Ally Financial Inc. Buys New Shares in The Boeing Company $BA

Ally Financial Inc. purchased a new stake in The Boeing Company (NYSE:BA - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 35,000 shares of the aircraft producer's stock, valued at approximately $7,576,000. Boeing accounts for about 1.0% of Ally Financial Inc.'s investment portfolio, making the stock its 21st largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Cibc World Market Inc. acquired a new position in shares of Boeing in the 2nd quarter valued at $50,503,000. Osbon Capital Management LLC acquired a new stake in Boeing during the second quarter valued at approximately $108,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Boeing in the 2nd quarter valued at approximately $9,153,000. Leigh Baldwin & CO. LLC acquired a new position in shares of Boeing in the 2nd quarter worth approximately $272,000. Finally, Osmosis Investment Management UK Ltd acquired a new position in shares of Boeing in the 2nd quarter worth approximately $3,125,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing News Roundup

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 Stock Performance

Boeing stock opened at $214.20 on Monday. The stock has a 50-day simple moving average of $222.11 and a 200 day simple moving average of $222.18. The stock has a market capitalization of $169.30 billion, a price-to-earnings ratio of 92.73 and a beta of 1.21. The company has a quick ratio of 0.33, a current ratio of 1.14 and a debt-to-equity ratio of 6.77. The Boeing Company has a 12-month low of $176.77 and a 12-month high of $254.35.

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

Wall Street Analysts Forecast Growth

BA has been the topic of several recent analyst reports. Cantor Fitzgerald lowered Boeing to a "neutral" rating in a research note on Tuesday, August 11th. Citigroup lowered Boeing from a "buy" rating to a "sell" rating in a research note 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. Tigress Financial upped their target price on shares of Boeing from $295.00 to $305.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. increased their target price on shares of Boeing from $270.00 to $290.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Boeing currently has a consensus rating of "Moderate Buy" and a consensus target price of $272.58.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source