Hill City Capital LP Acquires New Shares in The Boeing Company $BA

Hill City Capital LP bought a new stake in shares of The Boeing Company (NYSE:BA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 621,583 shares of the aircraft producer’s stock, valued at approximately $134,554,000. Boeing accounts for about 3.4% of Hill City Capital LP’s portfolio, making the stock its 8th biggest holding.

Several other institutional investors have also recently made changes to their positions in BA. Vanguard Group Inc. grew its position in shares of Boeing by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 70,989,438 shares of the aircraft producer’s stock valued at $15,413,227,000 after purchasing an additional 3,460,021 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Boeing during the 2nd quarter valued at $747,763,000. Deutsche Bank AG purchased a new stake in Boeing during the 2nd quarter worth about $539,456,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Boeing during the 2nd quarter worth about $441,997,000. Finally, Alyeska Investment Group L.P. boosted its stake in Boeing by 245.7% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,252,450 shares of the aircraft producer’s stock worth $489,052,000 after purchasing an additional 1,600,909 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of BA opened at $214.20 on Monday. The Boeing Company has a 1-year low of $176.77 and a 1-year high of $254.35. The company has a market capitalization of $169.30 billion, a P/E ratio of 92.73 and a beta of 1.21. The company has a debt-to-equity ratio of 6.77, a current ratio of 1.14 and a quick ratio of 0.33. The firm’s 50 day simple moving average is $222.11 and its 200 day simple moving average is $222.18.

Boeing (NYSE:BA) last issued its quarterly earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.42). The company had revenue of $24.56 billion during the quarter, compared to the consensus estimate of $24.26 billion. Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.Boeing’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the company earned ($1.24) EPS. Sell-side analysts forecast that The Boeing Company will post -0.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on BA. BNP Paribas Exane raised Boeing from an “underperform” rating to an “outperform” rating and lifted their target price for the company from $230.00 to $300.00 in a report on Monday, August 3rd. Cantor Fitzgerald downgraded shares of Boeing to a “neutral” rating in a report on Tuesday, August 11th. Citigroup lowered shares of Boeing from a “buy” rating to a “sell” rating in a research report on Tuesday, August 11th. Barclays lowered shares of Boeing from an “equal weight” rating to an “underweight” rating in a report on Tuesday, August 11th. Finally, The Goldman Sachs Group downgraded shares of Boeing from a “buy” rating to a “hold” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Boeing has an average rating of “Moderate Buy” and an average target price of $272.58.

Key Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: The U.S. State Department approved a potential $4.5 billion sale of KC-46A tanker aircraft to Qatar. The approval supports Boeing’s defense backlog, although the transaction still requires finalization. US approves potential $4.5B sale of Boeing KC-46A tankers to Qatar
• Positive Sentiment: Boeing’s agreement to sell or transfer businesses including Wisk Aero, Insitu and SkyGrid to Archer Aviation, while taking a strategic stake in Archer, could generate cash and provide exposure to autonomous and electric aviation markets. However, the deal’s financial impact and execution remain uncertain. Archer Aviation bets big on becoming more than an air taxi company
• Neutral Sentiment: AerCap delivered its tenth Boeing 787 to Grupo Aeromexico, marking its 100th 787 delivery from its direct order book. The milestone signals continuing customer demand for the Dreamliner but is not a new Boeing order or immediate revenue catalyst. AerCap Holdings compared with Boeing
• Negative Sentiment: Voting ends on Boeing’s proposed four-year contract with the Society of Professional Engineering Employees in Aerospace, representing roughly 17,000 engineers and technical workers. A rejection could authorize a strike after the current contracts expire on October 6, raising concerns about production, certification and delivery schedules. Results were expected Friday afternoon. Boeing white-collar union contract vote results expected today
• Negative Sentiment: The labor uncertainty is outweighing recent operating progress, including higher commercial deliveries and efforts to increase 737 production. Investors appear concerned that a work stoppage could interrupt Boeing’s recovery. Boeing slides as labor vote uncertainty outweighs operational progress
• Negative Sentiment: Boeing is advancing repairs to Air Force One, but window replacement and interior work could threaten the program’s schedule, adding another execution risk to the company’s defense business. Boeing advances Air Force One repairs

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.