Gerald Baker Financial Group LLC Makes New Investment in The Boeing Company $BA

Gerald Baker Financial Group LLC acquired a new position in shares of The Boeing Company (NYSE:BA) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,087 shares of the aircraft producer’s stock, valued at approximately $614,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of BA. Measured Wealth Private Client Group LLC purchased a new stake in Boeing during the third quarter valued at $25,000. Strive Financial Group LLC purchased a new position in shares of Boeing in the 4th quarter worth $25,000. Ares Financial Consulting LLC purchased a new position in shares of Boeing in the 4th quarter worth $26,000. CrossGen Wealth LLC bought a new stake in shares of Boeing in the 4th quarter worth about $26,000. Finally, Strategic Wealth Advisors LLC bought a new stake in shares of Boeing in the 4th quarter worth about $27,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Price Performance

Shares of BA stock opened at $214.24 on Friday. The Boeing Company has a 52-week low of $176.77 and a 52-week high of $254.35. The company has a debt-to-equity ratio of 7.42, a quick ratio of 0.35 and a current ratio of 1.18. The firm has a market capitalization of $168.88 billion, a P/E ratio of 104.00 and a beta of 1.21. The stock has a 50 day moving average price of $222.30 and a 200 day moving average price of $224.82.

Boeing (NYSE:BA) last released 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 business had revenue of $22.22 billion during the quarter, compared to analysts’ expectations of $22.15 billion. During the same quarter in the previous year, the business earned ($0.49) EPS. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. As a group, sell-side analysts predict that The Boeing Company will post -0.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BA shares. Citigroup increased their price target on shares of Boeing from $256.00 to $260.00 and gave the company a “buy” rating in a report on Monday, May 18th. Tigress Financial upped their price objective on Boeing from $290.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Weiss Ratings lowered Boeing from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, April 24th. Wolfe Research reissued an “outperform” rating and set a $275.00 target price on shares of Boeing in a research report on Thursday, April 23rd. Finally, Wells Fargo & Company started coverage on Boeing in a report on Wednesday, April 1st. They set an “overweight” rating and a $250.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $261.53.

Key Headlines Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing is nearing regulatory approval for a fix to the 737 MAX anti-ice system, which could clear the way for long-delayed 737 MAX 7 and MAX 10 deliveries and improve the outlook for near-term production. Reuters: Boeing nears approval of 737 MAX anti-ice fix, paving way for deliveries
• Positive Sentiment: The company reported strong June deliveries of 64 jets, bringing first-half deliveries to 314 aircraft, its best first-half performance since 2018 and a positive sign for cash flow and execution heading into earnings. Article: Boeing Delivered 64 Jets in June. Here’s What That Means for Its July 28 Earnings.
• Positive Sentiment: Reuters also reported Boeing is near a key certification milestone for the 737 MAX 7 and MAX 10, while progress on the 737 MAX anti-icing certification and 777X program adds to investor optimism about production ramps and future deliveries. Seeking Alpha: Boeing nears key certification milestone for 737 Max 7 and Max 10
• Neutral Sentiment: Boeing is showcasing its commercial, defense, and services portfolio at major industry events, which helps visibility but is not likely to move the stock on its own. PR Newswire: Boeing highlights portfolio at aviation’s largest celebration
• Negative Sentiment: A Reuters report that the U.S. will lead the probe into a Ryanair Boeing 737 incident over Greece keeps safety and oversight issues in the headlines, which can weigh on sentiment even though it does not directly change Boeing’s fundamentals. Reuters: US to take lead in probe into Ryanair Boeing 737 engine failure over Greece

Insider Activity at Boeing

In related 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 price of $218.50 per share, with a total value of $299,345.00. Following the purchase, the director directly owned 1,370 shares of the company’s stock, valued at approximately $299,345. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.10% of the company’s stock.

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.