Engineers Gate Manager LP Grows Holdings in The Boeing Company $BA

Key Points

• Engineers Gate Manager LP increased its Boeing stake by 71% in the second quarter, acquiring 116,818 additional shares for a total of 281,264 shares valued at approximately $60.9 million. Institutional investors collectively own 64.82% of Boeing’s stock.
• Analyst sentiment remains favorable, with Boeing receiving a “Moderate Buy” consensus rating and an average price target of $272.58; JPMorgan recently raised its target to $290.
• Boeing shares opened at $210.80, while the company reported quarterly revenue of $24.56 billion but missed earnings expectations with a loss of $0.76 per share. Its highly leveraged balance sheet and negative return on equity remain significant risks.

Engineers Gate Manager LP lifted its stake in The Boeing Company (NYSE:BA - Free Report) by 71.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 281,264 shares of the aircraft producer's stock after buying an additional 116,818 shares during the quarter. Boeing makes up about 0.8% of Engineers Gate Manager LP's investment portfolio, making the stock its 9th largest position. Engineers Gate Manager LP's holdings in Boeing were worth $60,885,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the stock. Princeton Capital Management LLC lifted its holdings in shares of Boeing by 78.3% in the 4th quarter. Princeton Capital Management LLC now owns 12,249 shares of the aircraft producer's stock valued at $2,660,000 after acquiring an additional 5,381 shares during the last quarter. Rakuten Investment Management Inc. grew its position in Boeing by 502.3% in the fourth quarter. Rakuten Investment Management Inc. now owns 103,099 shares of the aircraft producer's stock worth $22,398,000 after acquiring an additional 85,982 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in Boeing during the first quarter worth approximately $7,961,000. Patriot Financial Group Insurance Agency LLC raised its position in Boeing by 103.8% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 11,240 shares of the aircraft producer's stock valued at $2,237,000 after purchasing an additional 5,726 shares during the period. Finally, Deutsche Bank AG raised its position in Boeing by 47.5% during the fourth quarter. Deutsche Bank AG now owns 2,376,243 shares of the aircraft producer's stock valued at $515,930,000 after purchasing an additional 765,197 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BA. UBS Group began coverage on Boeing in a research note on Tuesday, August 11th. They issued a "buy" rating for the company. William Blair restated an "outperform" rating on shares of Boeing in a report on Tuesday, July 28th. JPMorgan Chase & Co. raised their price target on Boeing from $270.00 to $290.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Robert W. Baird set a $300.00 price objective on shares of Boeing in a research note on Wednesday, July 29th. Finally, Sanford C. Bernstein assumed coverage on shares of Boeing in a research note on Tuesday, August 11th. They set an "outperform" rating for the company. One investment 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 assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $272.58.

More Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing’s stock rose despite August deliveries falling to 51 aircraft from 57 a year earlier. Investors appeared to look past the 11% decline, viewing the weakness as concentrated in 787 Dreamliner handovers and expecting future deliveries to support cash generation. Boeing Rises Even as August Deliveries Fall 11%
• Positive Sentiment: Boeing’s free cash flow has turned positive, an important milestone for its highly leveraged turnaround. The improvement could support the stock if the company can sustain production, complete aircraft deliveries, and avoid further cash-consuming quality or development problems. Boeing's Free Cash Flow Turned Positive
• Positive Sentiment: An $880 million U.S. Navy contract highlights Boeing’s defense backlog and provides support for its government business. The report that President Donald Trump’s team bought BA shares on the same day as the contract announcement may attract attention, but it does not change Boeing’s underlying earnings outlook. President Trump Bought BA Stock the Same Day Boeing Won an $880M U.S. Navy Contract
• Neutral Sentiment: Archer Aviation’s planned purchase of Boeing businesses including Wisk Aero, Insitu, and SkyGrid indicates Boeing may be reshaping its portfolio and monetizing non-core assets. The transaction could improve focus and liquidity, but the longer-term effect on BA depends on the price and terms. Archer Aviation Is Buying Boeing's Wisk Aero, Insitu, and SkyGrid
• Negative Sentiment: The fatal Miami cargo-plane crash involving a 1994-built Boeing 767 converted to a freighter is adding safety-related pressure to the broader Boeing narrative. The aircraft was operated by 21 Air, and investigators have not established Boeing responsibility, but the inquiry could weigh on sentiment toward BA. Everything to Know About the Boeing Jet That Overshot a Miami Runway

Boeing Trading Down 0.7%

Shares of NYSE BA opened at $210.80 on Wednesday. The Boeing Company has a fifty-two week low of $176.77 and a fifty-two week high of $254.35. The company has a debt-to-equity ratio of 6.77, a quick ratio of 0.33 and a current ratio of 1.14. The company has a market cap of $166.61 billion, a price-to-earnings ratio of 91.26 and a beta of 1.21. The business's 50 day moving average price is $219.48 and its 200-day moving average price is $219.65.

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). The business had revenue of $24.56 billion for the quarter, compared to analysts' expectations of $24.26 billion. Boeing had a net margin of 2.41% and a negative return on equity of 346.82%. Boeing's revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.24) EPS. On average, sell-side analysts expect that The Boeing Company will post -0.87 earnings per share for the current year.

Boeing Company Profile

The Boeing Company is a global aerospace company that designs, manufactures and services commercial airplanes, military aircraft, satellites, space systems and other aerospace products. Its principal business areas include commercial airplanes, defense and security, and aftermarket services that support aircraft operations throughout their life cycles.

Boeing's commercial portfolio includes the 737, 767, 777 and 787 families of jetliners, while its defense and space operations provide products and services for the U.S.

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