BI Asset Management Fondsmaeglerselskab A S Has $5.77 Million Position in The Boeing Company $BA

Key Points

• BI Asset Management Fondsmaeglerselskab A S cut its Boeing stake by 66.9% in the first quarter, selling 58,575 shares and leaving it with 29,006 shares valued at about $5.77 million.
• Boeing reported quarterly EPS of -$0.20, beating analyst expectations of -$0.68, while revenue came in at $22.22 billion, slightly above estimates and up 14% year over year.
• Wall Street remains generally constructive on the stock, with a Moderate Buy consensus and an average target price of $262.32, though some analysts have recently raised or lowered their views.

BI Asset Management Fondsmaeglerselskab A S lowered its stake in The Boeing Company (NYSE:BA - Free Report) by 66.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,006 shares of the aircraft producer's stock after selling 58,575 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Boeing were worth $5,773,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Boeing by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 70,989,438 shares of the aircraft producer's stock valued at $15,413,227,000 after purchasing an additional 3,460,021 shares during the period. Newport Trust Company LLC increased its stake in Boeing by 1.0% in the fourth quarter. Newport Trust Company LLC now owns 29,485,294 shares of the aircraft producer's stock valued at $6,401,847,000 after acquiring an additional 286,848 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Boeing by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 17,025,435 shares of the aircraft producer's stock worth $3,679,592,000 after buying an additional 533,753 shares during the last quarter. Fisher Asset Management LLC increased its position in Boeing by 2.5% during the 4th quarter. Fisher Asset Management LLC now owns 5,640,900 shares of the aircraft producer's stock worth $1,224,752,000 after purchasing an additional 135,860 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Boeing by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,370,415 shares of the aircraft producer's stock worth $948,905,000 after acquiring an additional 138,469 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Price Performance

BA stock opened at $220.93 on Tuesday. The firm has a market cap of $174.16 billion, a P/E ratio of 107.25 and a beta of 1.20. The firm's fifty day moving average is $224.24 and its 200 day moving average is $223.18. 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 52 week low of $176.77 and a 52 week high of $254.35.

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

Insider Transactions at Boeing

In related news, Director Bradley D. Tilden purchased 1,370 shares of the company's stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average cost of $218.50 per share, with a total value of $299,345.00. Following the transaction, the director directly owned 1,370 shares in the company, valued at $299,345. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Jefferies Financial Group reissued a "buy" rating on shares of Boeing in a research report on Wednesday, March 4th. Tigress Financial raised their price target on shares of Boeing from $290.00 to $295.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Morgan Stanley raised their price target on shares of Boeing from $245.00 to $250.00 and gave the company an "equal weight" rating in a research report on Thursday, April 23rd. Weiss Ratings downgraded shares of Boeing from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, April 24th. Finally, Citigroup upped their price objective on shares of Boeing from $256.00 to $260.00 and gave the company 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 given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $262.32.

About Boeing

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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