McAlister Sweet & Associates Inc. Increases Position in The Boeing Company $BA

Key Points

• McAlister Sweet & Associates increased its Boeing position by 57.2% in the third quarter, holding 45,420 shares valued at approximately $8.45 million. Boeing now represents 7.2% of the firm’s portfolio, while institutional investors collectively own 64.82% of the stock.
• Boeing received a potential $14.7 billion, seven-year Lockheed Martin contract to expand PAC-3 missile-seeker production, and the FAA found a 737 MAX software issue was not a flight-safety concern. However, heavy debt, safety scrutiny and a possible investor investigation remain risks.
• Shares recently traded down 1.0% to $187.96, below their 50-day and 200-day moving averages. Analysts maintain a “Moderate Buy” consensus with an average price target of $270.95, despite Boeing missing quarterly EPS estimates and analysts expecting a full-year loss.

McAlister Sweet & Associates Inc. raised its position in shares of The Boeing Company (NYSE:BA - Free Report) by 57.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,420 shares of the aircraft producer's stock after acquiring an additional 16,531 shares during the period. Boeing makes up 7.2% of McAlister Sweet & Associates Inc.'s portfolio, making the stock its 6th biggest holding. McAlister Sweet & Associates Inc.'s holdings in Boeing were worth $8,450,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. B.O.S.S. Retirement Advisors LLC increased its holdings in shares of Boeing by 1.4% in the first quarter. B.O.S.S. Retirement Advisors LLC now owns 3,175 shares of the aircraft producer's stock worth $632,000 after buying an additional 44 shares during the period. Horizon Bancorp Inc. IN boosted its stake in shares of Boeing by 3.1% during the first quarter. Horizon Bancorp Inc. IN now owns 1,493 shares of the aircraft producer's stock valued at $297,000 after purchasing an additional 45 shares during the period. Meadowbrook Advisors Group LLC grew its holdings in shares of Boeing by 2.5% in the first quarter. Meadowbrook Advisors Group LLC now owns 1,955 shares of the aircraft producer's stock worth $389,000 after purchasing an additional 47 shares during the last quarter. Howe & Rusling Inc. increased its stake in shares of Boeing by 2.5% in the first quarter. Howe & Rusling Inc. now owns 2,024 shares of the aircraft producer's stock worth $403,000 after buying an additional 49 shares during the period. Finally, Paul R. Ried Financial Group LLC increased its stake in shares of Boeing by 0.3% in the first quarter. Paul R. Ried Financial Group LLC now owns 18,060 shares of the aircraft producer's stock worth $3,594,000 after buying an additional 49 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

More Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing secured a seven-year contract worth up to approximately $14.7 billion from Lockheed Martin to triple production of PAC-3 Missile Segment Enhancement seekers. The award strengthens Boeing’s defense backlog and could provide multiyear revenue visibility, although some contract terms remain subject to finalization. Boeing receives Lockheed PAC-3 MSE contract worth up to $14.7 billion
• Positive Sentiment: The FAA determined that a recently identified 737 MAX software issue is not a flight-safety concern, helping preserve the path toward certification of the MAX 10. Boeing has also reportedly won major sixth-generation fighter programs, adding to its defense positioning. FAA clears Boeing 737 MAX software issue
• Neutral Sentiment: Recent coverage highlights a conflicting financial picture: Boeing posted about $2.09 billion in trailing net income but negative EBITDA of roughly $2.9 billion. The discrepancy makes reported earnings appear less reflective of underlying operating cash generation, while analysts continue to expect a full-year loss. Boeing has negative EBITDA and positive net income
• Negative Sentiment: Investors remain concerned about Boeing’s high debt burden as billions in maturities approach amid elevated bond yields. Reports of recent Boeing aircraft emergencies, including a British Airways 777 cabin-depressurization incident and a 787 flight that rapidly lost altitude, may also revive scrutiny of product quality and safety. In addition, Pomerantz announced an investor investigation, creating another potential legal overhang. Boeing debt maturities and higher yields

Boeing Trading Down 1.0%

Boeing stock traded down $1.86 during mid-day trading on Wednesday, reaching $187.96. 3,436,111 shares of the company traded hands, compared to its average volume of 6,826,445. 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 52-week low of $176.77 and a 52-week high of $254.35. The firm has a market capitalization of $148.56 billion, a price-to-earnings ratio of 81.38 and a beta of 1.26. The firm's 50 day moving average price is $211.41 and its 200 day moving average price is $216.18.

Boeing (NYSE:BA - Get Free Report) last announced its earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.42). Boeing had a net margin of 2.41% and a negative return on equity of 346.82%. The company had revenue of $24.56 billion for the quarter, compared to the consensus estimate of $24.26 billion. During the same period in the previous year, the firm posted ($1.24) EPS. The company's revenue for the quarter was up 8.0% on a year-over-year basis. On average, analysts anticipate that The Boeing Company will post -0.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on BA. Bank of America reissued a "buy" rating and set a $270.00 price target on shares of Boeing in a research report on Friday, September 18th. The Goldman Sachs Group lowered shares of Boeing from a "buy" rating to a "hold" rating in a report on Tuesday, August 11th. Wolfe Research raised Boeing from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 24th. Sanford C. Bernstein restated an "outperform" rating on shares of Boeing in a report on Wednesday, September 30th. Finally, BNP Paribas Exane raised Boeing from an "underperform" rating to an "outperform" rating and upped their price target for the company from $230.00 to $300.00 in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $270.95.

About Boeing

The Boeing Company NYSE: BA is a global aerospace company that designs, manufactures and supports commercial airplanes, military aircraft, spacecraft and related systems. Its commercial portfolio includes the 737, 787 Dreamliner and 777 families, as well as the 777X program. Boeing sells aircraft to airlines, cargo operators and leasing companies around the world.

Through its defense and space operations, Boeing provides products and services for the U.S. government, allied governments and other institutional customers.

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