Baker Avenue Asset Management LP Cuts Position in The Boeing Company $BA

Key Points

• Baker Avenue Asset Management sharply reduced its Boeing stake by 74.2% in the fourth quarter, selling 8,876 shares and ending with 3,092 shares valued at about $671,000.
• Despite mixed sentiment from analysts, Boeing’s consensus rating remains Moderate Buy with a price target of $259.80, though Weiss Ratings recently downgraded the stock to sell.
• Recent operational and business updates have been broadly positive, including FAA progress toward higher 737 MAX production, a reported 200-plane China order, and an $854.7 million P-8A defense contract modification.

Baker Avenue Asset Management LP lessened its stake in The Boeing Company (NYSE:BA - Free Report) by 74.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,092 shares of the aircraft producer's stock after selling 8,876 shares during the quarter. Baker Avenue Asset Management LP's holdings in Boeing were worth $671,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Purus Wealth Management LLC grew its stake in Boeing by 3.6% in the 4th quarter. Purus Wealth Management LLC now owns 1,177 shares of the aircraft producer's stock valued at $256,000 after acquiring an additional 41 shares during the last quarter. West Wealth Group LLC grew its stake in Boeing by 0.6% in the 4th quarter. West Wealth Group LLC now owns 7,279 shares of the aircraft producer's stock valued at $1,581,000 after acquiring an additional 42 shares during the last quarter. First Heartland Consultants Inc. grew its stake in Boeing by 1.1% in the 4th quarter. First Heartland Consultants Inc. now owns 4,062 shares of the aircraft producer's stock valued at $882,000 after acquiring an additional 43 shares during the last quarter. Global Financial Private Client LLC grew its stake in Boeing by 1.1% in the 4th quarter. Global Financial Private Client LLC now owns 4,025 shares of the aircraft producer's stock valued at $874,000 after acquiring an additional 44 shares during the last quarter. Finally, North Star Investment Management Corp. boosted its stake in shares of Boeing by 1.6% during the 4th quarter. North Star Investment Management Corp. now owns 2,833 shares of the aircraft producer's stock worth $615,000 after purchasing an additional 44 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BA shares. Wolfe Research reaffirmed an "outperform" rating and set a $275.00 price target on shares of Boeing in a research note on Thursday, April 23rd. Jefferies Financial Group reaffirmed a "buy" rating on shares of Boeing in a research note on Wednesday, March 4th. Tigress Financial raised their price target on shares of Boeing from $290.00 to $295.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Weiss Ratings cut shares of Boeing from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, April 24th. Finally, Wells Fargo & Company started coverage on shares of Boeing in a research note on Wednesday, April 1st. They set an "overweight" rating and a $250.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $259.80.

Key Stories Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: The FAA appears to be clearing the way for Boeing to move toward a 47-per-month production rate for the 737 MAX, signaling improving confidence in the company’s manufacturing stability and certification progress. 777X in 2027? FAA Suggests So, as Boeing Stock NYSE: BA Rises
• Positive Sentiment: CEO Kelly Ortberg said the 737 production ramp is stabilizing and that certification efforts are intensifying, reinforcing the view that Boeing is making operational progress after years of setbacks. Boeing CEO says 737 production ramp is stabilizing as certification push intensifies
• Positive Sentiment: Reports that China agreed to buy 200 Boeing aircraft continue to support the stock, with management describing the deal as only an initial tranche of potentially larger orders. Boeing CEO says 200-jet China deal an 'initial tranche' with more to come
• Positive Sentiment: Boeing also won an $854.7 million contract modification for P-8A aircraft for foreign military sales, adding to its defense backlog and helping offset commercial aircraft volatility. The Boeing Company wins $854.7M modification for P-8A aircraft for FMS
• Neutral Sentiment: A broader industry note said aerospace stocks are benefiting from an aftermarket rebound, which could provide a supportive backdrop for Boeing but does not directly change company fundamentals. 3 Aerospace Stocks Ready to Ride the Aftermarket Rebound
• Neutral Sentiment: Boeing’s SkyGrid unit announced new partnerships in U-space and advanced air mobility, which expands long-term optionality but is not likely to drive near-term stock moves. Boeing’s SkyGrid Moves Into U Space And Advanced Air Mobility

Insider Activity at Boeing

In other Boeing news, Director Bradley D. Tilden purchased 1,370 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average price of $218.50 per share, for a total transaction of $299,345.00. Following the completion of the acquisition, the director owned 1,370 shares of the company's stock, valued at approximately $299,345. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mortimer J. Buckley purchased 2,230 shares of the business's stock in a transaction that occurred on Tuesday, March 3rd. The stock was acquired at an average price of $224.20 per share, for a total transaction of $499,966.00. Following the acquisition, the director directly owned 4,430 shares of the company's stock, valued at $993,206. This trade represents a 101.36% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.10% of the stock is currently owned by company insiders.

Boeing Price Performance

BA opened at $230.75 on Friday. The company's 50 day simple moving average is $218.89 and its 200 day simple moving average is $219.53. The company has a debt-to-equity ratio of 7.42, a quick ratio of 0.35 and a current ratio of 1.18. The Boeing Company has a 1 year low of $176.77 and a 1 year high of $254.35. The stock has a market capitalization of $181.90 billion, a PE ratio of 112.01 and a beta of 1.21.

Boeing (NYSE:BA - Get Free Report) last released its earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.48. The company had revenue of $22.22 billion during the quarter, compared to analyst estimates of $22.15 billion. During the same period in the prior year, the business posted ($0.49) earnings per share. Boeing's revenue was up 14.0% on a year-over-year basis. As a group, sell-side analysts expect that The Boeing Company will post -0.15 EPS for the current year.

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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