Pinebridge Investments LLC Acquires Shares of 50,677 The Boeing Company $BA

Key Points

• Pinebridge Investments LLC opened a new position in Boeing during the fourth quarter, buying 50,677 shares valued at about $11.0 million.
• 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 up 14% year over year.
• The company’s shares were down 0.8% on the day, even as Boeing continues to attract institutional interest and recent news highlighted both production progress and safety-related concerns around the 787 program.

Pinebridge Investments LLC acquired a new stake in The Boeing Company (NYSE:BA - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 50,677 shares of the aircraft producer's stock, valued at approximately $11,003,000.

Several other institutional investors have also recently bought and sold shares of the business. Purus Wealth Management LLC raised its position in Boeing by 3.6% in the 4th quarter. Purus Wealth Management LLC now owns 1,177 shares of the aircraft producer's stock valued at $256,000 after purchasing an additional 41 shares during the last quarter. West Wealth Group LLC raised its position in Boeing by 0.6% in the 4th quarter. West Wealth Group LLC now owns 7,279 shares of the aircraft producer's stock valued at $1,581,000 after purchasing an additional 42 shares during the last quarter. First Heartland Consultants Inc. raised its position in 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 purchasing an additional 43 shares during the last quarter. Global Financial Private Client LLC raised its position in Boeing by 1.1% in the 4th quarter. Global Financial Private Client LLC now owns 4,025 shares of the aircraft producer's stock valued at $874,000 after purchasing an additional 44 shares during the last quarter. Finally, North Star Investment Management Corp. raised its position in Boeing by 1.6% in the 4th quarter. North Star Investment Management Corp. now owns 2,833 shares of the aircraft producer's stock valued at $615,000 after purchasing an additional 44 shares during the last quarter. Institutional investors own 64.82% of the company's stock.

Boeing Trading Down 0.8%

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

Boeing (NYSE:BA - Get Free Report) last released its earnings results 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 firm had revenue of $22.22 billion for the quarter, compared to the consensus estimate of $22.15 billion. The company's revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.49) EPS. As a group, equities research analysts expect that The Boeing Company will post -0.15 EPS for the current year.

Insider Buying and Selling at Boeing

In other news, Director Bradley D. Tilden bought 1,370 shares of the company's stock in a transaction dated Wednesday, May 20th. The stock was bought at an average price of $218.50 per share, for a total transaction of $299,345.00. Following the completion of the transaction, the director directly owned 1,370 shares in the company, valued at $299,345. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.10% of the stock is currently owned by insiders.

Trending Headlines about Boeing

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?

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Weiss Ratings downgraded Boeing from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, April 24th. Jefferies Financial Group reiterated a "buy" rating on shares of Boeing in a research report on Wednesday, March 4th. Morgan Stanley lifted 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. Tigress Financial lifted 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. Finally, Wells Fargo & Company began coverage on Boeing in a research report on Wednesday, April 1st. They set an "overweight" rating and a $250.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Boeing has an average rating of "Moderate Buy" and a consensus price target of $259.80.

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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