Crossmark Global Holdings Inc. Trims Stock Holdings in The Boeing Company $BA

Key Points

• Crossmark Global Holdings cut its Boeing stake by 32.6% in the fourth quarter, selling 5,009 shares and ending with 10,338 shares valued at about $2.25 million.
• Boeing remains heavily held by institutions, with 64.82% of shares owned by institutional investors and hedge funds; several large firms increased positions during the period.
• The company’s latest earnings showed improvement, with Boeing reporting a smaller-than-expected loss of $0.20 per share on $22.22 billion in revenue, topping analyst estimates and marking 14% year-over-year revenue growth.

Crossmark Global Holdings Inc. reduced its position in The Boeing Company (NYSE:BA - Free Report) by 32.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,338 shares of the aircraft producer's stock after selling 5,009 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Boeing were worth $2,245,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Fisher Asset Management LLC lifted its holdings in shares of Boeing by 3.3% during the third quarter. Fisher Asset Management LLC now owns 5,505,040 shares of the aircraft producer's stock worth $1,188,153,000 after purchasing an additional 177,597 shares during the period. Russell Investments Group Ltd. increased its stake in Boeing by 41.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 223,824 shares of the aircraft producer's stock valued at $48,316,000 after buying an additional 65,216 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in Boeing by 0.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,026,896 shares of the aircraft producer's stock valued at $437,465,000 after buying an additional 11,968 shares during the period. Xcel Wealth Management LLC raised its position in Boeing by 12.1% during the 3rd quarter. Xcel Wealth Management LLC now owns 49,230 shares of the aircraft producer's stock worth $10,625,000 after buying an additional 5,327 shares during the last quarter. Finally, Granite Investment Partners LLC raised its position in Boeing by 1,984.0% during the 3rd quarter. Granite Investment Partners LLC now owns 31,448 shares of the aircraft producer's stock worth $6,787,000 after buying an additional 29,939 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Price Performance

Shares of NYSE:BA opened at $238.12 on Tuesday. The firm has a market capitalization of $187.71 billion, a price-to-earnings ratio of 115.59 and a beta of 1.21. 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 business's 50 day simple moving average is $217.23 and its 200-day simple moving average is $218.00. The Boeing Company has a 12 month low of $176.77 and a 12 month high of $254.35.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share 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 analysts' expectations of $22.15 billion. The business's revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.49) earnings per share. As a group, equities analysts forecast that The Boeing Company will post -0.15 earnings per share for the current fiscal year.

More Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing CEO Kelly Ortberg is expected to join President Trump’s delegation to China, raising hopes for constructive trade discussions and potential aircraft sales interest from Chinese buyers. Article Title
• Positive Sentiment: The FAA approved Boeing’s protocol for safely returning MD-11 aircraft to service in the U.S. after a fatal UPS cargo crash, a sign of regulatory progress that could help Boeing’s aviation services and credibility. Article Title
• Positive Sentiment: Investor attention remains on Boeing’s improving order momentum, defense backlog growth, and aviation services demand, which are helping the stock as the company works toward a longer-term turnaround. Article Title
• Positive Sentiment: Boeing’s long-delayed 777-9 is reportedly getting closer to delivery, which could eventually ease concerns about program delays and support future commercial aircraft revenue. Article Title
• Neutral Sentiment: Coverage highlighting Boeing as one of several Dow stocks near technical buy points reflects improved market sentiment, but it is more of a trading setup than a company-specific catalyst. Article Title
• Negative Sentiment: Boeing still faces headwinds from trade tensions and possible aircraft cancellations, and a Bloomberg feature noted that the company’s comeback depends on a new plane program that remains elusive. Article Title

Insider Buying and Selling at Boeing

In other Boeing news, Director Mortimer J. Buckley acquired 2,230 shares of the firm's stock in a transaction that occurred on Tuesday, March 3rd. The shares were acquired at an average cost of $224.20 per share, for a total transaction of $499,966.00. Following the transaction, the director directly owned 4,430 shares of the company's stock, valued at approximately $993,206. This represents a 101.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Uma M. Amuluru sold 1,503 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $233.78, for a total transaction of $351,371.34. Following the completion of the sale, the executive vice president directly owned 19,015 shares in the company, valued at approximately $4,445,326.70. The trade was a 7.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on BA. Morgan Stanley lifted their target price on shares of Boeing from $245.00 to $250.00 and gave the company an "equal weight" rating in a report on Thursday, April 23rd. Citigroup cut their price target on shares of Boeing from $290.00 to $256.00 and set a "buy" rating for the company in a report on Thursday, April 2nd. Jefferies Financial Group restated a "buy" rating on shares of Boeing in a research report on Wednesday, March 4th. TD Cowen reaffirmed a "buy" rating on shares of Boeing in a report on Wednesday, January 28th. Finally, Sanford C. Bernstein reiterated an "outperform" rating on shares of Boeing in a research report on Wednesday, January 28th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Boeing presently has an average rating of "Moderate Buy" and a consensus price target of $259.60.

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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