The Boeing Company $BA Shares Bought by Picton Mahoney Asset Management

Picton Mahoney Asset Management lifted its holdings in shares of The Boeing Company (NYSE:BA) by 41.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 115,683 shares of the aircraft producer’s stock after buying an additional 34,152 shares during the period. Picton Mahoney Asset Management’s holdings in Boeing were worth $24,968,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Blue Barn Wealth LLC raised its position in Boeing by 1.8% in the second quarter. Blue Barn Wealth LLC now owns 2,594 shares of the aircraft producer’s stock worth $544,000 after acquiring an additional 46 shares in the last quarter. N.E.W. Advisory Services LLC boosted its position in shares of Boeing by 3.1% during the 3rd quarter. N.E.W. Advisory Services LLC now owns 1,540 shares of the aircraft producer’s stock worth $332,000 after purchasing an additional 46 shares in the last quarter. Motco grew its stake in shares of Boeing by 5.4% during the 3rd quarter. Motco now owns 921 shares of the aircraft producer’s stock worth $199,000 after purchasing an additional 47 shares during the period. Encompass Wealth Advisors LLC increased its holdings in shares of Boeing by 0.9% in the 3rd quarter. Encompass Wealth Advisors LLC now owns 5,045 shares of the aircraft producer’s stock valued at $1,089,000 after purchasing an additional 47 shares in the last quarter. Finally, Jacobsen Capital Management lifted its stake in shares of Boeing by 4.6% in the third quarter. Jacobsen Capital Management now owns 1,070 shares of the aircraft producer’s stock valued at $231,000 after purchasing an additional 47 shares during the period. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Boeing

In other news, EVP Uma M. Amuluru sold 1,503 shares of Boeing stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $233.78, for a total value of $351,371.34. Following the completion of the sale, the executive vice president owned 19,015 shares of the company’s stock, valued at $4,445,326.70. The trade was a 7.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Howard E. Mckenzie sold 10,497 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $233.99, for a total value of $2,456,193.03. Following the completion of the transaction, the executive vice president owned 14,692 shares of the company’s stock, valued at $3,437,781.08. The trade was a 41.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 21,012 shares of company stock worth $4,980,687 over the last quarter. 0.09% of the stock is currently owned by insiders.

Boeing Stock Performance

Shares of NYSE BA opened at $223.98 on Wednesday. The company has a 50-day simple moving average of $235.14 and a 200-day simple moving average of $219.75. The company has a debt-to-equity ratio of 8.37, a current ratio of 1.19 and a quick ratio of 0.40. The company has a market cap of $175.90 billion, a PE ratio of 111.43 and a beta of 1.14. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $254.35.

Boeing (NYSE:BA) last announced its quarterly earnings data on Tuesday, January 27th. The aircraft producer reported $9.92 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $10.32. The firm had revenue of $23.95 billion for the quarter, compared to analysts’ expectations of $22.41 billion. The business’s quarterly revenue was up 57.1% on a year-over-year basis. During the same period in the previous year, the company posted ($5.90) EPS. On average, equities analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on BA. Zacks Research upgraded shares of Boeing from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 2nd. Argus upgraded Boeing to a “hold” rating in a report on Monday, February 2nd. JPMorgan Chase & Co. raised their price objective on Boeing from $245.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Wolfe Research reiterated an “outperform” rating on shares of Boeing in a research report on Tuesday, January 27th. Finally, BNP Paribas Exane set a $150.00 price target on Boeing in a research report on Tuesday, November 18th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $246.14.

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.