Janney Montgomery Scott LLC Boosts Holdings in The Boeing Company $BA

Key Points

• Janney Montgomery Scott LLC increased its Boeing stake by 3.3% in the first quarter, buying 5,474 more shares and bringing its total holdings to 170,195 shares worth about $33.9 million.
• Boeing beat quarterly expectations, reporting a smaller-than-expected loss of $0.20 per share versus the $0.68 loss analysts projected, while revenue rose 14% year over year to $22.22 billion.
• Wall Street remains cautiously optimistic on Boeing, with a consensus “Moderate Buy” rating and an average price target of $261.61 despite mixed analyst views and ongoing concerns about the company’s financial leverage.

Janney Montgomery Scott LLC boosted its position in The Boeing Company (NYSE:BA - Free Report) by 3.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,195 shares of the aircraft producer's stock after purchasing an additional 5,474 shares during the quarter. Janney Montgomery Scott LLC's holdings in Boeing were worth $33,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Purus Wealth Management LLC boosted its stake in Boeing by 3.6% during the fourth quarter. Purus Wealth Management LLC now owns 1,177 shares of the aircraft producer's stock valued at $256,000 after buying an additional 41 shares during the period. West Wealth Group LLC increased its stake in Boeing by 0.6% in the 4th quarter. West Wealth Group LLC now owns 7,279 shares of the aircraft producer's stock worth $1,581,000 after acquiring 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 acquiring an additional 43 shares in the last quarter. XML Financial LLC raised its holdings in shares of 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 acquiring an additional 43 shares in the last quarter. Finally, Global Financial Private Client LLC boosted its position in shares of Boeing by 1.1% during the 4th quarter. Global Financial Private Client LLC now owns 4,025 shares of the aircraft producer's stock valued at $874,000 after acquiring an additional 44 shares during the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Stock Performance

Shares of NYSE BA opened at $214.41 on Tuesday. The stock's 50-day moving average is $223.84 and its 200 day moving average is $223.70. The stock has a market cap of $169.02 billion, a price-to-earnings ratio of 104.08 and a beta of 1.20. The Boeing Company has a 1-year low of $176.77 and a 1-year high of $254.35. The company has a current ratio of 1.18, a quick ratio of 0.35 and a debt-to-equity ratio of 7.42.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BA shares. Citigroup boosted their price objective on Boeing from $256.00 to $260.00 and gave the stock a "buy" rating in a report on Monday, May 18th. Weiss Ratings lowered shares of Boeing from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, April 24th. Morgan Stanley increased their price target on shares of Boeing from $245.00 to $250.00 and gave the stock an "equal weight" rating in a report on Thursday, April 23rd. Tigress Financial raised their price objective on shares of Boeing from $290.00 to $295.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Finally, Wolfe Research reaffirmed an "outperform" rating and set a $275.00 price objective on shares of Boeing in a report on Thursday, April 23rd. Two investment 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 issued a Sell rating to the stock. According to MarketBeat, Boeing presently has a consensus rating of "Moderate Buy" and a consensus target price of $261.61.

Insider Buying and Selling at Boeing

In other Boeing news, Director Bradley D. Tilden acquired 1,370 shares of the business's stock in a transaction dated Wednesday, May 20th. The stock was bought at an average price of $218.50 per share, with a total value of $299,345.00. Following the purchase, the director owned 1,370 shares of the company's stock, valued at approximately $299,345. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.10% of the company's stock.

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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