Cibc World Market Inc. Buys Shares of 233,302 The Boeing Company $BA

Key Points

• CIBC World Markets bought 233,302 Boeing shares worth approximately $50.5 million in the second quarter, while institutional investors collectively own 64.82% of Boeing.
• Boeing reported quarterly revenue of $24.56 billion, up 8% year over year, but its adjusted loss of $0.76 per share missed analyst expectations of a $0.34 loss.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $272.58, though labor negotiations involving 17,000 engineers and technical workers pose a potential strike and production risk.

Cibc World Market Inc. purchased a new position in The Boeing Company (NYSE:BA - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 233,302 shares of the aircraft producer's stock, valued at approximately $50,503,000.

Several other large investors have also bought and sold shares of BA. Vanguard Group Inc. lifted its position in shares of Boeing by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 70,989,438 shares of the aircraft producer's stock valued at $15,413,227,000 after acquiring an additional 3,460,021 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Boeing during the 2nd quarter valued at about $747,763,000. Deutsche Bank AG purchased a new position in Boeing during the second quarter valued at approximately $539,456,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Boeing in the second quarter worth $441,997,000. Finally, Alyeska Investment Group L.P. increased its position in Boeing by 245.7% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,252,450 shares of the aircraft producer's stock worth $489,052,000 after purchasing an additional 1,600,909 shares during the last quarter. Institutional investors own 64.82% of the company's stock.

Boeing Price Performance

Boeing stock opened at $214.20 on Monday. The company has a 50 day moving average of $222.11 and a 200-day moving average of $222.18. The Boeing Company has a twelve month low of $176.77 and a twelve month high of $254.35. The stock has a market capitalization of $169.30 billion, a PE ratio of 92.73 and a beta of 1.21. The company has a quick ratio of 0.33, a current ratio of 1.14 and a debt-to-equity ratio of 6.77.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.42). Boeing had a net margin of 2.41% and a negative return on equity of 346.82%. The business had revenue of $24.56 billion during the quarter, compared to analyst estimates of $24.26 billion. During the same quarter last year, the business earned ($1.24) earnings per share. Boeing's revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities research analysts anticipate that The Boeing Company will post -0.87 EPS for the current fiscal year.

Key Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: The U.S. State Department approved a potential $4.5 billion sale of KC-46A tanker aircraft to Qatar. The approval supports Boeing’s defense backlog, although the transaction still requires finalization. US approves potential $4.5B sale of Boeing KC-46A tankers to Qatar
• Positive Sentiment: Boeing’s agreement to sell or transfer businesses including Wisk Aero, Insitu and SkyGrid to Archer Aviation, while taking a strategic stake in Archer, could generate cash and provide exposure to autonomous and electric aviation markets. However, the deal’s financial impact and execution remain uncertain. Archer Aviation bets big on becoming more than an air taxi company
• Neutral Sentiment: AerCap delivered its tenth Boeing 787 to Grupo Aeromexico, marking its 100th 787 delivery from its direct order book. The milestone signals continuing customer demand for the Dreamliner but is not a new Boeing order or immediate revenue catalyst. AerCap Holdings compared with Boeing
• Negative Sentiment: Voting ends on Boeing’s proposed four-year contract with the Society of Professional Engineering Employees in Aerospace, representing roughly 17,000 engineers and technical workers. A rejection could authorize a strike after the current contracts expire on October 6, raising concerns about production, certification and delivery schedules. Results were expected Friday afternoon. Boeing white-collar union contract vote results expected today
• Negative Sentiment: The labor uncertainty is outweighing recent operating progress, including higher commercial deliveries and efforts to increase 737 production. Investors appear concerned that a work stoppage could interrupt Boeing’s recovery. Boeing slides as labor vote uncertainty outweighs operational progress
• Negative Sentiment: Boeing is advancing repairs to Air Force One, but window replacement and interior work could threaten the program’s schedule, adding another execution risk to the company’s defense business. Boeing advances Air Force One repairs

Analysts Set New Price Targets

Several research firms have weighed in on BA. Tigress Financial raised their target price on Boeing from $295.00 to $305.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Cantor Fitzgerald lowered shares of Boeing to a "neutral" rating in a research report on Tuesday, August 11th. UBS Group started coverage on Boeing in a research report on Tuesday, August 11th. They set a "buy" rating on the stock. Royal Bank Of Canada dropped their price target on shares of Boeing from $275.00 to $265.00 and set an "outperform" rating for the company in a research report on Wednesday, July 29th. Finally, Wolfe Research lowered shares of Boeing from an "outperform" rating to a "hold" rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Boeing currently has an average rating of "Moderate Buy" and an average target price of $272.58.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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