Asahi Life Asset Management CO. LTD. Takes Position in The Boeing Company $BA

Key Points

• Asahi Life Asset Management purchased 10,268 Boeing shares worth approximately $2.2 million during the second quarter, making Boeing its 21st-largest holding. Institutional investors collectively own 64.82% of Boeing’s outstanding shares.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $272.58. Recent targets range from $265 to $305.
• Boeing reported second-quarter revenue of $24.56 billion, up 8% year over year and slightly above estimates, but its adjusted loss of $0.76 per share missed expectations. Shares recently opened at $221.79.

Asahi Life Asset Management CO. LTD. purchased a new stake in shares of The Boeing Company (NYSE:BA - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 10,268 shares of the aircraft producer's stock, valued at approximately $2,223,000. Boeing accounts for about 1.3% of Asahi Life Asset Management CO. LTD.'s holdings, making the stock its 21st largest holding.

Other institutional investors also recently bought and sold shares of the company. Foresight Global Investors Inc. bought a new position in Boeing during the 2nd quarter valued at about $398,000. MSH Capital Advisors LLC bought a new stake in Boeing in the second quarter worth about $610,000. Bell & Brown Wealth Advisors LLC bought a new stake in Boeing in the second quarter worth about $7,982,000. Strategic Equity Management purchased a new position in shares of Boeing during the second quarter valued at approximately $272,000. Finally, Northcape Wealth Management LLC purchased a new position in shares of Boeing during the second quarter valued at approximately $3,639,000. 64.82% of the stock is currently owned by institutional investors.

Trending Headlines about Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing is pursuing an internal turnaround under CEO Kelly Ortberg, emphasizing engineering discipline, production quality and long-term aircraft development rather than short-term Wall Street targets. The strategy could improve execution and restore customer and investor confidence, although results will take time. How Kelly Ortberg is rebuilding Boeing from the inside out
• Positive Sentiment: Wright-Patterson Air Force Base awarded Boeing a $75 million contract for Air Force One spare parts, providing incremental support for the company’s defense and government-services business. Boeing $75 million Air Force One parts contract
• Positive Sentiment: Boeing and Lockheed Martin’s United Launch Alliance reportedly completed a $1.5 billion private bond offering—three times the initial target—suggesting strong investor demand for ULA financing and continued interest in its space business. Boeing Q2 earnings context

Analyst Ratings Changes

BA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on Boeing from $270.00 to $290.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. Royal Bank Of Canada cut their price objective on Boeing from $275.00 to $265.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 29th. Sanford C. Bernstein began coverage on Boeing in a research note on Tuesday, August 11th. They issued an "outperform" rating on the stock. Tigress Financial lifted their target price on Boeing from $295.00 to $305.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Finally, William Blair reissued an "outperform" rating on shares of Boeing in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $272.58.

Boeing Price Performance

Shares of BA stock opened at $221.79 on Thursday. The Boeing Company has a twelve month low of $176.77 and a twelve month high of $254.35. The stock has a market capitalization of $175.30 billion, a price-to-earnings ratio of 96.01 and a beta of 1.21. The stock has a fifty day simple moving average of $222.33 and a two-hundred day simple moving average of $222.44. The company has a current ratio of 1.14, a quick ratio of 0.33 and a debt-to-equity ratio of 6.77.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share (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 firm had revenue of $24.56 billion for the quarter, compared to the consensus estimate of $24.26 billion. During the same period in the previous year, the company posted ($1.24) EPS. Boeing's quarterly revenue was up 8.0% compared to the same quarter last year. On average, analysts predict that The Boeing Company will post -0.87 EPS for the current fiscal 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.

Want to see what other hedge funds are holding BA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Boeing Company (NYSE:BA - Free Report).

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