Amundi Purchases 43,652 Shares of The Boeing Company $BA

Key Points

• Amundi increased its Boeing stake by 3.7% in the second quarter, acquiring 43,652 additional shares and bringing its total holdings to 1.22 million shares valued at approximately $264.7 million.
• Boeing reported quarterly revenue of $24.56 billion, up 8% year over year, but its adjusted loss of $0.76 per share missed analyst expectations of a $0.34 loss. The company’s high debt-to-equity ratio and negative return on equity remain notable risks.
• Analyst sentiment is broadly positive, with Boeing carrying a “Moderate Buy” consensus rating and an average price target of $272.58; however, ratings range from “Strong Buy” to “Sell.”

Amundi lifted its holdings in The Boeing Company (NYSE:BA - Free Report) by 3.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,222,827 shares of the aircraft producer's stock after acquiring an additional 43,652 shares during the quarter. Amundi owned approximately 0.15% of Boeing worth $264,705,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. California State Teachers Retirement System grew its holdings in shares of Boeing by 20,689.6% during the second quarter. California State Teachers Retirement System now owns 245,894,334 shares of the aircraft producer's stock worth $53,228,746,000 after purchasing an additional 244,711,560 shares during the last quarter. Newport Trust Company LLC raised its holdings in shares of Boeing by 1.0% in the fourth quarter. Newport Trust Company LLC now owns 29,485,294 shares of the aircraft producer's stock valued at $6,401,847,000 after buying an additional 286,848 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Boeing by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 17,025,435 shares of the aircraft producer's stock valued at $3,679,592,000 after buying an additional 533,753 shares during the last quarter. Fisher Asset Management LLC lifted its position in Boeing by 2.5% during the 4th quarter. Fisher Asset Management LLC now owns 5,640,900 shares of the aircraft producer's stock worth $1,224,752,000 after buying an additional 135,860 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Boeing by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,370,415 shares of the aircraft producer's stock worth $948,905,000 after buying an additional 138,469 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Performance

Boeing stock opened at $212.15 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 0.33 and a debt-to-equity ratio of 6.77. The Boeing Company has a 1 year low of $176.77 and a 1 year high of $254.35. The company has a market cap of $167.68 billion, a PE ratio of 91.84 and a beta of 1.21. The company's 50-day moving average is $219.58 and its two-hundred day moving average is $219.85.

Boeing (NYSE:BA - Get Free Report) last issued its 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). Boeing had a net margin of 2.41% and a negative return on equity of 346.82%. The business had revenue of $24.56 billion during the quarter, compared to the consensus estimate of $24.26 billion. During the same period last year, the business posted ($1.24) EPS. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. Equities analysts anticipate that The Boeing Company will post -0.87 earnings per share for the current year.

Analysts Set New Price Targets

BA has been the subject of several research reports. BNP Paribas Exane upgraded shares of Boeing from an "underperform" rating to an "outperform" rating and raised their price objective for the company from $230.00 to $300.00 in a research report on Monday, August 3rd. UBS Group started coverage on shares of Boeing in a research report on Tuesday, August 11th. They set a "buy" rating on the stock. Sanford C. Bernstein began coverage on shares of Boeing in a research note on Tuesday, August 11th. They set an "outperform" rating on the stock. Citigroup lowered shares of Boeing from a "buy" rating to a "sell" rating in a report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. raised their price target on shares of Boeing from $270.00 to $290.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Boeing presently has an average rating of "Moderate Buy" and an average target price of $272.58.

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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