First Interstate Bank Increases Stock Position in The Boeing Company $BA

Key Points

• First Interstate Bank increased its Boeing stake by 549.3% in the first quarter, ending with 6,337 shares valued at about $1.26 million.
• Other institutions also added to BA, and 64.82% of Boeing’s stock is now held by hedge funds and other institutional investors, showing continued institutional interest.
• Analysts remain broadly constructive on Boeing despite mixed ratings: the stock has a Moderate Buy consensus with an average price target of $261.61, while Boeing also recently beat quarterly EPS and revenue expectations.

First Interstate Bank raised its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 549.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,337 shares of the aircraft producer's stock after acquiring an additional 5,361 shares during the period. First Interstate Bank's holdings in Boeing were worth $1,261,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BA. Seelaus Asset Management LLC raised its holdings in shares of Boeing by 46.0% in the 1st quarter. Seelaus Asset Management LLC now owns 5,029 shares of the aircraft producer's stock valued at $1,001,000 after buying an additional 1,585 shares during the period. IAG Wealth Partners LLC boosted its holdings in Boeing by 12,332.1% during the 1st quarter. IAG Wealth Partners LLC now owns 3,481 shares of the aircraft producer's stock valued at $693,000 after acquiring an additional 3,453 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in Boeing by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 89,955 shares of the aircraft producer's stock valued at $17,904,000 after acquiring an additional 300 shares during the period. Staley Capital Advisers Inc. grew its position in Boeing by 6.3% in the 1st quarter. Staley Capital Advisers Inc. now owns 335,366 shares of the aircraft producer's stock valued at $66,748,000 after acquiring an additional 19,848 shares in the last quarter. Finally, Frank Rimerman Advisors LLC grew its position in Boeing by 5.5% in the 1st quarter. Frank Rimerman Advisors LLC now owns 5,966 shares of the aircraft producer's stock valued at $1,187,000 after acquiring an additional 311 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BA shares. Weiss Ratings lowered shares of Boeing from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, April 24th. Wells Fargo & Company initiated coverage on shares of Boeing in a report on Wednesday, April 1st. They issued an "overweight" rating and a $250.00 price objective for the company. Tigress Financial upped their target price on shares of Boeing from $290.00 to $295.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Citigroup increased their target price on shares of Boeing from $256.00 to $260.00 and gave the stock a "buy" rating in a report on Monday, May 18th. Finally, Wolfe Research reissued an "outperform" rating and issued a $275.00 price target on shares of Boeing in a research report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $261.61.

Boeing Stock Performance

Shares of Boeing stock opened at $224.67 on Thursday. The business has a 50-day simple moving average of $223.46 and a 200-day simple moving average of $224.74. The company has a debt-to-equity ratio of 7.42, a quick ratio of 0.35 and a current ratio of 1.18. The Boeing Company has a one year low of $176.77 and a one year high of $254.35. The company has a market cap of $177.11 billion, a PE ratio of 109.06 and a beta of 1.21.

Boeing (NYSE:BA - Get Free Report) last issued its earnings results 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 analyst estimates of $22.15 billion. During the same period last year, the business earned ($0.49) EPS. The firm's revenue was up 14.0% compared to the same quarter last year. On average, equities research analysts forecast that The Boeing Company will post -0.15 EPS for the current fiscal year.

More Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing’s production recovery is still intact, with 737 output stabilized and plans to ramp higher, while certification progress on the 737-7/737-10 and 777-9 supports the longer-term turnaround story. Boeing (BA) Could Be 13% Undervalued As 737 MAX Output Ramps Up
• Positive Sentiment: Denmark said it will buy two Boeing P-8A Poseidon maritime patrol aircraft, reinforcing demand for Boeing’s defense business. Denmark to buy two maritime patrol aircraft from Boeing, defence ministry says
• Positive Sentiment: Philippine Airlines is reportedly considering a widebody order that could include about 10 Boeing 787s, which would support backlog and long-term deliveries. Philippine Airlines Eyes 20 Widebody Jets Split Between Boeing and Airbus
• Neutral Sentiment: Investor attention remains elevated around Boeing, but one Zacks item was mainly a sentiment/visibility note rather than a fundamental catalyst. Investors Heavily Search The Boeing Company (BA): Here is What You Need to Know
• Negative Sentiment: Two recent 737 MAX incidents on Southwest flights have put Boeing back in the spotlight and may renew concerns about product reliability and future inspections or delays. Boeing Co. NYSE: BA
• Negative Sentiment: Boeing also faces execution risk from wiring rework, 787 delays, and Spirit AeroSystems integration costs, which could pressure cash flow if problems persist. The Boeing Company Stock

Insider Buying and Selling at Boeing

In other news, Director Bradley D. Tilden acquired 1,370 shares of the firm's stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average cost of $218.50 per share, with a total value of $299,345.00. Following the transaction, the director owned 1,370 shares in the company, valued at approximately $299,345. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.10% of the company's stock.

Boeing Company 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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