Senator Investment Group LP Cuts Holdings in The Boeing Company $BA

Senator Investment Group LP cut its position in shares of The Boeing Company (NYSE:BA) by 85.3% during the 4th quarter, Holdings Channel reports. The firm owned 27,500 shares of the aircraft producer’s stock after selling 160,000 shares during the quarter. Senator Investment Group LP’s holdings in Boeing were worth $5,971,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC purchased a new position in Boeing in the third quarter valued at about $25,000. Ares Financial Consulting LLC purchased a new position in Boeing in the fourth quarter valued at about $26,000. Strategic Wealth Advisors LLC purchased a new position in Boeing in the fourth quarter valued at about $27,000. 1 North Wealth Services LLC purchased a new position in Boeing in the fourth quarter valued at about $27,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in Boeing in the fourth quarter valued at about $28,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on BA shares. Citigroup boosted their target price on shares of Boeing from $256.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Weiss Ratings cut shares of Boeing from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, April 24th. Wolfe Research reiterated an “outperform” rating and issued a $275.00 target price on shares of Boeing in a research note on Thursday, April 23rd. Tigress Financial boosted their target price on shares of Boeing from $290.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Boeing in a research note on Wednesday, March 4th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and a consensus target price of $262.32.

Boeing Stock Performance

Shares of BA stock opened at $229.22 on Tuesday. The stock has a market capitalization of $180.70 billion, a P/E ratio of 111.27 and a beta of 1.20. The company has a current ratio of 1.18, a quick ratio of 0.35 and a debt-to-equity ratio of 7.42. The firm’s 50 day moving average is $223.20 and its 200 day moving average is $222.01. The Boeing Company has a 12 month low of $176.77 and a 12 month high of $254.35.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.48. The business had revenue of $22.22 billion for the quarter, compared to analysts’ expectations of $22.15 billion. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.49) earnings per share. On average, sell-side analysts anticipate that The Boeing Company will post -0.15 earnings per share for the current year.

Key Headlines Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Falling oil prices and a broad risk-on rally tied to the U.S.-Iran ceasefire improved sentiment across aerospace and airline names, helping boost Boeing stock. Stock Market Today: Dow Jumps 600 Points On U.S.-Iran Deal; Chip Companies, Boeing Take Off (Live Coverage)
• Positive Sentiment: Reports that Boeing is out of the U.S. Navy trainer competition may be viewed as a disciplined move to focus on higher-value programs and preserve capital for core production and defense priorities. Boeing Out of United States Navy Trainer Program, Boeing Stock (NYSE:BA) Jumps
• Positive Sentiment: Recent operational updates show Boeing investing $2.35 billion to expand capacity in Wichita, Kansas, while May aircraft deliveries improved and the U.S. Air Force backed Boeing’s updated KC-46A tanker vision system, supporting the case for improving execution in both commercial and defense businesses. Boeing Updates Capacity And Defense Progress As Shares Trade Below Targets
• Neutral Sentiment: Social-media and market commentary continues to point to production-ramp hopes and FAA approval expectations as potential longer-term catalysts, but near-term volatility remains tied to delivery timing and program execution. Boeing Stock (BA) Opinions on Production Ramp and FAA Approvals

Insider Activity at Boeing

In other Boeing news, Director Bradley D. Tilden purchased 1,370 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average cost of $218.50 per share, for a total transaction of $299,345.00. Following the purchase, the director owned 1,370 shares of the company’s stock, valued at $299,345. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.10% of the company’s stock.

About Boeing

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.