Ascentis Independent Advisors Boosts Stake in The Boeing Company $BA

Key Points

• Ascentis Independent Advisors more than doubled its Boeing stake in the first quarter, increasing holdings by 104.2% to 12,322 shares valued at about $2.45 million.
• Several other major investors also boosted their positions, and 64.82% of Boeing stock is now held by hedge funds and other institutional investors, signaling continued institutional interest.
• Boeing has generally positive Wall Street support, with an average Moderate Buy rating and a target price of $261.61, while recent operational news highlighted a new 737 MAX assembly line and stronger deliveries, alongside an IT outage that disrupted production.

Ascentis Independent Advisors grew its position in shares of The Boeing Company (NYSE:BA - Free Report) by 104.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,322 shares of the aircraft producer's stock after acquiring an additional 6,288 shares during the quarter. Ascentis Independent Advisors' holdings in Boeing were worth $2,452,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Boeing by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 70,989,438 shares of the aircraft producer's stock worth $15,413,227,000 after purchasing an additional 3,460,021 shares during the period. Alyeska Investment Group L.P. raised its holdings in Boeing by 245.7% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,252,450 shares of the aircraft producer's stock valued at $489,052,000 after buying an additional 1,600,909 shares during the period. Janus Henderson Group PLC lifted its position in Boeing by 43.1% during the fourth quarter. Janus Henderson Group PLC now owns 3,907,876 shares of the aircraft producer's stock valued at $840,204,000 after buying an additional 1,176,074 shares in the last quarter. Viking Global Investors LP lifted its position in Boeing by 31.3% during the fourth quarter. Viking Global Investors LP now owns 3,953,087 shares of the aircraft producer's stock valued at $858,294,000 after buying an additional 942,536 shares in the last quarter. Finally, Diamant Asset Management Inc. grew its stake in Boeing by 19,623.0% during the first quarter. Diamant Asset Management Inc. now owns 872,348 shares of the aircraft producer's stock worth $173,623,000 after buying an additional 867,925 shares during the period. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BA has been the subject of several recent research reports. Citigroup increased their price objective 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. Wolfe Research reaffirmed an "outperform" rating and set a $275.00 price target on shares of Boeing in a research report on Thursday, April 23rd. Morgan Stanley increased their price target on Boeing from $245.00 to $250.00 and gave the company an "equal weight" rating in a report on Thursday, April 23rd. Tigress Financial raised their price objective on Boeing from $290.00 to $295.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings cut Boeing from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $261.61.

Insider Activity

In related news, Director Bradley D. Tilden acquired 1,370 shares of Boeing stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of $218.50 per share, for a total transaction of $299,345.00. Following the purchase, the director directly owned 1,370 shares of the company's stock, valued at $299,345. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.10% of the company's stock.

Boeing News Summary

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing began operating a fourth final assembly line for the 737 MAX in Everett, a move aimed at boosting output and meeting strong aircraft demand. The additional line supports the company’s plan to raise 737 production over time. Reuters: Boeing's new 737 assembly line starts moving in Everett
• Positive Sentiment: Reports of strong June deliveries and the new 737 MAX assembly line helped lift Boeing’s stock, signaling improving operational momentum for its commercial aircraft business. Yahoo Finance: Boeing (BA) Stock Trades Up, Here Is Why
• Neutral Sentiment: Wall Street commentary continues to lean constructive on Boeing, with analysts’ bullish views potentially supporting investor sentiment, though no specific rating change was highlighted in the article list. Zacks: Is It Worth Investing in Boeing (BA) Based on Wall Street's Bullish Views?
• Negative Sentiment: Boeing also disclosed an unplanned IT outage that disrupted computer systems and temporarily affected commercial and defense production workflows, creating an operational headwind for the company. Management said it was not believed to be a cyberattack. Yahoo Finance: Boeing (BA) Hit By IT Outage That Disrupted Commercial And Defense Production

Boeing Stock Performance

NYSE:BA opened at $234.47 on Tuesday. 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 Boeing Company has a 1-year low of $176.77 and a 1-year high of $254.35. The firm has a 50-day moving average of $223.60 and a two-hundred day moving average of $224.25. The stock has a market cap of $184.83 billion, a P/E ratio of 113.82 and a beta of 1.21.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share for the quarter, beating analysts' consensus estimates 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. During the same quarter last year, the business earned ($0.49) EPS. Boeing's revenue for the quarter was up 14.0% compared to the same quarter last year. On average, research analysts expect that The Boeing Company will post -0.15 earnings per share for the current fiscal year.

Boeing 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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