The Boeing Company $BA Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC lessened its holdings in shares of The Boeing Company (NYSE:BA) by 23.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,868 shares of the aircraft producer’s stock after selling 3,033 shares during the period. Parallel Advisors LLC’s holdings in Boeing were worth $1,836,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Plancorp LLC increased its stake in shares of Boeing by 4.6% during the third quarter. Plancorp LLC now owns 10,805 shares of the aircraft producer’s stock valued at $1,854,000 after purchasing an additional 473 shares in the last quarter. Waycross Partners LLC lifted its holdings in shares of Boeing by 8.2% during the third quarter. Waycross Partners LLC now owns 206,403 shares of the aircraft producer’s stock valued at $38,401,000 after purchasing an additional 15,675 shares during the last quarter. Alps Advisors Inc. lifted its holdings in shares of Boeing by 4.2% during the third quarter. Alps Advisors Inc. now owns 9,144 shares of the aircraft producer’s stock valued at $1,701,000 after purchasing an additional 371 shares during the last quarter. CenterBook Partners LP purchased a new position in shares of Boeing during the third quarter valued at approximately $605,000. Finally, Canvas Wealth Advisors LLC bought a new stake in shares of Boeing in the 3rd quarter worth approximately $240,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Boeing

In other Boeing news, Director Mortimer Buckley acquired 5,820 shares of the stock in a transaction that occurred on Friday, October 30th. The shares were acquired at an average cost of $171.55 per share, with a total value of $998,421.00. Following the transaction, the director owned 10,250 shares of the company’s stock, valued at $1,758,387.50. The trade was a 131.38% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Steven Mollenkopf bought 2,950 shares of the business’s stock in a transaction on Friday, October 30th. The shares were acquired at an average price of $173.03 per share, for a total transaction of $510,438.50. Following the completion of the purchase, the director owned 6,717 shares in the company, valued at approximately $1,162,242.51. The trade was a 78.31% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.10% of the company’s stock.

Key Stories Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing’s reported $745 billion order book points to substantial longer-term demand for its aircraft, providing a potential offset to concerns about the pace of production. Article: Boeing (BA): A Top 10 Dow Stock for 2027 With a Record $745B of Orders
• Negative Sentiment: Boeing plans to cut about 5% of its commercial-airplane workforce through layoffs and attrition because production is increasing more slowly than previously expected. The announcement underscores a more cautious production ramp and may weigh on confidence in the division’s recovery, even as staffing reductions could help control costs. Article: Boeing to cut 5% of commercial airplane workforce as production increase is slower than expected

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BA shares. Piper Sandler downgraded Boeing from an “overweight” rating to a “neutral” rating in a research note on Wednesday, October 28th. Wells Fargo & Company reduced their price objective on Boeing from $250.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, October 28th. Bank of America reiterated a “buy” rating and set a $270.00 price objective on shares of Boeing in a research note on Friday, September 18th. Btg Pactual set a $260.00 target price on Boeing in a report on Tuesday, July 14th. Finally, Langenberg & Company set a $250.00 target price on Boeing in a research note on Tuesday, October 27th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $247.88.

Boeing Stock Down 0.4%

Shares of Boeing stock opened at $172.64 on Tuesday. The company has a 50-day simple moving average of $191.65 and a two-hundred day simple moving average of $215.03. The Boeing Company has a 52-week low of $165.01 and a 52-week high of $254.35. The company has a quick ratio of 0.34, a current ratio of 1.13 and a debt-to-equity ratio of 6.31.

Boeing (NYSE:BA) last posted its quarterly earnings results on Tuesday, October 27th. The aircraft producer reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.09). The firm had revenue of $24.19 billion for the quarter, compared to analysts’ expectations of $23.95 billion. Boeing had a net margin of 7.98% and a negative return on equity of 42.40%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($7.47) EPS. Equities research analysts forecast that The Boeing Company will post -1.84 EPS for the current year.

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.

Founded in 1916 by William Boeing, the company has grown into a global aerospace business serving customers across the Americas, Europe, Asia and other regions.