Buffalo Business & Estate Services Ltd. Buys 31,897 Shares of The Boeing Company $BA

Key Points

• Buffalo Business & Estate Services increased its Boeing stake by 439.2% in the first quarter, buying 31,897 additional shares to bring its total to 39,160 shares worth about $7.79 million.
• Boeing reported better-than-expected quarterly results, with EPS of ($0.20) versus the expected ($0.68) loss and revenue of $22.22 billion, up 14% year over year.
• Analyst sentiment remains mostly positive, with a Moderate Buy consensus and an average price target of $262.32; meanwhile, Boeing director Bradley D. Tilden recently bought 1,370 shares.

Buffalo Business & Estate Services Ltd. grew its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 439.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,160 shares of the aircraft producer's stock after buying an additional 31,897 shares during the period. Boeing accounts for 1.1% of Buffalo Business & Estate Services Ltd.'s portfolio, making the stock its 18th biggest holding. Buffalo Business & Estate Services Ltd.'s holdings in Boeing were worth $7,794,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its stake in shares of Boeing by 41.1% in the third quarter. Russell Investments Group Ltd. now owns 223,824 shares of the aircraft producer's stock worth $48,316,000 after acquiring an additional 65,216 shares during the period. Fisher Asset Management LLC raised its stake in Boeing by 3.3% during the 3rd quarter. Fisher Asset Management LLC now owns 5,505,040 shares of the aircraft producer's stock valued at $1,188,153,000 after purchasing an additional 177,597 shares during the period. Princeton Capital Management LLC lifted its holdings in Boeing by 78.3% in the 4th 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 in the last quarter. Rakuten Investment Management Inc. lifted its holdings in Boeing by 502.3% in the 4th quarter. Rakuten Investment Management Inc. now owns 103,099 shares of the aircraft producer's stock worth $22,398,000 after purchasing an additional 85,982 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new position in Boeing in the 4th quarter worth approximately $55,787,000. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Performance

NYSE BA opened at $220.93 on Tuesday. 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 business has a 50 day simple moving average of $224.24 and a two-hundred day simple moving average of $223.18. The stock has a market capitalization of $174.16 billion, a PE ratio of 107.25 and a beta of 1.19.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $22.22 billion for the quarter, compared to analysts' expectations of $22.15 billion. The firm's revenue was up 14.0% on a year-over-year basis. During the same period last year, the company earned ($0.49) earnings per share. On average, research analysts predict that The Boeing Company will post -0.15 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Citigroup increased 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. Morgan Stanley upped their target price on shares of Boeing from $245.00 to $250.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 23rd. Tigress Financial raised their target price on shares of Boeing from $290.00 to $295.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Weiss Ratings downgraded shares of Boeing from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, April 24th. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of Boeing in a research note on Wednesday, March 4th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $262.32.

Insiders Place Their Bets

In other Boeing news, Director Bradley D. Tilden purchased 1,370 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average price of $218.50 per share, with a total value of $299,345.00. Following the completion of the purchase, the director directly owned 1,370 shares in the company, valued at $299,345. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.10% of the company's stock.

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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