The Boeing Company $BA Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. trimmed its position in shares of The Boeing Company (NYSE:BA) by 9.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 68,024 shares of the aircraft producer’s stock after selling 6,726 shares during the period. Oppenheimer & Co. Inc.’s holdings in Boeing were worth $12,656,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Jupiter Topco LLC purchased a new position in shares of Boeing in the 2nd quarter worth approximately $911,878,000. Bank of New York Mellon Corp purchased a new stake in Boeing during the second quarter valued at approximately $747,763,000. Legal & General Group Plc purchased a new stake in Boeing during the second quarter valued at approximately $710,816,000. Deutsche Bank AG purchased a new stake in Boeing during the second quarter valued at approximately $539,456,000. Finally, Swiss National Bank boosted its stake in Boeing by 7.6% in the first quarter. Swiss National Bank now owns 2,298,077 shares of the aircraft producer’s stock valued at $457,386,000 after acquiring an additional 163,000 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

More Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing’s total backlog reached a record approximately $745 billion, increasing by about $30 billion during the quarter and including more than 6,300 commercial aircraft. The 737-10 also received amended type certification from the FAA, removing a significant regulatory overhang. Boeing’s backlog and 737 MAX 10 certification
• Positive Sentiment: Cash performance improved: operating cash flow was about $1.5 billion and free cash flow was approximately $464 million to $500 million, compared with negative cash generation in the prior-year period. Revenue rose 3.9% year over year to $24.19 billion, while defense and services delivered stronger results. Boeing third-quarter financial results
• Positive Sentiment: Boeing was selected by the U.S. Navy to design and build the F/A-XX next-generation fighter aircraft, adding support for its defense business and long-term order pipeline. Boeing third-quarter results announcement
• Neutral Sentiment: The company’s GAAP net loss narrowed substantially to $116 million, or $0.26 per share, from $5.3 billion a year earlier. However, adjusted loss per share was $0.34, missing the roughly $0.25 analyst consensus despite revenue exceeding estimates. Boeing earnings report
• Negative Sentiment: Commercial Airplanes remained the central concern, recording a $697 million operating loss and a negative 6.5% margin despite 161 deliveries. Supply-chain costs, production changes and an unfavorable delivery mix continued to pressure profitability. Boeing production challenges
• Negative Sentiment: Management lowered its 737 MAX delivery expectations and said the production ramp will be deliberate, with a target of 52 jets per month pushed into the second half of next year. The delay undermines confidence in Boeing’s turnaround timeline and overshadowed the record backlog and positive cash flow. Boeing 737 MAX production ramp

Analyst Upgrades and Downgrades

BA has been the topic of several analyst reports. UBS Group reaffirmed a “buy” rating on shares of Boeing in a report on Tuesday, September 29th. Morgan Stanley reduced their price target on Boeing from $250.00 to $225.00 and set an “equal weight” rating on the stock in a research report on Friday, October 16th. The Goldman Sachs Group lowered Boeing from a “buy” rating to a “hold” rating in a report on Tuesday, August 11th. DZ Bank reissued a “buy” rating on shares of Boeing in a research report on Thursday, August 6th. Finally, Btg Pactual set a $260.00 price objective on Boeing in a research report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $266.31.

Boeing Stock Performance

BA opened at $168.09 on Wednesday. The Boeing Company has a 52-week low of $167.41 and a 52-week high of $254.35. The firm’s 50-day moving average price is $199.09 and its 200-day moving average price is $218.16.

Boeing (NYSE:BA) last announced its quarterly earnings data on Tuesday, October 27th. The aircraft producer reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.09). The company had revenue of $24.19 billion for the quarter, compared to analysts’ expectations of $23.95 billion. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($7.47) earnings per share. On average, analysts expect that The Boeing Company will post -1.08 EPS for the current year.

Boeing Profile

The Boeing Company (NYSE: BA) is a global aerospace company that designs, manufactures and supports commercial airplanes, military aircraft, satellites, space systems and related products and services. Its offerings serve airlines, government agencies, defense organizations and other customers worldwide.

Boeing operates through three principal business areas: Commercial Airplanes, which develops and produces passenger and cargo aircraft; Defense, Space & Security, which provides military aircraft, weapons systems, satellites and space-related platforms; and Global Services, which offers parts, maintenance, training, engineering and other lifecycle support.

Founded in 1916 by William Boeing, the company has grown into one of the world’s major aerospace manufacturers.