Westover Capital Advisors LLC Purchases Shares of 2,200 The Boeing Company $BA

Westover Capital Advisors LLC acquired a new position in The Boeing Company (NYSE:BA) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,200 shares of the aircraft producer’s stock, valued at approximately $475,000.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Boeing by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 66,773,360 shares of the aircraft producer’s stock worth $13,991,022,000 after purchasing an additional 1,118,316 shares during the period. Ninety One UK Ltd bought a new position in shares of Boeing during the third quarter worth $192,734,000. Amundi grew its stake in Boeing by 75.5% during the second quarter. Amundi now owns 1,776,634 shares of the aircraft producer’s stock valued at $376,700,000 after acquiring an additional 764,236 shares in the last quarter. Newport Trust Company LLC increased its holdings in Boeing by 2.5% in the 3rd quarter. Newport Trust Company LLC now owns 29,198,446 shares of the aircraft producer’s stock valued at $6,301,901,000 after acquiring an additional 707,490 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in Boeing by 3,581.5% in the 2nd quarter. Bessemer Group Inc. now owns 711,824 shares of the aircraft producer’s stock worth $149,149,000 after purchasing an additional 692,489 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

Shares of BA opened at $236.65 on Thursday. The business’s 50-day moving average is $227.35 and its two-hundred day moving average is $219.21. The company has a market capitalization of $185.85 billion, a P/E ratio of 117.74 and a beta of 1.15. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $254.35. The company has a debt-to-equity ratio of 8.37, a quick ratio of 0.40 and a current ratio of 1.19.

Boeing (NYSE:BA) last posted its earnings results on Tuesday, January 27th. The aircraft producer reported $9.92 earnings per share 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. Boeing’s revenue for the quarter was up 57.1% compared to the same quarter last year. During the same period last year, the firm earned ($5.90) earnings per share. Research analysts predict that The Boeing Company will post -2.58 earnings per share for the current year.

Wall Street Analyst Weigh In

BA has been the subject of a number of research reports. Wolfe Research reissued an “outperform” rating on shares of Boeing in a research note on Tuesday, January 27th. TD Cowen reiterated a “buy” rating on shares of Boeing in a research note on Wednesday, January 28th. The Goldman Sachs Group reiterated a “buy” rating on shares of Boeing in a report on Tuesday, December 9th. Citigroup reissued a “buy” rating on shares of Boeing in a research note on Thursday, February 5th. Finally, JPMorgan Chase & Co. lifted their target price on Boeing from $245.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $246.14.

Insider Buying and Selling

In other news, EVP Uma M. Amuluru sold 2,731 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $236.00, for a total transaction of $644,516.00. Following the completion of the transaction, the executive vice president directly owned 11,925 shares of the company’s stock, valued at $2,814,300. This represents a 18.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Howard E. Mckenzie sold 10,497 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 14,692 shares in the company, valued at $3,437,781.08. This trade represents a 41.67% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.09% of the stock is currently owned by insiders.

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.