Cane Capital Partners LLC Decreases Stock Position in The Boeing Company $BA

Key Points

• Cane Capital Partners cut its Boeing position by 23.9% in the first quarter, selling 9,490 shares and leaving it with 30,176 shares worth about $6.0 million.
• Several other institutional investors also adjusted their Boeing holdings, while 64.82% of the stock remains owned by institutions overall.
• Boeing’s outlook is mixed: analysts currently rate it Moderate Buy with a consensus price target of $261.61, but the company still faces operational and program risks alongside recent positive news from China orders and leasing deals.

Cane Capital Partners LLC reduced its position in The Boeing Company (NYSE:BA - Free Report) by 23.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 30,176 shares of the aircraft producer's stock after selling 9,490 shares during the period. Boeing accounts for approximately 2.6% of Cane Capital Partners LLC's portfolio, making the stock its 11th largest holding. Cane Capital Partners LLC's holdings in Boeing were worth $6,006,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vertrix Wealth Management LLC bought a new position in Boeing in the 1st quarter worth about $1,202,000. Financial Life Planners bought a new position in shares of Boeing in the first quarter worth $73,000. IFM Investors Pty Ltd raised its position in shares of Boeing by 6.7% in the first quarter. IFM Investors Pty Ltd now owns 73,054 shares of the aircraft producer's stock worth $14,540,000 after buying an additional 4,578 shares in the last quarter. Redwood Wealth Management Group LLC raised its holdings in shares of Boeing by 21.3% in the 1st quarter. Redwood Wealth Management Group LLC now owns 1,963 shares of the aircraft producer's stock valued at $391,000 after acquiring an additional 345 shares in the last quarter. Finally, Key Financial Inc lifted its position in Boeing by 12.3% during the first quarter. Key Financial Inc now owns 911 shares of the aircraft producer's stock valued at $181,000 after purchasing an additional 100 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

Insider Transactions at Boeing

In other Boeing news, Director Bradley D. Tilden bought 1,370 shares of Boeing stock in a transaction on Wednesday, May 20th. The stock was acquired at an average cost of $218.50 per share, with a total value 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 represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.10% of the company's stock.

Wall Street Analyst Weigh In

BA has been the subject of several research analyst reports. Tigress Financial lifted their price target on Boeing from $290.00 to $295.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Jefferies Financial Group restated a "buy" rating on shares of Boeing in a report on Wednesday, March 4th. Morgan Stanley upped their price objective on shares of Boeing from $245.00 to $250.00 and gave the stock an "equal weight" rating in a report on Thursday, April 23rd. Wells Fargo & Company started coverage on Boeing in a research report on Wednesday, April 1st. They issued an "overweight" rating and a $250.00 target price for the company. Finally, Weiss Ratings cut shares of Boeing from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Boeing presently has a consensus rating of "Moderate Buy" and a consensus price target of $261.61.

Key Headlines Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing’s return to China’s commercial market with a seven-aircraft freighter order from China Southern could support future backlog growth and signals renewed access to a key aviation market. Boeing (BA) Returns To China With Seven Plane Cargo Order From China Southern
• Positive Sentiment: China Development Bank Financial Leasing plans to add two Boeing 787-9s in a leaseback deal, reinforcing demand for Boeing widebody aircraft and helping sentiment around leasing activity. China Development Bank Financial Leasing to Add Two Boeing 787-9s in Leaseback Deal
• Positive Sentiment: Second-quarter results are set for July 28, giving investors a near-term event to assess cash flow, deliveries, and margin trends after a volatile period for the company. Boeing to Release Second Quarter Results on July 28
• Positive Sentiment: Coverage noting that Boeing and Airbus have secured roughly $80 billion in orders and are nearing pre-crisis delivery levels suggests strengthening industry demand, which could support sentiment toward BA. Boeing And Airbus: $80 Billion In Orders, Deliveries Near Pre-Crisis Levels
• Neutral Sentiment: Commentary about Boeing founder William Boeing in a broader article has little direct impact on near-term fundamentals. Fortune 500 founders’ children of immigrants
• Negative Sentiment: An unplanned IT outage disrupted computer systems and factory work from Washington to Florida, highlighting execution and production-risk issues that can pressure Boeing shares. Boeing Says ‘Unplanned IT Outage’ Hit Computer Systems as Factory Work From Washington to Florida was Disrupted
• Negative Sentiment: Reporting that parachute anomalies remain a risk for Starliner underscores ongoing program concerns, which may weigh on sentiment despite the stock’s recent strength. Parachute Anomalies Remain a Risk… Boeing Stock NYSE: BA Notches Up Despite Starliner Delay
• Negative Sentiment: Coverage of the still-missing Boeing 727 is mostly historical and reputational, but it adds little positive support for the stock. 23 Years Later, a Boeing 727 That Took off in Angola Is Still Missing
• Negative Sentiment: Contract talks beginning July 1 could create labor-related uncertainty, especially given Boeing’s recent history of difficult negotiations. Contract Talks Start July 1, Boeing Stock NYSE: BA Notches Up

Boeing Stock Performance

Shares of NYSE BA opened at $218.81 on Thursday. The Boeing Company has a 52-week low of $176.77 and a 52-week high of $254.35. The company has a quick ratio of 0.35, a current ratio of 1.18 and a debt-to-equity ratio of 7.42. The firm's 50-day moving average price is $223.57 and its 200-day moving average price is $223.95. The company has a market cap of $172.48 billion, a PE ratio of 106.22 and a beta of 1.21.

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

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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