Amundi Lowers Position in The Boeing Company $BA

Key Points

• Amundi cut its Boeing stake by 46.1% in the first quarter, selling 1,006,789 shares and retaining 1,179,175 shares valued at approximately $234.7 million. Institutional investors collectively own 64.82% of Boeing.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $264.42; JPMorgan recently raised its target to $290. Boeing’s delivery acceleration, certification progress and substantial backlog support the bullish outlook.
• Boeing’s latest quarterly loss was larger than expected, with EPS of negative $0.76 versus the $0.34 consensus estimate. Ongoing defense-cost overruns and a FAA-flagged 737 MAX seat-quality issue remain key risks despite 8% year-over-year revenue growth.

Amundi trimmed its position in shares of The Boeing Company (NYSE:BA - Free Report) by 46.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,179,175 shares of the aircraft producer's stock after selling 1,006,789 shares during the quarter. Amundi owned 0.15% of Boeing worth $234,691,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BA. Measured Wealth Private Client Group LLC acquired a new position in Boeing during the third quarter worth $25,000. Strive Financial Group LLC acquired a new stake in Boeing in the fourth quarter valued at $25,000. Ares Financial Consulting LLC purchased a new stake in shares of Boeing during the 4th quarter worth $26,000. CrossGen Wealth LLC purchased a new stake in shares of Boeing during the 4th quarter worth $26,000. Finally, Strategic Wealth Advisors LLC acquired a new position in shares of Boeing during the 4th quarter worth $27,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Bradley D. Tilden bought 1,370 shares of Boeing stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average price of $218.50 per share, with a total value of $299,345.00. Following the purchase, the director owned 1,370 shares in the company, valued at $299,345. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BA. Btg Pactual set a $260.00 price target on shares of Boeing in a report on Tuesday, July 14th. Citigroup upped their target price on shares of Boeing from $256.00 to $260.00 and gave the stock a "buy" rating in a research report on Monday, May 18th. JPMorgan Chase & Co. increased their target price on shares of Boeing from $270.00 to $290.00 and gave the company an "overweight" rating in a report on Wednesday. Weiss Ratings reiterated a "sell (d+)" rating on shares of Boeing in a research report on Tuesday, July 21st. Finally, UBS Group reissued a "buy" rating on shares of Boeing in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $264.42.

Key Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing’s delivery pace is accelerating, a key driver of future revenue and cash generation. Higher 737 and 787 output, combined with a record $715 billion backlog, supports the bullish view that production improvements could translate into substantially stronger free cash flow. Boeing delivery pace and free cash flow
• Positive Sentiment: Certification progress and restored FAA self-certification authority for the 737 MAX and 787 represent important operational milestones that could help Boeing increase output and reduce delivery bottlenecks. BA Q2 earnings call highlights
• Positive Sentiment: Analyst sentiment remains supportive: JPMorgan raised its Boeing price target to $290 and maintained an “overweight” rating, while RBC retained an “outperform” rating with a $265 target. Boeing analyst price targets
• Neutral Sentiment: National Airlines’ delivery of a third Boeing 777-200 freighter highlights continued customer demand for Boeing aircraft, although the announcement has limited direct near-term financial impact. National Airlines Boeing 777 freighter delivery
• Negative Sentiment: Boeing still reported a larger-than-expected quarterly loss, partly because of rising Air Force One program costs, underscoring continuing execution problems in its defense business. Boeing second-quarter loss
• Negative Sentiment: The FAA flagged a quality issue affecting seats on hundreds of 737 MAX jets, creating potential inspection, repair and reputational risks. Boeing also faces a longer-term competitive threat from JetZero’s government-backed blended-wing aircraft program. FAA Boeing MAX seat quality issue

Boeing Stock Performance

NYSE:BA opened at $221.13 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 6.77. The company has a market capitalization of $174.77 billion, a P/E ratio of 95.73 and a beta of 1.21. The firm has a 50-day moving average price of $219.19 and a two-hundred day moving average price of $223.98. The Boeing Company has a twelve month low of $176.77 and a twelve month high of $254.35.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.42). The business had revenue of $24.56 billion during the quarter, compared to analysts' expectations of $24.26 billion. Boeing had a net margin of 2.41% and a negative return on equity of 346.82%. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the company earned ($1.24) EPS. As a group, research analysts expect that The Boeing Company will post -0.33 earnings per share 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.

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