Granite Investment Partners LLC Buys 15,901 Shares of The Boeing Company $BA

Key Points

• Granite Investment Partners LLC increased its Boeing stake by 35.2% in the first quarter, buying 15,901 additional shares to bring its total to 61,048 shares worth about $12.15 million.
• Boeing continues to attract significant institutional interest, with large investors such as Vanguard, Alyeska, Janus Henderson, and Viking also boosting their positions; institutional ownership stands at 64.82%.
• The company posted a smaller-than-expected loss in its latest quarter, while analysts remain generally constructive overall, with a consensus rating of Moderate Buy and an average price target of $261.61.

Granite Investment Partners LLC raised its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 35.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,048 shares of the aircraft producer's stock after purchasing an additional 15,901 shares during the period. Granite Investment Partners LLC's holdings in Boeing were worth $12,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of 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 buying an additional 3,460,021 shares during the period. Alyeska Investment Group L.P. raised its holdings in shares of Boeing by 245.7% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,252,450 shares of the aircraft producer's stock worth $489,052,000 after buying an additional 1,600,909 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Boeing by 43.1% during the 4th quarter. Janus Henderson Group PLC now owns 3,907,876 shares of the aircraft producer's stock worth $840,204,000 after acquiring an additional 1,176,074 shares during the last quarter. Viking Global Investors LP lifted its stake in shares of Boeing by 31.3% during the 4th quarter. Viking Global Investors LP now owns 3,953,087 shares of the aircraft producer's stock worth $858,294,000 after acquiring an additional 942,536 shares during the last quarter. Finally, Diamant Asset Management Inc. boosted its holdings in Boeing by 19,623.0% during the 1st quarter. Diamant Asset Management Inc. now owns 872,348 shares of the aircraft producer's stock valued at $173,623,000 after acquiring an additional 867,925 shares during the period. 64.82% of the stock is owned by institutional investors.

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 that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $218.50 per share, for a total transaction of $299,345.00. Following the completion of the acquisition, the director directly owned 1,370 shares of the company's stock, valued at $299,345. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.10% of the stock is owned by insiders.

Boeing Trading Down 3.0%

BA opened at $224.67 on Thursday. The company has a quick ratio of 0.35, a current ratio of 1.18 and a debt-to-equity ratio of 7.42. The stock's fifty day moving average is $223.46 and its two-hundred day moving average is $224.74. The company has a market capitalization of $177.11 billion, a P/E ratio of 109.06 and a beta of 1.21. The Boeing Company has a 52 week low of $176.77 and a 52 week high of $254.35.

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, topping the consensus estimate of ($0.68) by $0.48. The firm had revenue of $22.22 billion during the quarter, compared to analysts' expectations of $22.15 billion. During the same quarter in the prior year, the company posted ($0.49) earnings per share. Boeing's quarterly revenue was up 14.0% compared to the same quarter last year. Analysts forecast that The Boeing Company will post -0.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

BA has been the topic of a number of recent analyst reports. Weiss Ratings lowered Boeing from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, April 24th. Tigress Financial boosted their target price on shares of Boeing from $290.00 to $295.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Morgan Stanley raised their price target on shares of Boeing from $245.00 to $250.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 23rd. Citigroup lifted their price objective on shares of Boeing from $256.00 to $260.00 and gave the company a "buy" rating in a report on Monday, May 18th. Finally, Wolfe Research reissued an "outperform" rating and issued a $275.00 price objective on shares of Boeing in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $261.61.

Key Headlines Impacting Boeing

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

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.

Want to see what other hedge funds are holding BA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Boeing Company (NYSE:BA - Free Report).

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.