Baird Financial Group Inc. Purchases 14,006 Shares of The Boeing Company $BA

Key Points

• Baird Financial Group increased its Boeing stake by 3.8% in the second quarter, purchasing 14,006 additional shares and bringing its holdings to 379,443 shares valued at approximately $82.1 million.
• Other institutional investors also expanded their Boeing positions, with institutional ownership reaching 64.82% of the company’s stock.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $272.58, despite Boeing’s quarterly adjusted loss of $0.76 per share, which missed expectations.

Baird Financial Group Inc. lifted its holdings in The Boeing Company (NYSE:BA - Free Report) by 3.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 379,443 shares of the aircraft producer's stock after purchasing an additional 14,006 shares during the quarter. Baird Financial Group Inc.'s holdings in Boeing were worth $82,138,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Princeton Capital Management LLC increased its stake in Boeing by 78.3% in the fourth quarter. Princeton Capital Management LLC now owns 12,249 shares of the aircraft producer's stock worth $2,660,000 after purchasing an additional 5,381 shares during the period. Rakuten Investment Management Inc. boosted its stake in shares of Boeing by 502.3% during the fourth quarter. Rakuten Investment Management Inc. now owns 103,099 shares of the aircraft producer's stock valued at $22,398,000 after purchasing an additional 85,982 shares during the period. Louisiana State Employees Retirement System bought a new position in shares of Boeing in the first quarter worth about $7,961,000. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Boeing by 103.8% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 11,240 shares of the aircraft producer's stock worth $2,237,000 after purchasing an additional 5,726 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in Boeing by 47.5% in the 4th quarter. Deutsche Bank AG now owns 2,376,243 shares of the aircraft producer's stock worth $515,930,000 after buying an additional 765,197 shares during the period. Institutional investors own 64.82% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on BA. William Blair reiterated an "outperform" rating on shares of Boeing in a report on Tuesday, July 28th. Barclays lowered shares of Boeing from an "equal weight" rating to an "underweight" rating in a research report on Tuesday, August 11th. Robert W. Baird set a $300.00 price target on shares of Boeing in a research note on Wednesday, July 29th. Sanford C. Bernstein initiated coverage on Boeing in a report on Tuesday, August 11th. They issued an "outperform" rating for the company. Finally, Tigress Financial increased their price objective on Boeing from $295.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $272.58.

Trending Headlines about Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing’s free cash flow has turned positive, an important milestone in its turnaround. Investors will be watching whether stronger cash generation can be sustained through higher aircraft deliveries, improved production efficiency, and reduced working-capital needs. Boeing's free cash flow turned positive
• Positive Sentiment: Commentary from Jim Cramer points to a potential manufacturing recovery benefiting aerospace companies, including Boeing. That outlook could support BA if production and delivery momentum improve. Jim Cramer discusses manufacturing recovery
• Neutral Sentiment: Archer Aviation’s reported acquisition of Boeing-related businesses Wisk Aero, Insitu, and SkyGrid could help Boeing monetize noncore assets and sharpen its strategic focus, although it may also reduce exposure to potentially valuable future-mobility businesses. Archer Aviation acquisition of Boeing businesses
• Negative Sentiment: Boeing delivered 51 aircraft in August, down from 57 a year earlier, while 787 Dreamliner handovers declined. The softer widebody performance is significant because accelerating deliveries are central to Boeing’s cash-flow recovery and efforts to reduce its substantial debt burden. Boeing August deliveries dip as 787 handovers fall
• Negative Sentiment: A fatal Miami cargo-plane crash involving a 1994-built Boeing 767 operated by 21 Air has increased attention on Boeing aircraft and freighter safety. The investigation is ongoing, and no cause has been established, but additional scrutiny could create reputational or regulatory risk. Boeing 767 Miami runway accident

Boeing Stock Performance

Shares of BA stock opened at $206.62 on Thursday. The firm has a market cap of $163.30 billion, a price-to-earnings ratio of 89.44 and a beta of 1.21. The Boeing Company has a 52-week low of $176.77 and a 52-week high of $254.35. The company has a quick ratio of 0.33, a current ratio of 1.14 and a debt-to-equity ratio of 6.77. The company's 50 day moving average is $219.23 and its 200 day moving average is $219.46.

Boeing (NYSE:BA - Get Free Report) last posted its earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.42). The company had revenue of $24.56 billion for the quarter, compared to analysts' expectations of $24.26 billion. Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.The firm's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.24) EPS. On average, sell-side analysts anticipate that The Boeing Company will post -0.87 EPS for the current fiscal year.

Boeing Company Profile

The Boeing Company is a global aerospace company that designs, manufactures and services commercial airplanes, military aircraft, satellites, space systems and other aerospace products. Its principal business areas include commercial airplanes, defense and security, and aftermarket services that support aircraft operations throughout their life cycles.

Boeing's commercial portfolio includes the 737, 767, 777 and 787 families of jetliners, while its defense and space operations provide products and services for the U.S.

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.