Hill City Capital LP Makes New $134.55 Million Investment in The Boeing Company $BA

Key Points

• Hill City Capital LP initiated a $134.55 million position in Boeing, purchasing 621,583 shares that represented 3.4% of its portfolio and approximately 0.08% of Boeing’s outstanding stock.
• Boeing reported quarterly revenue of $24.56 billion, up 8% year over year and slightly above estimates, but its adjusted loss of $0.76 per share missed expectations. Shares opened at $214.20, below their 50-day and 200-day moving averages.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $272.58, though recent downgrades and risks including potential labor disruptions and Air Force One schedule issues remain concerns.

Hill City Capital LP bought a new position in The Boeing Company (NYSE:BA - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 621,583 shares of the aircraft producer's stock, valued at approximately $134,554,000. Boeing comprises 3.4% of Hill City Capital LP's holdings, making the stock its 8th largest holding. Hill City Capital LP owned approximately 0.08% of Boeing at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of BA. Measured Wealth Private Client Group LLC bought a new stake in Boeing during the third quarter worth $25,000. Strive Financial Group LLC purchased a new position in Boeing in the fourth quarter worth $25,000. Ares Financial Consulting LLC bought a new position in Boeing in the 4th quarter valued at $26,000. CrossGen Wealth LLC bought a new position in Boeing in the 4th quarter valued at $26,000. Finally, Strategic Wealth Advisors LLC purchased a new stake in shares of Boeing during the 4th quarter valued at $27,000. 64.82% of the stock is owned by institutional investors.

Boeing Stock Performance

Shares of BA opened at $214.20 on Monday. The firm has a market cap of $169.30 billion, a PE ratio of 92.73 and a beta of 1.21. The stock's fifty day moving average price is $222.11 and its two-hundred day moving average price is $222.18. 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 Boeing Company has a 1 year low of $176.77 and a 1 year high of $254.35.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.42). Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.The firm had revenue of $24.56 billion for the quarter, compared to the consensus estimate of $24.26 billion. During the same quarter in the previous year, the company posted ($1.24) EPS. The firm's revenue was up 8.0% compared to the same quarter last year. On average, equities research analysts forecast that The Boeing Company will post -0.87 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Citigroup cut Boeing from a "buy" rating to a "sell" rating in a research note on Tuesday, August 11th. Sanford C. Bernstein initiated coverage on shares of Boeing in a research report on Tuesday, August 11th. They set an "outperform" rating for the company. William Blair restated an "outperform" rating on shares of Boeing in a report on Tuesday, July 28th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Boeing in a research report on Tuesday, July 21st. Finally, Barclays cut shares of Boeing from an "equal weight" rating to an "underweight" rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $272.58.

More Boeing News

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 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.

Continue following MarketBeat

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

Add As Preferred Source