Castleark Management LLC Has $10.59 Million Stock Holdings in The Boeing Company $BA

Key Points

• Castleark Management LLC dramatically increased its Boeing stake by 1,334.4% in the fourth quarter, ending with 48,770 shares worth about $10.59 million.
• Several other institutional investors also added to Boeing positions, and overall 64.82% of the stock is owned by institutions and hedge funds.
• Wall Street sentiment remains constructive: Boeing has a Moderate Buy rating with an average price target of $262.32, while recent earnings beat expectations on both EPS and revenue.

Castleark Management LLC raised its position in The Boeing Company (NYSE:BA - Free Report) by 1,334.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,770 shares of the aircraft producer's stock after buying an additional 45,370 shares during the quarter. Castleark Management LLC's holdings in Boeing were worth $10,589,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Livet Wealth LLC acquired a new position in Boeing in the 4th quarter valued at $474,000. Advisors Asset Management Inc. grew its holdings in Boeing by 33.4% in the 4th quarter. Advisors Asset Management Inc. now owns 23,888 shares of the aircraft producer's stock valued at $5,187,000 after buying an additional 5,982 shares in the last quarter. Empire Financial Management Company LLC grew its holdings in Boeing by 66.0% in the 4th quarter. Empire Financial Management Company LLC now owns 46,229 shares of the aircraft producer's stock valued at $10,037,000 after buying an additional 18,379 shares in the last quarter. Douglass Winthrop Advisors LLC grew its holdings in Boeing by 5.0% in the 4th quarter. Douglass Winthrop Advisors LLC now owns 4,745 shares of the aircraft producer's stock valued at $1,030,000 after buying an additional 225 shares in the last quarter. Finally, Laurel Oak Wealth Management LLC acquired a new position in Boeing in the 4th quarter valued at $676,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Wolfe Research reissued an "outperform" rating and set a $275.00 target price on shares of Boeing in a report on Thursday, April 23rd. Tigress Financial increased their target price on Boeing from $290.00 to $295.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Citigroup increased their target price on Boeing from $256.00 to $260.00 and gave the stock a "buy" rating in a report on Monday, May 18th. Wells Fargo & Company assumed coverage on Boeing in a report on Wednesday, April 1st. They set an "overweight" rating and a $250.00 target price on the stock. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Boeing in a report on Wednesday, March 4th. Two equities 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 assigned a Sell rating to the company. Based on data from MarketBeat, Boeing currently has an average rating of "Moderate Buy" and an average price target of $262.32.

Trending Headlines about Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing’s commercial delivery surge is helping drive free cash flow and supporting a recovery in the company’s balance sheet. Boeing’s Unseen Rebound: Why the Headlines Are Wrong
• Positive Sentiment: Boeing’s Global Services business posted higher quarterly revenue, a record $33 billion backlog, and new contract wins, suggesting a growing recurring-growth engine. Can Boeing's Global Services Business Become a Bigger Growth Driver?
• Positive Sentiment: Boeing announced a $2.35 billion investment in its Wichita campus along with other operational updates, which investors may view as a commitment to capacity and long-term execution. Boeing (BA) Stock Trades Up, Here Is Why
• Neutral Sentiment: DP Aircraft I secured up to $92 million in long-term financing for Boeing 787s ahead of LOT leases, which is supportive for 787-related demand but is a smaller indirect catalyst for Boeing stock. DP Aircraft I locks in US$92m long-term financing for Boeing 787s ahead of LOT leases
• Negative Sentiment: Boeing was recently pressured by a broader pullback, with the stock previously dipping more than the market as investors remained sensitive to execution and valuation concerns. Why Boeing (BA) Dipped More Than Broader Market Today

Boeing Price Performance

Boeing stock opened at $219.23 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.35 and a debt-to-equity ratio of 7.42. The company has a market capitalization of $172.82 billion, a PE ratio of 106.42 and a beta of 1.19. The Boeing Company has a 12 month low of $176.77 and a 12 month high of $254.35. The stock has a 50-day moving average price of $222.78 and a two-hundred day moving average price of $221.38.

Boeing (NYSE:BA - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) EPS for the quarter, beating the consensus estimate 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 for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.49) earnings per share. Analysts expect that The Boeing Company will post -0.15 EPS for the current year.

Insider Buying and Selling

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. Corporate 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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