TD Asset Management Inc Acquires 6,642 Shares of The Boeing Company $BA

TD Asset Management Inc raised its holdings in The Boeing Company (NYSE:BA) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 329,887 shares of the aircraft producer’s stock after acquiring an additional 6,642 shares during the quarter. TD Asset Management Inc’s holdings in Boeing were worth $71,625,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fisher Asset Management LLC increased its position in Boeing by 3.3% in the 3rd quarter. Fisher Asset Management LLC now owns 5,505,040 shares of the aircraft producer’s stock valued at $1,188,153,000 after buying an additional 177,597 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Boeing by 41.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 223,824 shares of the aircraft producer’s stock valued at $48,316,000 after purchasing an additional 65,216 shares during the last quarter. Princeton Capital Management LLC boosted its stake in Boeing by 78.3% during the 4th 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 last quarter. Granite Investment Partners LLC boosted its stake in Boeing by 1,984.0% during the 3rd quarter. Granite Investment Partners LLC now owns 31,448 shares of the aircraft producer’s stock valued at $6,787,000 after purchasing an additional 29,939 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in Boeing during the 4th quarter valued at about $55,787,000. 64.82% of the stock is owned by institutional investors.

Key Stories Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing said it will start building 737 MAX jets on a new final assembly line in Everett, Washington, on July 6, a sign that the company is getting closer to ramping production and potentially lifting output toward 52 jets per month. Boeing to start 737 Max production on new assembly line July 6, CEO says
• Positive Sentiment: Boeing delivered the first two 787 Dreamliners to Riyadh Air, reinforcing steady commercial aircraft demand and giving investors another concrete delivery milestone. Boeing Delivers Riyadh Air’s First Two 787 Dreamliner Jets
• Positive Sentiment: Reports that China may consider additional aircraft purchases, along with interest from airlines such as Qantas and Singapore Airlines in wide-body orders, are supporting the view that Boeing could benefit from stronger future demand. China Considering Further Aircraft Purchases, Boeing Stock (NYSE:BA) Jumps
• Neutral Sentiment: Analyst commentary continues to highlight Boeing’s improving delivery momentum and large commercial backlog, which supports the long-term outlook but does not appear to be a direct catalyst today. Can Boeing’s Commercial Aircraft Delivery Momentum Lift Performance?
• Negative Sentiment: A German investigation has been opened into the Boeing 787 nose-gear collapse in Frankfurt, and reports say several workers were injured, adding to safety concerns around the 787 program. German investigators launch probe into Boeing 787 incident in Frankfurt
• Negative Sentiment: Separate reports on the Frankfurt 787 incident and the resulting injuries are likely weighing on sentiment because they revive concerns about Boeing’s quality-control and reliability record. Several injured in Boeing 787 nose-gear collapse in Frankfurt
• Negative Sentiment: Even with the production and delivery updates, Boeing shares are also being pressured by a broader market rotation away from riskier names, helping explain why the stock is under pressure despite the company-specific positives. What’s Going On With Boeing Stock Friday?

Insider Buying and Selling

In other news, Director Bradley D. Tilden acquired 1,370 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average price of $218.50 per share, for a total transaction of $299,345.00. Following the completion of the acquisition, the director owned 1,370 shares of the company’s stock, valued at approximately $299,345. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Citigroup lifted their price target on Boeing from $256.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Wells Fargo & Company assumed coverage on Boeing in a research note on Wednesday, April 1st. They set an “overweight” rating and a $250.00 price target for the company. Weiss Ratings downgraded Boeing from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, April 24th. Morgan Stanley boosted their target price on Boeing from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 23rd. Finally, Tigress Financial boosted their target price on Boeing from $290.00 to $295.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and an average price target of $259.80.

Boeing Price Performance

NYSE BA opened at $215.72 on Friday. The company has a 50 day simple moving average of $220.80 and a 200-day simple moving average of $220.31. 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 firm has a market capitalization of $170.05 billion, a price-to-earnings ratio of 104.72 and a beta of 1.19. The Boeing Company has a 52-week low of $176.77 and a 52-week high of $254.35.

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

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.