Great Hill Capital LLC Sells 4,416 Shares of The Boeing Company $BA

Key Points

• Great Hill Capital LLC reduced its Boeing stake by 18.4% in the first quarter, selling 4,416 shares and leaving it with 19,615 shares worth about $3.9 million.
• Boeing is seeing mixed near-term catalysts: it started a fourth 737 MAX final assembly line in Everett and got a new defense contract from Denmark, but an unplanned IT outage disrupted commercial and defense production workflows.
• Analysts remain mostly constructive on BA, with a consensus “Moderate Buy” and price target around $261.61, while the company recently beat quarterly EPS and revenue expectations despite still posting a loss.

Great Hill Capital LLC lessened its stake in The Boeing Company (NYSE:BA - Free Report) by 18.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,615 shares of the aircraft producer's stock after selling 4,416 shares during the quarter. Boeing makes up 0.3% of Great Hill Capital LLC's holdings, making the stock its 22nd biggest position. Great Hill Capital LLC's holdings in Boeing were worth $3,904,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Purus Wealth Management LLC grew its position in shares of Boeing by 3.6% in the 4th quarter. Purus Wealth Management LLC now owns 1,177 shares of the aircraft producer's stock valued at $256,000 after acquiring an additional 41 shares during the period. West Wealth Group LLC increased its stake in shares of Boeing by 0.6% during the 4th quarter. West Wealth Group LLC now owns 7,279 shares of the aircraft producer's stock worth $1,581,000 after purchasing an additional 42 shares during the last quarter. First Heartland Consultants Inc. raised its holdings in shares of Boeing by 1.1% in the 4th quarter. First Heartland Consultants Inc. now owns 4,062 shares of the aircraft producer's stock valued at $882,000 after purchasing an additional 43 shares during the period. XML Financial LLC lifted its stake in Boeing by 0.5% in the 4th quarter. XML Financial LLC now owns 8,905 shares of the aircraft producer's stock valued at $1,933,000 after purchasing an additional 43 shares during the last quarter. Finally, Global Financial Private Client LLC lifted its stake in Boeing by 1.1% in the 4th quarter. Global Financial Private Client LLC now owns 4,025 shares of the aircraft producer's stock valued at $874,000 after purchasing an additional 44 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing began operating a fourth 737 MAX final assembly line in Everett, a move aimed at lifting narrow-body output and meeting strong airline demand. Boeing's new 737 assembly line starts moving in Everett
• Positive Sentiment: Reports of strong June delivery numbers and the new 737 MAX line helped boost sentiment, reinforcing expectations for improved production throughput. Boeing (BA) Stock Trades Up, Here Is Why
• Positive Sentiment: Denmark said it will buy two Boeing P-8A Poseidon maritime patrol aircraft, adding another defense contract win for the company. Denmark to buy two maritime patrol aircraft from Boeing, defence ministry says
• Neutral Sentiment: Several articles noted broader bullish analyst views on Boeing, which can support the stock but did not include a major new catalyst. Is It Worth Investing in Boeing (BA) Based on Wall Street's Bullish Views?
• Negative Sentiment: Boeing also disclosed an unplanned IT outage that disrupted commercial and defense production workflows, raising near-term execution concerns even though it was not believed to be a cyberattack. Boeing (BA) Hit By IT Outage That Disrupted Commercial And Defense Production

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BA. Wells Fargo & Company started coverage on Boeing in a research report on Wednesday, April 1st. They set an "overweight" rating and a $250.00 price target on the stock. Tigress Financial boosted their target price on Boeing from $290.00 to $295.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Weiss Ratings downgraded Boeing from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, April 24th. Citigroup lifted their price objective on shares of Boeing from $256.00 to $260.00 and gave the stock a "buy" rating in a research report on Monday, May 18th. Finally, Wolfe Research reiterated an "outperform" rating and issued a $275.00 price objective on shares of Boeing in a report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Boeing has an average rating of "Moderate Buy" and a consensus price target of $261.61.

Boeing Trading Down 0.6%

BA stock opened at $233.15 on Tuesday. The Boeing Company has a 52 week low of $176.77 and a 52 week high of $254.35. 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 company's 50-day simple moving average is $223.60 and its 200 day simple moving average is $224.25. The company has a market capitalization of $183.79 billion, a PE ratio of 113.22 and a beta of 1.21.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share (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 prior year, the firm earned ($0.49) EPS. The business's revenue for the quarter was up 14.0% on a year-over-year basis. As a group, sell-side analysts anticipate that The Boeing Company will post -0.15 earnings per share for the current year.

Insider Activity

In related news, Director Bradley D. Tilden purchased 1,370 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average cost of $218.50 per share, for a total transaction of $299,345.00. Following the completion of the purchase, the director owned 1,370 shares in the company, valued at approximately $299,345. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.10% of the company's stock.

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.

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