18,535 Shares in The Boeing Company $BA Acquired by Elevation Point Wealth Partners LLC

Key Points

• Elevation Point Wealth Partners acquired 18,535 Boeing shares worth approximately $4.0 million in the second quarter, while institutional investors collectively own 64.82% of BA.
• Boeing reported a quarterly loss of $0.76 per share, missing estimates, despite revenue rising 8% year over year to $24.56 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $272.58.
• Potential catalysts include a proposed $4.5 billion Qatar KC-46A tanker sale and Boeing’s strategic transaction with Archer Aviation, while labor negotiations involving about 17,000 engineers pose a risk to production and delivery schedules.

Elevation Point Wealth Partners LLC acquired a new position in The Boeing Company (NYSE:BA - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 18,535 shares of the aircraft producer's stock, valued at approximately $4,012,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BA. Revolve Wealth Partners LLC bought a new stake in Boeing in the 4th quarter valued at $201,000. Sivia Capital Partners LLC grew its position in Boeing by 16.5% in the second quarter. Sivia Capital Partners LLC now owns 1,529 shares of the aircraft producer's stock worth $320,000 after acquiring an additional 217 shares in the last quarter. AXA S.A. grew its position in Boeing by 1,225.7% in the second quarter. AXA S.A. now owns 34,655 shares of the aircraft producer's stock worth $7,261,000 after acquiring an additional 32,041 shares in the last quarter. Ieq Capital LLC increased its stake in Boeing by 243.8% during the second quarter. Ieq Capital LLC now owns 33,485 shares of the aircraft producer's stock worth $7,016,000 after acquiring an additional 23,746 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in Boeing by 4.2% during the second quarter. Alliancebernstein L.P. now owns 1,334,451 shares of the aircraft producer's stock valued at $279,608,000 after purchasing an additional 53,736 shares during the period. Institutional investors own 64.82% of the company's stock.

Boeing Stock Down 0.4%

Shares of NYSE:BA opened at $214.20 on Friday. The Boeing Company has a 52-week low of $176.77 and a 52-week high of $254.35. The stock has a market cap of $169.30 billion, a P/E ratio of 92.73 and a beta of 1.21. The business's 50 day moving average is $222.11 and its 200 day moving average is $222.26. The company has a quick ratio of 0.33, a current ratio of 1.14 and a debt-to-equity ratio of 6.77.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The aircraft producer reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.42). Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.The firm had revenue of $24.56 billion for the quarter, compared to analysts' expectations of $24.26 billion. During the same quarter in the previous year, the business earned ($1.24) earnings per share. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. Sell-side analysts predict that The Boeing Company will post -0.87 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Btg Pactual set a $260.00 price objective on Boeing in a research note on Tuesday, July 14th. Argus raised Boeing from a "hold" rating to a "buy" rating and set a $265.00 target price on the stock in a research report on Tuesday, August 11th. Royal Bank Of Canada reduced their target price on shares of Boeing from $275.00 to $265.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 29th. William Blair reaffirmed an "outperform" rating on shares of Boeing in a research note on Tuesday, July 28th. Finally, Cantor Fitzgerald downgraded shares of Boeing to a "neutral" 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 given a Sell rating to the stock. According to data from MarketBeat, Boeing presently has a consensus rating of "Moderate Buy" and a consensus price target of $272.58.

Trending Headlines about Boeing

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

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.

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