Empowered Funds LLC Sells 20,717 Shares of The Boeing Company $BA

Key Points

• Empowered Funds LLC reduced its Boeing stake by 18% in the first quarter, selling 20,717 shares and retaining 94,553 shares valued at approximately $18.8 million.
• Institutional investors own 64.82% of Boeing, while several smaller investment firms modestly increased their positions during the prior quarter.
• Boeing reported quarterly revenue of $24.56 billion, up 8% year over year and above estimates, but its $0.76 loss per share missed expectations. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $261.89.

Empowered Funds LLC lowered its position in The Boeing Company (NYSE:BA - Free Report) by 18.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 94,553 shares of the aircraft producer's stock after selling 20,717 shares during the period. Empowered Funds LLC's holdings in Boeing were worth $18,819,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Purus Wealth Management LLC grew its position in Boeing by 3.6% in the fourth quarter. Purus Wealth Management LLC now owns 1,177 shares of the aircraft producer's stock worth $256,000 after acquiring an additional 41 shares in the last quarter. West Wealth Group LLC increased its stake in shares of Boeing by 0.6% during the 4th quarter. West Wealth Group LLC now owns 7,279 shares of the aircraft producer's stock worth $1,581,000 after purchasing an additional 42 shares during the last quarter. XML Financial LLC raised its holdings in shares of Boeing by 0.5% during the 4th quarter. XML Financial LLC now owns 8,905 shares of the aircraft producer's stock valued at $1,933,000 after purchasing an additional 43 shares in the last quarter. Global Financial Private Client LLC lifted its stake in shares of Boeing by 1.1% in the 4th quarter. Global Financial Private Client LLC now owns 4,025 shares of the aircraft producer's stock valued at $874,000 after purchasing an additional 44 shares during the last quarter. Finally, North Star Investment Management Corp. lifted its stake in shares of Boeing by 1.6% in the 4th quarter. North Star Investment Management Corp. now owns 2,833 shares of the aircraft producer's stock valued at $615,000 after purchasing an additional 44 shares during the last quarter. Institutional investors own 64.82% of the company's stock.

Boeing Price Performance

NYSE BA opened at $222.34 on Wednesday. The Boeing Company has a 1 year low of $176.77 and a 1 year high of $254.35. The company has a fifty day simple moving average of $219.32 and a 200 day simple moving average of $224.16. 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 cap of $175.27 billion, a P/E ratio of 107.93 and a beta of 1.21.

Boeing (NYSE:BA - Get Free Report) last announced its earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.42). The company had revenue of $24.56 billion for the quarter, compared to analysts' expectations of $24.26 billion. Boeing's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.24) EPS. On average, sell-side analysts predict that The Boeing Company will post -0.33 EPS for the current year.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Tigress Financial upped their price objective on shares of Boeing from $290.00 to $295.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Morgan Stanley raised their target price on Boeing from $245.00 to $250.00 and gave the company an "equal weight" rating in a report on Thursday, April 23rd. William Blair reaffirmed an "outperform" rating on shares of Boeing in a research report on Tuesday. Wells Fargo & Company assumed coverage on Boeing in a research note on Wednesday, April 1st. They set an "overweight" rating and a $250.00 price target for the company. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Boeing in a report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Boeing currently has a consensus rating of "Moderate Buy" and an average price target of $261.89.

Insider Activity

In other Boeing news, Director Bradley D. Tilden acquired 1,370 shares of the company's stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average cost of $218.50 per share, for a total transaction of $299,345.00. Following the completion of the purchase, the director owned 1,370 shares of the company's stock, valued at approximately $299,345. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.10% of the company's stock.

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.