Hodges Capital Management Inc. Raises Stock Holdings in The Boeing Company $BA

Hodges Capital Management Inc. grew its stake in shares of The Boeing Company (NYSE:BA) by 19.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,413 shares of the aircraft producer’s stock after acquiring an additional 8,538 shares during the quarter. Hodges Capital Management Inc.’s holdings in Boeing were worth $11,312,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Boeing by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 66,773,360 shares of the aircraft producer’s stock valued at $13,991,022,000 after buying an additional 1,118,316 shares during the last quarter. Ninety One UK Ltd bought a new stake in shares of Boeing in the third quarter worth $192,734,000. Amundi grew its holdings in shares of Boeing by 75.5% in the second quarter. Amundi now owns 1,776,634 shares of the aircraft producer’s stock worth $376,700,000 after acquiring an additional 764,236 shares during the period. Newport Trust Company LLC increased its position in Boeing by 2.5% during the third 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 holdings in Boeing by 3,581.5% in the second quarter. Bessemer Group Inc. now owns 711,824 shares of the aircraft producer’s stock valued at $149,149,000 after acquiring an additional 692,489 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Uma M. Amuluru sold 2,731 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were 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 approximately $2,814,300. This trade represents a 18.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Howard E. Mckenzie sold 10,497 shares of Boeing stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $233.99, for a total transaction of $2,456,193.03. Following the completion of the sale, the executive vice president owned 14,692 shares in the company, valued at approximately $3,437,781.08. This represents a 41.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on BA. New Street Research set a $257.00 price target on Boeing in a research note on Tuesday, December 9th. Morgan Stanley set a $245.00 target price on shares of Boeing in a research report on Wednesday, January 28th. The Goldman Sachs Group reiterated a “buy” rating on shares of Boeing in a research report on Tuesday, December 9th. JPMorgan Chase & Co. lifted their price target on shares of Boeing from $245.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Finally, Deutsche Bank Aktiengesellschaft lowered Boeing from a “buy” rating to a “hold” rating and set a $240.00 price objective for the company. in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $246.14.

Boeing Stock Performance

NYSE BA opened at $243.86 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 1.19 and a debt-to-equity ratio of 8.37. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $254.35. The business has a 50-day moving average price of $230.52 and a 200-day moving average price of $219.60. The firm has a market cap of $191.51 billion, a price-to-earnings ratio of 121.32 and a beta of 1.15.

Boeing (NYSE:BA) last posted its quarterly earnings results on Tuesday, January 27th. The aircraft producer reported $9.92 EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $10.32. The business had revenue of $23.95 billion during the quarter, compared to analysts’ expectations of $22.41 billion. During the same period in the prior year, the firm posted ($5.90) earnings per share. The firm’s revenue for the quarter was up 57.1% on a year-over-year basis. As a group, equities research analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal year.

Boeing Company 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.