ING Groep NV Buys 736,861 Shares of The Boeing Company $BA

Key Points

• ING Groep NV massively increased its Boeing stake in the fourth quarter, boosting holdings by 2,073.4% to 772,400 shares worth about $167.7 million. Boeing now ranks as the fund’s 20th-largest holding.
• Boeing reported better-than-expected quarterly results, posting a smaller-than-expected loss of $0.20 per share and revenue of $22.22 billion, which was slightly above estimates and up 14% year over year.
• Analysts remain broadly positive on Boeing, with a consensus rating of “Moderate Buy” and an average price target of $259.80, even as the stock was down 0.8% to $215.72 and faces scrutiny from safety concerns and mixed sentiment.

ING Groep NV raised its holdings in The Boeing Company (NYSE:BA - Free Report) by 2,073.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 772,400 shares of the aircraft producer's stock after acquiring an additional 736,861 shares during the quarter. Boeing makes up 1.0% of ING Groep NV's holdings, making the stock its 20th largest holding. ING Groep NV owned about 0.10% of Boeing worth $167,703,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Boeing by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 70,989,438 shares of the aircraft producer's stock valued at $15,413,227,000 after acquiring an additional 3,460,021 shares during the last quarter. Newport Trust Company LLC grew its position in Boeing by 1.0% in the 4th quarter. Newport Trust Company LLC now owns 29,485,294 shares of the aircraft producer's stock valued at $6,401,847,000 after acquiring an additional 286,848 shares during the last quarter. Geode Capital Management LLC grew its position in Boeing by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 17,025,435 shares of the aircraft producer's stock valued at $3,679,592,000 after acquiring an additional 533,753 shares during the last quarter. Fisher Asset Management LLC grew its position in Boeing by 2.5% in the 4th quarter. Fisher Asset Management LLC now owns 5,640,900 shares of the aircraft producer's stock valued at $1,224,752,000 after acquiring an additional 135,860 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Boeing by 2.5% in the 4th quarter. Bank of New York Mellon Corp now owns 3,613,462 shares of the aircraft producer's stock valued at $784,555,000 after acquiring an additional 89,106 shares during the last quarter. Institutional investors own 64.82% of the company's stock.

Boeing Trading Down 0.8%

Shares of NYSE BA opened at $215.72 on Friday. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.18 and a quick ratio of 0.35. The stock has a market capitalization of $170.05 billion, a P/E ratio of 104.72 and a beta of 1.19. The Boeing Company has a 1-year low of $176.77 and a 1-year high of $254.35. The business has a fifty day moving average price of $220.80 and a 200 day moving average price of $220.31.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share for the quarter, topping analysts' consensus estimates of ($0.68) by $0.48. The company had revenue of $22.22 billion for the quarter, compared to analysts' expectations of $22.15 billion. The company's revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.49) earnings per share. Equities research analysts expect that The Boeing Company will post -0.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Tigress Financial upped their price objective on Boeing from $290.00 to $295.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Citigroup upped their price objective on Boeing from $256.00 to $260.00 and gave the company a "buy" rating in a research report on Monday, May 18th. Morgan Stanley upped their price objective on Boeing from $245.00 to $250.00 and gave the company an "equal weight" rating in a research report on Thursday, April 23rd. Jefferies Financial Group reaffirmed a "buy" rating on shares of Boeing in a research report on Wednesday, March 4th. Finally, Weiss Ratings downgraded Boeing from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $259.80.

Insider Buying and Selling at Boeing

In related 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 purchase, the director directly owned 1,370 shares of the company's stock, valued at $299,345. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 0.10% of the stock is owned by company insiders.

Key Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing said it will start building 737 MAX jets on a new final assembly line in Everett, Washington, on July 6, a sign that the company is getting closer to ramping production and potentially lifting output toward 52 jets per month. Boeing to start 737 Max production on new assembly line July 6, CEO says
• Positive Sentiment: Boeing delivered the first two 787 Dreamliners to Riyadh Air, reinforcing steady commercial aircraft demand and giving investors another concrete delivery milestone. Boeing Delivers Riyadh Air's First Two 787 Dreamliner Jets
• Positive Sentiment: Reports that China may consider additional aircraft purchases, along with interest from airlines such as Qantas and Singapore Airlines in wide-body orders, are supporting the view that Boeing could benefit from stronger future demand. China Considering Further Aircraft Purchases, Boeing Stock NYSE: BA Jumps
• Neutral Sentiment: Analyst commentary continues to highlight Boeing’s improving delivery momentum and large commercial backlog, which supports the long-term outlook but does not appear to be a direct catalyst today. Can Boeing's Commercial Aircraft Delivery Momentum Lift Performance?
• Negative Sentiment: A German investigation has been opened into the Boeing 787 nose-gear collapse in Frankfurt, and reports say several workers were injured, adding to safety concerns around the 787 program. German investigators launch probe into Boeing 787 incident in Frankfurt
• Negative Sentiment: Separate reports on the Frankfurt 787 incident and the resulting injuries are likely weighing on sentiment because they revive concerns about Boeing’s quality-control and reliability record. Several injured in Boeing 787 nose-gear collapse in Frankfurt
• Negative Sentiment: Even with the production and delivery updates, Boeing shares are also being pressured by a broader market rotation away from riskier names, helping explain why the stock is under pressure despite the company-specific positives. What's Going On With Boeing Stock Friday?

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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