The Boeing Company $BA Shares Acquired by Fisher Asset Management LLC

Fisher Asset Management LLC increased its position in shares of The Boeing Company (NYSE:BA) by 2.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,191,640 shares of the aircraft producer’s stock after purchasing an additional 135,985 shares during the quarter. Fisher Asset Management LLC owned approximately 0.78% of Boeing worth $1,151,955,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Jupiter Topco LLC bought a new stake in Boeing during the second quarter worth about $911,878,000. Bank of New York Mellon Corp bought a new position in shares of Boeing in the second quarter valued at about $747,763,000. Legal & General Group Plc acquired a new position in Boeing during the 2nd quarter worth about $710,816,000. Deutsche Bank AG bought a new stake in Boeing during the 2nd quarter worth about $539,456,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Boeing during the 2nd quarter worth about $441,997,000. 64.82% of the stock is owned by institutional investors.

Boeing Stock Down 1.7%

Boeing stock opened at $171.53 on Friday. The company has a debt-to-equity ratio of 6.31, a quick ratio of 0.34 and a current ratio of 1.13. The business has a 50-day moving average of $189.59 and a 200-day moving average of $213.86. The Boeing Company has a 1 year low of $165.01 and a 1 year high of $254.35.

Boeing (NYSE:BA) last released its quarterly earnings data on Tuesday, October 27th. The aircraft producer reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.09). The firm had revenue of $24.19 billion for the quarter, compared to the consensus estimate of $23.95 billion. Boeing had a negative return on equity of 42.40% and a net margin of 7.98%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($7.47) EPS. As a group, sell-side analysts expect that The Boeing Company will post -1.84 EPS for the current year.

Insiders Place Their Bets

In other news, Director Mortimer J. Buckley acquired 5,820 shares of Boeing stock in a transaction dated Friday, October 30th. The stock was bought at an average cost of $171.55 per share, with a total value of $998,421.00. Following the completion of the transaction, the director directly owned 10,250 shares of the company’s stock, valued at approximately $1,758,387.50. This represents a 131.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven M. Mollenkopf purchased 2,950 shares of the firm’s stock in a transaction dated Friday, October 30th. The shares were acquired at an average cost of $173.03 per share, with a total value of $510,438.50. Following the completion of the purchase, the director directly owned 6,717 shares in the company, valued at approximately $1,162,242.51. This represents a 78.31% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.10% of the company’s stock.

Boeing News Roundup

Investors following BA have been watching these news items:

• Positive Sentiment: Boeing’s record backlog and major defense wins provide demand support, even as production and delivery challenges remain.
• Negative Sentiment: Recent coverage points to production delays, labor shortages, and 777X setbacks as risks to Boeing’s recovery, despite its backlog and defense business. Article: Boeing Stock Drops 25.6% in 3 Months
• Negative Sentiment: Safety inspectors are calling for more contact with the factory floor, adding scrutiny to Boeing’s efforts to improve its safety culture. Article: Safety Inspectors Call for More Contact With Factory Floor

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wall Street Zen cut shares of Boeing from a “hold” rating to a “sell” rating in a research report on Saturday, October 24th. Morgan Stanley reduced their target price on shares of Boeing from $225.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 28th. Wells Fargo & Company reduced their target price on shares of Boeing from $250.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 28th. Rothschild & Co Redburn increased their price target on shares of Boeing from $260.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $238.00 price target on shares of Boeing in a report on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Boeing presently has an average rating of “Moderate Buy” and a consensus target price of $247.88.

About Boeing

The Boeing Company is an aerospace manufacturer that designs, builds and supports commercial airplanes, defense products and space systems. Its commercial aircraft include the 737, 767, 777 and 787 families, which serve passenger and cargo operators around the world. Boeing’s defense, space and security business supplies military aircraft, helicopters, weapons, satellites and related systems, as well as services for government customers. Its Boeing Global Services business provides support such as maintenance, parts, training and logistics for commercial and government customers.