California State Teachers Retirement System Has $235.41 Million Position in The Boeing Company $BA

Key Points

• California State Teachers Retirement System reduced its Boeing stake by 2.1% in the first quarter, but still held 1.18 million shares worth approximately $235.4 million. Institutional investors and hedge funds own 64.82% of Boeing.
• Analysts maintain a generally positive outlook, with Boeing receiving a consensus “Moderate Buy” rating and an average price target of $261.89.
• Boeing’s second-quarter revenue rose 8% year over year to $24.56 billion, while deliveries and backlog improved; however, the company missed earnings estimates, recorded a $280 million Air Force One charge, and faces additional 737 MAX quality-control concerns.

California State Teachers Retirement System cut its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 2.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,182,774 shares of the aircraft producer's stock after selling 25,207 shares during the quarter. California State Teachers Retirement System owned 0.15% of Boeing worth $235,408,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC acquired a new stake in Boeing in the third quarter valued at approximately $25,000. Strive Financial Group LLC bought a new stake in shares of Boeing during the fourth quarter worth $25,000. Ares Financial Consulting LLC acquired a new position in shares of Boeing during the fourth quarter worth $26,000. CrossGen Wealth LLC acquired a new position in shares of Boeing during the fourth quarter worth $26,000. Finally, Strategic Wealth Advisors LLC bought a new position in shares of Boeing in the 4th quarter valued at $27,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BA shares. Wells Fargo & Company initiated coverage on Boeing in a research report on Wednesday, April 1st. They set an "overweight" rating and a $250.00 price objective on the stock. Weiss Ratings reiterated a "sell (d+)" rating on shares of Boeing in a research report on Tuesday, July 21st. Wolfe Research reissued an "outperform" rating and set a $275.00 price target on shares of Boeing in a research note on Thursday, April 23rd. Tigress Financial boosted their price target on Boeing from $290.00 to $295.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Finally, Citigroup upped their price objective on Boeing from $256.00 to $260.00 and gave the company a "buy" rating in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Boeing currently has a consensus rating of "Moderate Buy" and an average target price of $261.89.

Trending Headlines about Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing reported second-quarter revenue of $24.6 billion, up 8% year over year and ahead of Wall Street expectations. Commercial aircraft deliveries rose to 171, the company’s strongest quarterly total since 2018, supporting the broader turnaround story. Boeing Q2 revenue tops estimates as jet deliveries climb, cash turns positive
• Positive Sentiment: Operating cash flow reached $1.4 billion and free cash flow was approximately $631 million. Management maintained its full-year free-cash-flow outlook of $1 billion to $3 billion, while CFO Brian West described a return to $10 billion in annual free cash flow as attainable over time. Boeing posts larger-than-expected Q2 loss as Air Force One costs rise
• Positive Sentiment: Total backlog reached a record $715.3 billion, including more than 6,200 commercial aircraft, providing substantial long-term revenue visibility. Boeing's Q2 loss wider than estimated, revenues increase
• Neutral Sentiment: Investors appeared willing to look through the earnings miss because the $428 million net loss was narrower than the $612 million loss in the prior-year quarter and production is recovering. Shares also received favorable commentary from market commentator Jim Cramer, though such commentary is not a fundamental catalyst. Jim Cramer says Boeing stock is ready to run
• Negative Sentiment: Core loss per share was $0.76, substantially worse than the roughly $0.28 analyst consensus. Boeing recorded a further $280 million charge on the delayed Air Force One replacement program, which pushed its Defense, Space & Security segment into an operating loss and highlighted continuing fixed-price contract risk. Boeing posts bigger loss than expected as Air Force One costs weigh
• Negative Sentiment: The FAA said airlines should inspect seat installations on 453 Boeing 737 MAX aircraft after identifying improperly installed seats. The estimated cost is modest, but the issue adds another quality-control concern for Boeing and its regulators. FAA says seats on hundreds of Boeing 737 MAX were incorrectly installed

Boeing Price Performance

Shares of NYSE:BA opened at $222.34 on Wednesday. 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. The firm has a market cap of $175.27 billion, a PE ratio of 107.93 and a beta of 1.21. The firm's fifty day moving average is $219.32 and its 200-day moving average is $224.16.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.42). The company had revenue of $24.56 billion during the quarter, compared to analyst estimates of $24.26 billion. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the firm earned ($1.24) EPS. Sell-side analysts predict that The Boeing Company will post -0.33 earnings per share for the current year.

Insider Activity at Boeing

In related news, Director Bradley D. Tilden purchased 1,370 shares of the firm's stock in a transaction dated Wednesday, May 20th. The stock was 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 owned 1,370 shares in the company, valued at approximately $299,345. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.10% of the company's stock.

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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