BI Asset Management Fondsmaeglerselskab A S Buys 44,842 Shares of The Boeing Company $BA

Key Points

• BI Asset Management Fondsmaeglerselskab A S more than doubled its Boeing stake in the fourth quarter, buying 44,842 additional shares and bringing its total holdings to 87,581 shares worth about $19.0 million.
• Boeing reported better-than-expected quarterly results, posting a smaller-than-expected loss of $0.20 per share on revenue of $22.22 billion, with revenue up 14% year over year.
• The stock remains under pressure despite positive operational updates, as Boeing faces safety and quality-control concerns after a German investigation into a 787 nose-gear collapse in Frankfurt and broader market weakness.

BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 104.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,581 shares of the aircraft producer's stock after buying an additional 44,842 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Boeing were worth $19,016,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Purus Wealth Management LLC increased its position in shares of Boeing by 3.6% during the fourth quarter. Purus Wealth Management LLC now owns 1,177 shares of the aircraft producer's stock valued at $256,000 after buying an additional 41 shares during the period. West Wealth Group LLC grew its holdings in shares of Boeing by 0.6% during the fourth quarter. West Wealth Group LLC now owns 7,279 shares of the aircraft producer's stock worth $1,581,000 after purchasing an additional 42 shares in the last quarter. First Heartland Consultants Inc. grew its holdings in shares of Boeing by 1.1% during the fourth quarter. First Heartland Consultants Inc. now owns 4,062 shares of the aircraft producer's stock worth $882,000 after purchasing an additional 43 shares in the last quarter. Global Financial Private Client LLC grew its holdings in shares of Boeing by 1.1% during the fourth quarter. Global Financial Private Client LLC now owns 4,025 shares of the aircraft producer's stock worth $874,000 after purchasing an additional 44 shares in the last quarter. Finally, North Star Investment Management Corp. grew its holdings in shares of Boeing by 1.6% during the fourth 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 in the last quarter. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Down 0.8%

Shares of BA opened at $215.72 on Friday. 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 stock has a 50 day simple moving average of $220.80 and a two-hundred day simple moving average of $220.31. The firm has a market cap of $170.05 billion, a P/E ratio of 104.72 and a beta of 1.19.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.48. The company had revenue of $22.22 billion during the quarter, compared to the consensus estimate of $22.15 billion. During the same quarter in the previous year, the firm posted ($0.49) EPS. The business's revenue for the quarter was up 14.0% compared to the same quarter last year. On average, analysts forecast that The Boeing Company will post -0.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Bradley D. Tilden acquired 1,370 shares of the stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of $218.50 per share, for a total transaction of $299,345.00. Following the completion of the transaction, the director owned 1,370 shares of the company's stock, valued at $299,345. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.10% of the company's stock.

Boeing News Roundup

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing said it will start building 737 MAX jets on a new final assembly line in Everett, Washington, on July 6, a sign that the company is getting closer to ramping production and potentially lifting output toward 52 jets per month. Boeing to start 737 Max production on new assembly line July 6, CEO says
• Positive Sentiment: Boeing delivered the first two 787 Dreamliners to Riyadh Air, reinforcing steady commercial aircraft demand and giving investors another concrete delivery milestone. Boeing Delivers Riyadh Air's First Two 787 Dreamliner Jets
• Positive Sentiment: Reports that China may consider additional aircraft purchases, along with interest from airlines such as Qantas and Singapore Airlines in wide-body orders, are supporting the view that Boeing could benefit from stronger future demand. China Considering Further Aircraft Purchases, Boeing Stock NYSE: BA Jumps
• Neutral Sentiment: Analyst commentary continues to highlight Boeing’s improving delivery momentum and large commercial backlog, which supports the long-term outlook but does not appear to be a direct catalyst today. Can Boeing's Commercial Aircraft Delivery Momentum Lift Performance?
• Negative Sentiment: A German investigation has been opened into the Boeing 787 nose-gear collapse in Frankfurt, and reports say several workers were injured, adding to safety concerns around the 787 program. German investigators launch probe into Boeing 787 incident in Frankfurt
• Negative Sentiment: Separate reports on the Frankfurt 787 incident and the resulting injuries are likely weighing on sentiment because they revive concerns about Boeing’s quality-control and reliability record. Several injured in Boeing 787 nose-gear collapse in Frankfurt
• Negative Sentiment: Even with the production and delivery updates, Boeing shares are also being pressured by a broader market rotation away from riskier names, helping explain why the stock is under pressure despite the company-specific positives. What's Going On With Boeing Stock Friday?

Analysts Set New Price Targets

BA has been the subject of several recent analyst reports. Wells Fargo & Company initiated coverage on Boeing in a report on Wednesday, April 1st. They set an "overweight" rating and a $250.00 price objective for the company. Tigress Financial boosted their price objective on Boeing from $290.00 to $295.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Weiss Ratings lowered Boeing from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, April 24th. Jefferies Financial Group reissued a "buy" rating on shares of Boeing in a report on Wednesday, March 4th. Finally, Citigroup boosted their price objective on Boeing from $256.00 to $260.00 and gave the stock a "buy" rating in a report on Monday, May 18th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $259.80.

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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