Bank of New York Mellon Corp Has $784.56 Million Stock Position in The Boeing Company $BA

Key Points

• Bank of New York Mellon increased its Boeing stake by 2.5% in the fourth quarter, ending with 3.61 million shares valued at about $784.6 million.
• Boeing also saw continued institutional interest overall, with hedge funds and other institutions owning 64.82% of the company and several smaller investors opening new positions.
• Analysts remain mixed but generally constructive: Boeing has a Moderate Buy consensus with an average target price of $259.80, even as some firms raised targets and one downgraded the stock.

Bank of New York Mellon Corp lifted its position in shares of The Boeing Company (NYSE:BA - Free Report) by 2.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,613,462 shares of the aircraft producer's stock after buying an additional 89,106 shares during the quarter. Bank of New York Mellon Corp owned about 0.46% of Boeing worth $784,555,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Measured Wealth Private Client Group LLC acquired a new position in Boeing in the third quarter valued at about $25,000. Ares Financial Consulting LLC acquired a new position in Boeing in the fourth quarter valued at about $26,000. Strategic Wealth Advisors LLC acquired a new position in Boeing in the fourth quarter valued at about $27,000. Kohmann Bosshard Financial Services LLC acquired a new position in Boeing in the fourth quarter valued at about $28,000. Finally, American National Bank & Trust raised its stake in Boeing by 124.2% in the fourth quarter. American National Bank & Trust now owns 139 shares of the aircraft producer's stock valued at $30,000 after purchasing an additional 77 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company's stock.

Trending Headlines about Boeing

Here are the key news stories impacting Boeing this week:

• Negative Sentiment: NASA is reportedly reconsidering Boeing’s role after the Starliner debacle, renewing scrutiny of Boeing’s reliability in space contracts and adding to investor concern about future aerospace business. “Under Review”: Boeing Stock NYSE: BA Slides as NASA Reconsiders
• Negative Sentiment: Another headline warned that Boeing’s 777X orders may be at risk, raising fears that certification delays could lead airlines to reconsider or reduce commitments for the long-delayed aircraft. Boeing Stock NYSE: BA Plunges, 777X Orders May be at Risk
• Positive Sentiment: Norwegian Air Shuttle agreed to buy an additional Boeing 737-800, which is a modest vote of confidence in Boeing’s narrow-body fleet and ongoing airline demand. Norwegian Air Shuttle Buys Additional Boeing 737-800 to Strengthen Fleet Ownership
• Neutral Sentiment: Several analyst-style articles highlighted that Boeing has outperformed its industry over the past six months and that its turnaround is underway, but they also noted lingering weak spots and that much of the recovery may already be reflected in the share price. BA Stock Outperforms Industry in 6 Months: Should You Stay Invested? Boeing: The Comeback Is Real, But Weak Spots Remain Boeing's Turnaround Is Real, But The Stock Already Knows It

Insider Buying and Selling at Boeing

In other news, Director Bradley D. Tilden purchased 1,370 shares of Boeing stock in a transaction dated Wednesday, May 20th. The shares were bought at an average cost 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 in the company, valued at approximately $299,345. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.10% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Tigress Financial boosted their price target on Boeing from $290.00 to $295.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Wolfe Research reaffirmed an "outperform" rating and issued a $275.00 price target on shares of Boeing in a research note on Thursday, April 23rd. Weiss Ratings downgraded Boeing from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, April 24th. Jefferies Financial Group reissued a "buy" rating on shares of Boeing in a research note on Wednesday, March 4th. Finally, Morgan Stanley boosted their target price on Boeing from $245.00 to $250.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Boeing has an average rating of "Moderate Buy" and an average target price of $259.80.

Boeing Stock Performance

NYSE:BA opened at $210.89 on Thursday. The stock has a market cap of $166.24 billion, a P/E ratio of 102.37 and a beta of 1.19. The company has a current ratio of 1.18, a quick ratio of 0.35 and a debt-to-equity ratio of 7.42. The stock's 50-day moving average is $220.05 and its 200-day moving average is $220.18. The Boeing Company has a 1-year low of $176.77 and a 1-year high of $254.35.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.48. The firm 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% on a year-over-year basis. During the same quarter last year, the firm posted ($0.49) earnings per share. Equities research analysts anticipate that The Boeing Company will post -0.15 earnings per share for the current 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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