Jain Global LLC Lowers Holdings in The Boeing Company $BA

Key Points

• Jain Global LLC cut its stake in The Boeing Company by 44.0% in Q3, selling 159,521 shares and now holding 202,828 shares valued at $43.78 million, making Boeing about 0.2% of its portfolio and its 26th largest position.
• Boeing reported a surprise quarterly EPS of $9.92 (vs. -$0.40 expected) and revenue of $23.95 billion, up 57.1% YoY, though analysts still project -2.58 EPS for the current year.
• Several large institutional investors (Vanguard, Newport Trust, Fisher Asset, Legal & General) increased their Boeing holdings in Q3, and institutional ownership of the stock stands at 64.82%.

Jain Global LLC reduced its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 44.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 202,828 shares of the aircraft producer's stock after selling 159,521 shares during the period. Boeing accounts for about 0.2% of Jain Global LLC's investment portfolio, making the stock its 26th largest position. Jain Global LLC's holdings in Boeing were worth $43,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of BA. Vanguard Group Inc. grew its holdings in Boeing by 1.1% in the third quarter. Vanguard Group Inc. now owns 67,529,417 shares of the aircraft producer's stock valued at $14,574,874,000 after purchasing an additional 756,057 shares during the period. Newport Trust Company LLC raised its stake in Boeing by 2.5% during the third quarter. Newport Trust Company LLC now owns 29,198,446 shares of the aircraft producer's stock worth $6,301,901,000 after purchasing an additional 707,490 shares during the period. Fisher Asset Management LLC raised its stake in Boeing by 3.3% during the third quarter. Fisher Asset Management LLC now owns 5,505,040 shares of the aircraft producer's stock worth $1,188,153,000 after purchasing an additional 177,597 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Boeing by 1.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,242,397 shares of the aircraft producer's stock valued at $888,910,000 after purchasing an additional 44,338 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Boeing by 7.1% in the 3rd quarter. Legal & General Group Plc now owns 3,369,615 shares of the aircraft producer's stock valued at $727,264,000 after purchasing an additional 223,995 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Price Performance

Boeing stock opened at $209.97 on Monday. The firm has a fifty day moving average of $235.19 and a 200-day moving average of $219.17. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $254.35. The company has a quick ratio of 0.40, a current ratio of 1.19 and a debt-to-equity ratio of 8.37. The firm has a market capitalization of $164.90 billion, a P/E ratio of 104.46 and a beta of 1.14.

Boeing (NYSE:BA - Get Free Report) last posted its earnings results on Tuesday, January 27th. The aircraft producer reported $9.92 earnings per share for the quarter, beating the consensus estimate of ($0.40) by $10.32. The business had revenue of $23.95 billion for the quarter, compared to analyst estimates of $22.41 billion. During the same quarter in the previous year, the firm posted ($5.90) EPS. The business's revenue was up 57.1% compared to the same quarter last year. As a group, analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Insider Buying and Selling

In other Boeing news, EVP Uma M. Amuluru sold 2,731 shares of the business's stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $236.00, for a total transaction of $644,516.00. Following the transaction, the executive vice president owned 11,925 shares in the company, valued at $2,814,300. The trade was a 18.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Ann M. Schmidt sold 6,281 shares of the company's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $243.37, for a total value of $1,528,606.97. Following the completion of the sale, the senior vice president directly owned 13,978 shares of the company's stock, valued at $3,401,825.86. The trade was a 31.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 21,012 shares of company stock valued at $4,980,687. 0.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

BA has been the subject of a number of research analyst reports. Weiss Ratings upgraded Boeing from a "sell (d-)" rating to a "hold (c-)" rating in a report on Wednesday, February 4th. Tigress Financial reaffirmed a "buy" rating and issued a $275.00 target price on shares of Boeing in a research report on Monday, December 29th. Royal Bank Of Canada upped their price target on Boeing from $265.00 to $275.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 28th. Vertical Research restated a "buy" rating and set a $281.00 price target on shares of Boeing in a research note on Tuesday, January 27th. Finally, New Street Research set a $257.00 price objective on Boeing in a report on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $246.14.

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.

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