AlphaQuest LLC Raises Position in The Boeing Company $BA

Key Points

• AlphaQuest LLC sharply increased its Boeing stake in the fourth quarter, boosting holdings by 3,375.8% to 7,195 shares worth about $1.56 million. Other institutional investors also added to Boeing, and hedge funds and institutions now own 64.82% of the stock.
• Boeing shares have been supported by operational progress, including FAA approval to raise 737 MAX production from 42 to 47 jets per month. The FAA also expects certification of the 737 MAX 7 this summer and the MAX 10 before year-end, which could aid future deliveries.
• Recent results and sentiment remain mixed: Boeing beat earnings and revenue expectations in its latest quarter, but analysts still project a small full-year loss. The stock also has notable insider buying and a consensus analyst rating of “Moderate Buy” with a $259.80 price target.

AlphaQuest LLC grew its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 3,375.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,195 shares of the aircraft producer's stock after purchasing an additional 6,988 shares during the quarter. AlphaQuest LLC's holdings in Boeing were worth $1,562,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in BA. Measured Wealth Private Client Group LLC purchased a new position in shares of Boeing in the 3rd quarter worth $25,000. Ares Financial Consulting LLC purchased a new position in shares of Boeing in the 4th quarter worth $26,000. Strategic Wealth Advisors LLC purchased a new position in shares of Boeing in the 4th quarter worth $27,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Boeing in the 4th quarter worth $28,000. Finally, American National Bank & Trust raised its position in Boeing by 124.2% in the fourth quarter. American National Bank & Trust now owns 139 shares of the aircraft producer's stock valued at $30,000 after purchasing an additional 77 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Up 2.5%

Shares of Boeing stock opened at $224.36 on Thursday. The business has a 50-day moving average of $218.03 and a 200-day moving average of $219.21. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.18 and a quick ratio of 0.35. The company has a market capitalization of $176.86 billion, a PE ratio of 108.91 and a beta of 1.21. The Boeing Company has a 1-year low of $176.77 and a 1-year high of $254.35.

Boeing (NYSE:BA - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.48. The business had revenue of $22.22 billion for the quarter, compared to analyst estimates of $22.15 billion. The firm's revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.49) earnings per share. As a group, equities analysts forecast that The Boeing Company will post -0.15 EPS for the current fiscal year.

Boeing News Summary

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing CEO Kelly Ortberg said the company completed an FAA capstone review, allowing 737 MAX production to increase from 42 jets a month to 47. Investors view this as a key step toward normalizing output and improving cash flow. Article Title
• Positive Sentiment: The FAA also said it expects Boeing’s 737 MAX 7 to be certified this summer and the MAX 10 before year-end, which could further support future production and deliveries. Article Title
• Positive Sentiment: Ortberg also said Boeing aims to eventually balance 737 inventory at 52 aircraft per month, signaling confidence that the narrowbody business can keep ramping beyond the newly approved rate. Article Title
• Positive Sentiment: Reports that China recently committed to purchase 200 Boeing aircraft add another demand tailwind, helping improve the outlook for commercial orders. Article Title
• Neutral Sentiment: Boeing’s presentation at the Bernstein Strategic Decisions Conference kept the stock in focus, but the main market-moving information was the production and certification progress rather than the transcript itself. Article Title
• Negative Sentiment: Recent headlines about Boeing losing some NASA and Italy-related business and competition-related losses to SpaceX are a reminder that the company still faces competitive and contract risk, even as near-term sentiment improves. Article Title

Insider Transactions at Boeing

In other news, Director Mortimer J. Buckley purchased 2,230 shares of the firm's stock in a transaction that occurred on Tuesday, March 3rd. The stock was acquired at an average cost of $224.20 per share, for a total transaction of $499,966.00. Following the completion of the purchase, the director owned 4,430 shares of the company's stock, valued at approximately $993,206. This trade represents a 101.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bradley D. Tilden purchased 1,370 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average price of $218.50 per share, with a total value of $299,345.00. Following the completion of 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 SEC filing for this purchase provides additional information. 0.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. Jefferies Financial Group reissued a "buy" rating on shares of Boeing in a research report on Wednesday, March 4th. JPMorgan Chase & Co. raised their price objective on Boeing from $245.00 to $270.00 and gave the company an "overweight" rating in a research report on Wednesday, January 28th. Sanford C. Bernstein reissued an "outperform" rating on shares of Boeing in a research report on Wednesday, January 28th. Royal Bank Of Canada raised their price objective on Boeing from $265.00 to $275.00 and gave the company an "outperform" rating in a research report on Wednesday, January 28th. Finally, UBS Group raised their price objective on Boeing from $275.00 to $285.00 and gave the company a "buy" rating in a research report on Wednesday, January 28th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Boeing has an average rating of "Moderate Buy" and a consensus price target of $259.80.

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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