Evolve Private Wealth LLC Buys Shares of 6,597 The Boeing Company $BA

Key Points

• Evolve Private Wealth LLC purchased 6,597 Boeing shares worth approximately $1.43 million, while institutional investors collectively own 64.82% of the company.
• Analyst sentiment remains mixed but leans positive: Boeing has an average “Moderate Buy” rating and a consensus price target of $272.58, despite recent downgrades from Citigroup and Cantor Fitzgerald.
• Boeing reported quarterly revenue of $24.56 billion, up 8% year over year, but missed earnings expectations with a loss of $0.76 per share. Shares opened at $214.20, while labor negotiations involving roughly 17,000 engineers pose a potential strike and production risk.

Evolve Private Wealth LLC purchased a new position in shares of The Boeing Company (NYSE:BA - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 6,597 shares of the aircraft producer's stock, valued at approximately $1,428,000.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Boeing by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 70,989,438 shares of the aircraft producer's stock valued at $15,413,227,000 after purchasing an additional 3,460,021 shares in the last quarter. Newport Trust Company LLC increased its position in Boeing by 1.0% in the fourth quarter. Newport Trust Company LLC now owns 29,485,294 shares of the aircraft producer's stock worth $6,401,847,000 after buying an additional 286,848 shares in the last quarter. Geode Capital Management LLC increased its position in Boeing by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 17,025,435 shares of the aircraft producer's stock worth $3,679,592,000 after buying an additional 533,753 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Boeing by 2.5% in the fourth quarter. Fisher Asset Management LLC now owns 5,640,900 shares of the aircraft producer's stock worth $1,224,752,000 after buying an additional 135,860 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Boeing by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,370,415 shares of the aircraft producer's stock worth $948,905,000 after buying an additional 138,469 shares during the period. Institutional investors own 64.82% of the company's stock.

Wall Street Analysts Forecast Growth

BA has been the subject of several analyst reports. UBS Group started coverage on shares of Boeing in a report on Tuesday, August 11th. They issued a "buy" rating for the company. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Boeing in a report on Tuesday, July 21st. BNP Paribas Exane upgraded shares of Boeing from an "underperform" rating to an "outperform" rating and upped their price target for the stock from $230.00 to $300.00 in a research report on Monday, August 3rd. Citigroup cut shares of Boeing from a "buy" rating to a "sell" rating in a research note on Tuesday, August 11th. Finally, Cantor Fitzgerald cut shares of Boeing to a "neutral" rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Boeing presently has an average rating of "Moderate Buy" and an average price target of $272.58.

Boeing Trading Down 0.4%

BA stock opened at $214.20 on Friday. The Boeing Company has a 1-year low of $176.77 and a 1-year high of $254.35. The company has a debt-to-equity ratio of 6.77, a current ratio of 1.14 and a quick ratio of 0.33. The company has a market capitalization of $169.30 billion, a price-to-earnings ratio of 92.73 and a beta of 1.21. The business has a 50 day simple moving average of $222.11 and a two-hundred day simple moving average of $222.26.

Boeing (NYSE:BA - Get Free Report) last announced 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 company had revenue of $24.56 billion for the quarter, compared to analysts' expectations of $24.26 billion. During the same period last year, the business earned ($1.24) earnings per share. The company's quarterly revenue was up 8.0% compared to the same quarter last year. Research analysts anticipate that The Boeing Company will post -0.87 EPS for the current fiscal year.

Key Headlines Impacting Boeing

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

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source