Pinnbrook Capital Management LP Invests $3.99 Million in The Boeing Company $BA

Key Points

• Pinnbrook Capital Management opened a new position in Boeing during the fourth quarter, buying 18,363 shares valued at about $3.99 million.
• Institutional interest in Boeing remains strong, with hedge funds and other investors owning 64.82% of the stock and several firms adding to their stakes.
• Boeing has had a run of positive developments, including a 200-jet order from China, Citi’s raised price target to $260, and reporting a record $695 billion backlog that supports its recovery outlook.

Pinnbrook Capital Management LP bought a new position in shares of The Boeing Company (NYSE:BA - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 18,363 shares of the aircraft producer's stock, valued at approximately $3,987,000.

Other institutional investors have also modified their holdings of the company. Revolve Wealth Partners LLC bought a new position in shares of Boeing during the fourth quarter valued at approximately $201,000. Sivia Capital Partners LLC boosted its stake in shares of Boeing by 16.5% during the second quarter. Sivia Capital Partners LLC now owns 1,529 shares of the aircraft producer's stock valued at $320,000 after purchasing an additional 217 shares in the last quarter. AXA S.A. boosted its stake in shares of Boeing by 1,225.7% during the second quarter. AXA S.A. now owns 34,655 shares of the aircraft producer's stock valued at $7,261,000 after purchasing an additional 32,041 shares in the last quarter. Ieq Capital LLC boosted its stake in shares of Boeing by 243.8% during the second quarter. Ieq Capital LLC now owns 33,485 shares of the aircraft producer's stock valued at $7,016,000 after purchasing an additional 23,746 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Boeing by 4.2% during the second quarter. Alliancebernstein L.P. now owns 1,334,451 shares of the aircraft producer's stock valued at $279,608,000 after purchasing an additional 53,736 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: China formally confirmed a 200-jet order from Boeing, reinforcing demand for the company’s commercial aircraft and signaling easing trade tensions. Beijing Confirms Boeing Aircraft Order Following Trump's China Visit—Xi Jinping Seeks To End $30 Billion In Reciprocal Tariffs With US
• Positive Sentiment: Citi said the recent BA selloff is a “gift” and raised its price target to $260, a bullish analyst signal that suggests Wall Street sees further upside from the recent weakness. Citi calls Boeing selloff a 'gift' and lifts BA target to $260
• Positive Sentiment: Articles highlighted Boeing’s record $695 billion backlog, rising deliveries, and defense growth, which improve revenue visibility and support the recovery story. Is Boeing's Growing Backlog Strengthening Its Recovery Prospects?
• Positive Sentiment: Boeing also announced a partnership with Gilat Satellite Networks to offer improved in-flight connectivity as a factory-installed option, adding another product/technology angle for future aircraft sales. Boeing Bets On Gilat Antennas As Connectivity Becomes Core For Investors
• Neutral Sentiment: Coverage around Boeing’s former IMAX theater being left out of new features is mostly a novelty item and is unlikely to materially affect the stock. “A Blow to Movie Buffs”: Boeing Stock NYSE: BA Slips as Former Boeing IMAX Theater Stays Out of Features
• Negative Sentiment: Some traders were disappointed the China order was for 200 planes rather than the larger number initially rumored, which helped explain some of the stock’s volatility despite the headline win. Fresh China deal gives hope for whipsawed Boeing shares

Analysts Set New Price Targets

BA has been the topic of a number of recent research reports. Morgan Stanley increased their price objective on shares of Boeing from $245.00 to $250.00 and gave the company an "equal weight" rating in a research note on Thursday, April 23rd. Tigress Financial increased their price objective on shares of Boeing from $290.00 to $295.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Boeing in a research note on Wednesday, January 28th. Jefferies Financial Group reiterated a "buy" rating on shares of Boeing in a research note on Wednesday, March 4th. Finally, Wells Fargo & Company assumed coverage on shares of Boeing in a research note on Wednesday, April 1st. They set an "overweight" rating and a $250.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $259.80.

Insider Activity at Boeing

In other news, Director Mortimer J. Buckley bought 2,230 shares of the stock in a transaction on Tuesday, March 3rd. The stock was bought at an average cost of $224.20 per share, for a total transaction of $499,966.00. Following the completion of the purchase, the director directly owned 4,430 shares in the company, valued at approximately $993,206. The trade was a 101.36% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Uma M. Amuluru sold 1,503 shares of the firm's stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $233.78, for a total transaction of $351,371.34. Following the completion of the transaction, the executive vice president directly owned 19,015 shares of the company's stock, valued at approximately $4,445,326.70. This represents a 7.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.10% of the stock is owned by company insiders.

Boeing Price Performance

Shares of BA opened at $219.72 on Friday. The company has a market cap of $173.21 billion, a price-to-earnings ratio of 106.66 and a beta of 1.21. 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 company has a 50 day moving average of $217.24 and a two-hundred day moving average of $218.62.

Boeing (NYSE:BA - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.48. The firm had revenue of $22.22 billion during the quarter, compared to analyst estimates of $22.15 billion. Boeing's revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.49) earnings per share. As a group, analysts predict that The Boeing Company will post -0.15 earnings per share for the current fiscal year.

About Boeing

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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