International Assets Investment Management LLC Sells 30,090 Shares of The Boeing Company $BA

Key Points

• International Assets Investment Management cut its Boeing stake by 82.5%, selling 30,090 shares in the third quarter and ending with 6,372 shares valued at about $1.23 million.
• Other institutional investors increased their holdings, and institutions and hedge funds collectively owned 64.82% of Boeing stock.
• Boeing’s latest quarter brought mixed signals: revenue rose 3.9% year over year but EPS missed estimates. The company also plans to reduce its commercial-airplane workforce by about 5% as production growth slows, despite a reported $745 billion order book.

International Assets Investment Management LLC trimmed its position in shares of The Boeing Company (NYSE:BA - Free Report) by 82.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,372 shares of the aircraft producer's stock after selling 30,090 shares during the quarter. International Assets Investment Management LLC's holdings in Boeing were worth $1,225,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. SteelPeak Wealth LLC raised its stake in Boeing by 660.0% during the 3rd quarter. SteelPeak Wealth LLC now owns 94,976 shares of the aircraft producer's stock worth $17,670,000 after acquiring an additional 82,479 shares in the last quarter. McAlister Sweet & Associates Inc. grew its position in Boeing by 57.2% during the third quarter. McAlister Sweet & Associates Inc. now owns 45,420 shares of the aircraft producer's stock worth $8,450,000 after buying an additional 16,531 shares during the period. Integrated Wealth Concepts LLC grew its holdings in shares of Boeing by 16.0% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 42,417 shares of the aircraft producer's stock worth $9,182,000 after acquiring an additional 5,862 shares during the period. T3 Companies LLC grew its holdings in Boeing by 1,487.1% in the third quarter. T3 Companies LLC now owns 17,458 shares of the aircraft producer's stock valued at $3,248,000 after purchasing an additional 16,358 shares during the last quarter. Finally, Mather Group LLC. increased its holdings in Boeing by 347.3% during the 3rd quarter. Mather Group LLC. now owns 23,183 shares of the aircraft producer's stock valued at $4,313,000 after acquiring an additional 18,000 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Key Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing’s reported $745 billion order book points to substantial longer-term demand for its aircraft, providing a potential offset to concerns about the pace of production. Article: Boeing (BA): A Top 10 Dow Stock for 2027 With a Record $745B of Orders
• Negative Sentiment: Boeing plans to cut about 5% of its commercial-airplane workforce through layoffs and attrition because production is increasing more slowly than previously expected. The announcement underscores a more cautious production ramp and may weigh on confidence in the division’s recovery, even as staffing reductions could help control costs. Article: Boeing to cut 5% of commercial airplane workforce as production increase is slower than expected

Analysts Set New Price Targets

A number of research firms recently issued reports on BA. Needham & Company LLC assumed coverage on Boeing in a report on Wednesday, October 28th. They set a "hold" rating on the stock. Glj Research began coverage on Boeing in a report on Wednesday, October 28th. They set a "buy" rating for the company. Scotiabank upgraded shares of Boeing to an "outperform" rating in a research note on Wednesday, October 28th. Wolfe Research raised Boeing from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 24th. Finally, Tigress Financial boosted their price objective on Boeing from $295.00 to $305.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $247.88.

Boeing Stock Down 0.4%

Boeing stock opened at $172.64 on Tuesday. The Boeing Company has a 52 week low of $165.01 and a 52 week high of $254.35. The stock has a market cap of $136.81 billion, a price-to-earnings ratio of 18.79 and a beta of 1.34. The company's 50-day moving average price is $191.65 and its two-hundred day moving average price is $215.03. The company has a current ratio of 1.13, a quick ratio of 0.34 and a debt-to-equity ratio of 6.31.

Boeing (NYSE:BA - Get Free Report) last released its earnings results on Tuesday, October 27th. The aircraft producer reported ($0.34) earnings per share for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.09). Boeing had a negative return on equity of 42.40% and a net margin of 7.98%. The firm had revenue of $24.19 billion during the quarter, compared to analyst estimates of $23.95 billion. During the same quarter last year, the company earned ($7.47) earnings per share. The business's revenue for the quarter was up 3.9% on a year-over-year basis. On average, analysts expect that The Boeing Company will post -1.84 EPS for the current fiscal year.

Insider Activity at Boeing

In other Boeing news, Director Steven Mollenkopf bought 2,950 shares of the business's stock in a transaction that occurred on Friday, October 30th. The stock was acquired at an average cost of $173.03 per share, with a total value of $510,438.50. Following the completion of the purchase, the director directly owned 6,717 shares in the company, valued at approximately $1,162,242.51. This trade represents a 78.31% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Mortimer Buckley acquired 5,820 shares of Boeing stock in a transaction dated Friday, October 30th. The shares were bought at an average cost of $171.55 per share, with a total value of $998,421.00. Following the completion of the purchase, the director owned 10,250 shares in the company, valued at approximately $1,758,387.50. This represents a 131.38% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.10% of the stock is owned by corporate insiders.

About Boeing

The Boeing Company is an aerospace manufacturer that designs, builds and supports commercial airplanes, defense products and space systems. Its commercial aircraft include the 737, 767, 777 and 787 families, which serve passenger and cargo operators around the world.

Boeing's defense, space and security business supplies military aircraft, helicopters, weapons, satellites and related systems, as well as services for government customers. Its Boeing Global Services business provides support such as maintenance, parts, training and logistics for commercial and government customers.

Founded in 1916 by William Boeing, the company has grown into a global aerospace business serving customers across the Americas, Europe, Asia and other regions.

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