenue of $22.22 billion during the quarter, compared to analyst estimates of $22.15 billion. During the same quarter last year, the firm posted ($0.49) EPS. The company’s revenue was up 14.0% compared to the same quarter last year. As a group, sell-side analysts predict that The Boeing Company will post -0.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BA. Sanford C. Bernstein restated an “outperform” rating on shares of Boeing in a research note on Wednesday, January 28th. JPMorgan Chase & Co. boosted their price objective on Boeing from $245.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Wells Fargo & Company started coverage on Boeing in a research note on Wednesday, April 1st. They issued an “overweight” rating and a $250.00 price target on the stock. Wolfe Research reiterated an “outperform” rating and issued a $275.00 price target on shares of Boeing in a research note on Thursday, April 23rd. Finally, TD Cowen reiterated a “buy” rating on shares of Boeing in a research note on Wednesday, January 28th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $259.80.

Insider Activity

In other news, Director Mortimer J. Buckley acquired 2,230 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was purchased at an average cost of $224.20 per share, with a total value of $499,966.00. Following the completion of the acquisition, the director directly owned 4,430 shares in the company, valued at $993,206. This represents a 101.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Bradley D. Tilden acquired 1,370 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $218.50 per share, with a total value of $299,345.00. Following the completion of the acquisition, the director owned 1,370 shares of the company’s stock, valued at $299,345. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.10% of the stock is owned by insiders.

Boeing News Summary

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: National Airlines took delivery of its second Boeing 777 Freighter, underscoring continued demand for Boeing cargo aircraft and supporting Boeing’s order/backlog narrative. National Airlines Continues Strategic Fleet Expansion with Delivery of Second Boeing 777F
• Positive Sentiment: Boeing Saudi Arabia and GACA launched an advanced air mobility feasibility study with SkyGrid and KAUST, which could help Boeing build future opportunities in emerging aviation markets. Boeing Saudi Arabia and GACA launch AAM Airspace and Operational Feasibility Analysis with support from SkyGrid, and KAUST
• Positive Sentiment: A Boeing director disclosed insider buying of about $299,345, a signal investors often view as a vote of confidence in the company’s outlook. Insider Buying: Boeing (NYSE:BA) Director Buys $299,345.00 in Stock
• Neutral Sentiment: Analyst commentary comparing Boeing with Lockheed Martin and long-term think pieces on Boeing’s decade-ahead prospects were broadly valuation-focused and are unlikely to move the stock on their own. BA vs. LMT: Which Aerospace-Defense Giant Offers Better Value Today?
• Negative Sentiment: SpaceX won additional NASA crew mission work while Boeing lost out, reinforcing concerns that Boeing is falling behind in key space-related programs. SpaceX Wins Where Boeing Loses: NASA Hands Musk-Led Company More Crew Missions
• Negative Sentiment: Reports that China only bought 200 Boeing planes were seen as disappointing, suggesting softer-than-hoped demand from a major market. The Disappointing Boeing Deal: Why China Only Bought 200 Planes

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.