Janney Montgomery Scott LLC Raises Holdings in The Boeing Company $BA

Janney Montgomery Scott LLC increased its stake in shares of The Boeing Company (NYSE:BA) by 3.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 170,195 shares of the aircraft producer’s stock after acquiring an additional 5,474 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Boeing were worth $33,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Measured Wealth Private Client Group LLC purchased a new stake in shares of Boeing during the third quarter valued at approximately $25,000. Strive Financial Group LLC purchased a new position in shares of Boeing in the fourth quarter worth $25,000. Ares Financial Consulting LLC purchased a new position in shares of Boeing in the fourth quarter worth $26,000. CrossGen Wealth LLC bought a new stake in Boeing during the 4th quarter valued at $26,000. Finally, Strategic Wealth Advisors LLC bought a new stake in Boeing during the 4th quarter valued at $27,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BA shares. Tigress Financial increased their price target on shares of Boeing from $290.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Wolfe Research restated an “outperform” rating and issued a $275.00 price objective on shares of Boeing in a research report on Thursday, April 23rd. Citigroup upped their price objective 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. Wells Fargo & Company initiated coverage on shares of Boeing in a report on Wednesday, April 1st. They set an “overweight” rating and a $250.00 target price for the company. Finally, Jefferies Financial Group reissued 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, fourteen have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $261.61.

Boeing Stock Performance

NYSE:BA opened at $214.41 on Tuesday. The firm’s fifty day simple moving average is $223.84 and its 200 day simple moving average is $223.70. The stock has a market cap of $169.02 billion, a P/E ratio of 104.08 and a beta of 1.20. The company has a quick ratio of 0.35, a current ratio of 1.18 and a debt-to-equity ratio of 7.42. The Boeing Company has a twelve month low of $176.77 and a twelve month high of $254.35.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.48. The firm had revenue of $22.22 billion for the quarter, compared to analysts’ expectations of $22.15 billion. During the same quarter last year, the company posted ($0.49) EPS. The firm’s revenue was up 14.0% on a year-over-year basis. As a group, research analysts predict that The Boeing Company will post -0.15 EPS for the current year.

Insiders Place Their Bets

In other news, Director Bradley D. Tilden purchased 1,370 shares of Boeing stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average cost of $218.50 per share, with a total value of $299,345.00. Following the completion of the purchase, the director directly owned 1,370 shares in the company, valued at approximately $299,345. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.10% 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.