The Boeing Company $BA Stock: Brighton Jones LLC Lowers Holdings

Brighton Jones LLC cut its stake in shares of The Boeing Company (NYSE:BA) by 14.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 31,535 shares of the aircraft producer’s stock after selling 5,145 shares during the quarter. Brighton Jones LLC’s holdings in Boeing were worth $5,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Jupiter Topco LLC purchased a new position in Boeing in the 2nd quarter worth $911,878,000. Bank of New York Mellon Corp acquired a new stake in Boeing during the 2nd quarter worth about $747,763,000. Legal & General Group Plc acquired a new stake in Boeing during the 2nd quarter worth about $710,816,000. Deutsche Bank AG purchased a new stake in Boeing during the 2nd quarter valued at about $539,456,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Boeing during the 2nd quarter valued at about $441,997,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Mortimer J. Buckley acquired 5,820 shares of the business’s stock in a transaction on Friday, October 30th. The stock was bought at an average price of $171.55 per share, with a total value of $998,421.00. Following the completion of the acquisition, the director 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 document filed with the SEC, which is accessible through the SEC website. Also, Director Steven M. Mollenkopf acquired 2,950 shares of the business’s stock in a transaction on Friday, October 30th. The stock was purchased at an average cost of $173.03 per share, with a total value of $510,438.50. Following the acquisition, the director directly owned 6,717 shares of the company’s stock, valued at $1,162,242.51. This represents 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.

Boeing Trading Up 0.0%

Boeing stock opened at $173.44 on Monday. The firm has a market cap of $137.44 billion, a PE ratio of 18.87 and a beta of 1.34. The Boeing Company has a 12 month low of $165.01 and a 12 month high of $254.35. The stock’s 50 day simple moving average is $192.39 and its two-hundred day simple moving average is $215.41. The company has a current ratio of 1.13, a quick ratio of 0.34 and a debt-to-equity ratio of 6.31.

Boeing (NYSE:BA) last posted its earnings results 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 analysts’ expectations of $23.95 billion. Boeing had a net margin of 7.98% and a negative return on equity of 42.40%. Boeing’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the firm earned ($7.47) earnings per share. Analysts anticipate that The Boeing Company will post -1.84 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BA. Btg Pactual set a $260.00 price objective on Boeing in a report on Tuesday, July 14th. Scotiabank upgraded Boeing to an “outperform” rating in a research note on Wednesday, October 28th. Needham & Company LLC assumed coverage on Boeing in a report on Wednesday, October 28th. They set a “hold” rating for the company. Zacks Research lowered Boeing from a “hold” rating to a “strong sell” rating in a research report on Friday, October 16th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $238.00 target price on shares of Boeing in a research 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.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $247.88.

Boeing News Roundup

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Avolon ordered 140 Boeing 737-10 jets, a record order that reinforces demand for Boeing’s largest 737 variant and adds to its backlog. Boeing Looks 8% Overvalued Following Avolon’s Order
• Positive Sentiment: Two directors bought Boeing shares after the stock’s decline, while a report also cited positive free cash flow. Those signals may bolster confidence, though they do not resolve operational challenges. Boeing Has the Orders, the Cash Flow, and Insider Buyers
• Neutral Sentiment: A valuation analysis said Boeing shares looked about 8% overvalued despite the Avolon order, reflecting concerns about the company’s recent performance and delivery outlook. Boeing Valuation Analysis
• Negative Sentiment: Boeing reportedly delivered 32 MAX jets in October, its lowest monthly total in nearly a year. Fewer deliveries could weigh on revenue and complicate the production recovery. October MAX Deliveries
• Negative Sentiment: The FAA is scrutinizing Dreamliner wing issues, adding a potential quality-control and regulatory overhang that could raise the risk of delays or added costs. FAA Scrutiny of Dreamliner Wings

Boeing Company Profile

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.