Engineers Gate Manager LP Raises Stock Position in The Boeing Company $BA

Key Points

• Engineers Gate Manager LP increased its Boeing stake by 310.7% in the fourth quarter, buying 74,254 more shares and bringing its total holdings to 98,151 shares worth about $21.3 million.
• Boeing reported stronger-than-expected quarterly results, posting an EPS loss of $0.20 versus analyst estimates for a $0.68 loss, while revenue rose 14% year over year to $22.22 billion.
• Analyst sentiment remains mixed but generally positive, with Boeing carrying a “Moderate Buy” consensus and an average price target of $262.32, even as some firms recently lowered ratings.

Engineers Gate Manager LP boosted its holdings in The Boeing Company (NYSE:BA - Free Report) by 310.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 98,151 shares of the aircraft producer's stock after buying an additional 74,254 shares during the period. Engineers Gate Manager LP's holdings in Boeing were worth $21,311,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of BA. Revolve Wealth Partners LLC purchased a new stake in Boeing in the 4th quarter worth $201,000. Sivia Capital Partners LLC increased its stake in Boeing by 16.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,529 shares of the aircraft producer's stock worth $320,000 after buying an additional 217 shares in the last quarter. AXA S.A. grew its position in shares of Boeing by 1,225.7% during the second quarter. AXA S.A. now owns 34,655 shares of the aircraft producer's stock valued at $7,261,000 after purchasing an additional 32,041 shares in the last quarter. Ieq Capital LLC grew its position in shares of Boeing by 243.8% during the second quarter. Ieq Capital LLC now owns 33,485 shares of the aircraft producer's stock valued at $7,016,000 after purchasing an additional 23,746 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of Boeing by 4.2% during the second quarter. Alliancebernstein L.P. now owns 1,334,451 shares of the aircraft producer's stock valued at $279,608,000 after purchasing an additional 53,736 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company's stock.

Boeing Stock Down 0.8%

Shares of NYSE:BA opened at $225.59 on Thursday. 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 Boeing Company has a 12 month low of $176.77 and a 12 month high of $254.35. The company has a 50-day moving average price of $223.85 and a 200 day moving average price of $222.57. The company has a market cap of $177.83 billion, a price-to-earnings ratio of 109.51 and a beta of 1.19.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) EPS for the quarter, beating analysts' consensus estimates of ($0.68) by $0.48. The business had revenue of $22.22 billion during the quarter, compared to the consensus estimate of $22.15 billion. During the same period in the previous year, the business posted ($0.49) EPS. The firm's revenue was up 14.0% on a year-over-year basis. As a group, equities research analysts predict that The Boeing Company will post -0.15 earnings per share for the current year.

Insider Activity at Boeing

In other Boeing news, Director Bradley D. Tilden purchased 1,370 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average price of $218.50 per share, with a total value of $299,345.00. Following the acquisition, the director owned 1,370 shares in the company, valued at approximately $299,345. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.10% of the company's stock.

Boeing News Roundup

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing is benefiting from a broader risk-on move after the U.S.-Iran peace deal reopened the Strait of Hormuz, easing geopolitical worries and lifting aerospace shares. Investors are also reacting to reports that BA may be undervalued, with some analysts still seeing room for the stock to rise. Boeing (BA) Stock Could Be 16.4% Undervalued After Peace Deal Lifts Sentiment
• Positive Sentiment: New coverage highlighted Boeing’s defense business as a potential growth driver, pointing to 21% defense revenue growth, $9 billion in orders, and an $86 billion backlog. That reinforces the view that Boeing’s recovery may be increasingly supported by military and government contracts. Can Defense Contracts Help Fuel Boeing's Next Phase of Growth?
• Neutral Sentiment: Boeing also got a fresh nod from analysts, with reports calling the stock a “Moderate Buy.” That supports sentiment, but it is not a near-term catalyst by itself. The Boeing Company NYSE: BA Given Average Recommendation of "Moderate Buy" by Analysts
• Negative Sentiment: Investor attention is still on the deadly B-52 crash at Edwards Air Force Base, where Boeing employees were among the victims. Early reports suggest the aircraft plunged rapidly before impact, and the incident could lead to scrutiny of Boeing’s defense programs even though the investigation is ongoing. B-52 on test flight plunged at nearly a mile a minute before crashing, early data shows - PBS

Analyst Ratings Changes

A number of brokerages have recently weighed in on BA. Weiss Ratings lowered Boeing from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, April 24th. Wells Fargo & Company began coverage on Boeing in a research report on Wednesday, April 1st. They set an "overweight" rating and a $250.00 price objective for the company. Wolfe Research restated an "outperform" rating and set a $275.00 price objective on shares of Boeing in a research report on Thursday, April 23rd. Jefferies Financial Group restated a "buy" rating on shares of Boeing in a research report on Wednesday, March 4th. Finally, Morgan Stanley raised their price objective on Boeing from $245.00 to $250.00 and gave the company an "equal weight" rating in a research report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $262.32.

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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