ARS Investment Partners LLC Grows Holdings in The Boeing Company $BA

Key Points

• ARS Investment Partners LLC increased its Boeing stake by 23.4% in the first quarter, buying 37,039 additional shares and bringing its total holdings to 195,331 shares valued at about $38.9 million.
• Wall Street sentiment on Boeing remains mostly positive, with analysts citing a consensus rating of “Moderate Buy” and an average price target of $262.32, though at least one firm recently downgraded the stock to sell.
• Boeing’s latest results topped expectations: the company reported a smaller-than-expected quarterly loss of $0.20 per share and revenue of $22.22 billion, up 14% year over year.

ARS Investment Partners LLC grew its position in shares of The Boeing Company (NYSE:BA - Free Report) by 23.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 195,331 shares of the aircraft producer's stock after buying an additional 37,039 shares during the quarter. Boeing accounts for approximately 2.0% of ARS Investment Partners LLC's investment portfolio, making the stock its 19th biggest holding. ARS Investment Partners LLC's holdings in Boeing were worth $38,877,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Purus Wealth Management LLC increased its position in Boeing by 3.6% in the fourth quarter. Purus Wealth Management LLC now owns 1,177 shares of the aircraft producer's stock worth $256,000 after buying an additional 41 shares during the last quarter. West Wealth Group LLC raised its stake in shares of Boeing by 0.6% in the fourth quarter. West Wealth Group LLC now owns 7,279 shares of the aircraft producer's stock valued at $1,581,000 after buying an additional 42 shares during the period. First Heartland Consultants Inc. lifted its position in shares of Boeing by 1.1% during the 4th quarter. First Heartland Consultants Inc. now owns 4,062 shares of the aircraft producer's stock valued at $882,000 after buying an additional 43 shares during the last quarter. XML Financial LLC lifted its position in shares of Boeing by 0.5% during the 4th quarter. XML Financial LLC now owns 8,905 shares of the aircraft producer's stock valued at $1,933,000 after buying an additional 43 shares during the last quarter. Finally, Global Financial Private Client LLC grew its stake in shares of Boeing by 1.1% during the 4th quarter. Global Financial Private Client LLC now owns 4,025 shares of the aircraft producer's stock worth $874,000 after acquiring an additional 44 shares during the period. Hedge funds and other institutional investors own 64.82% of the company's stock.

Wall Street Analysts Forecast Growth

BA has been the subject of several recent research reports. Wolfe Research reissued an "outperform" rating and issued a $275.00 price objective on shares of Boeing in a report on Thursday, April 23rd. Wells Fargo & Company assumed coverage on shares of Boeing in a report on Wednesday, April 1st. They set an "overweight" rating and a $250.00 price objective on the stock. Citigroup increased 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. Weiss Ratings downgraded shares of Boeing from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, April 24th. Finally, Morgan Stanley lifted their target price on shares of Boeing from $245.00 to $250.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Boeing currently has a consensus rating of "Moderate Buy" and a consensus price target of $262.32.

Insiders Place Their Bets

In related news, Director Bradley D. Tilden bought 1,370 shares of Boeing stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $218.50 per share, with a total value of $299,345.00. Following the acquisition, the director directly owned 1,370 shares of the company's stock, valued at $299,345. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.10% of the stock is owned by insiders.

Boeing Price Performance

Boeing stock opened at $223.51 on Friday. The firm has a market capitalization of $176.19 billion, a P/E ratio of 108.50 and a beta of 1.19. The Boeing Company has a one year low of $176.77 and a one year high of $254.35. 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 business has a fifty day moving average price of $224.23 and a 200-day moving average price of $222.81.

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

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.

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