PNC Financial Services Group Inc. Decreases Stock Holdings in The Boeing Company $BA

Key Points

• PNC Financial Services Group reduced its Boeing stake by 2.3% in the fourth quarter, selling 7,838 shares and ending with 337,731 shares valued at about $73.3 million.
• Boeing continues to draw mixed investor and analyst attention: major institutions like Vanguard and others increased holdings, while analysts mostly remain bullish with an average “Moderate Buy” rating and a $259.80 price target.
• Recent operating and news flow was mostly positive, including a confirmed 200-jet China order, a record $695 billion backlog, and stronger-than-expected quarterly results that beat EPS and revenue estimates.

PNC Financial Services Group Inc. trimmed its holdings in The Boeing Company (NYSE:BA - Free Report) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 337,731 shares of the aircraft producer's stock after selling 7,838 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Boeing were worth $73,328,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Boeing by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 70,989,438 shares of the aircraft producer's stock valued at $15,413,227,000 after buying an additional 3,460,021 shares during the period. Newport Trust Company LLC raised its position in shares of Boeing by 2.5% during the 3rd quarter. Newport Trust Company LLC now owns 29,198,446 shares of the aircraft producer's stock valued at $6,301,901,000 after buying an additional 707,490 shares during the period. Great Lakes Advisors LLC raised its position in shares of Boeing by 25,532.3% during the 3rd quarter. Great Lakes Advisors LLC now owns 424,983 shares of the aircraft producer's stock valued at $91,725,000 after buying an additional 423,325 shares during the period. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Boeing during the 4th quarter valued at approximately $89,368,000. Finally, Bessemer Group Inc. raised its position in shares of Boeing by 50.3% during the 3rd quarter. Bessemer Group Inc. now owns 1,069,819 shares of the aircraft producer's stock valued at $230,900,000 after buying an additional 357,995 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting 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

Analyst Ratings Changes

Several analysts have recently commented on BA shares. Vertical Research reaffirmed a "buy" rating and set a $281.00 price target on shares of Boeing in a research report on Tuesday, January 27th. Argus raised shares of Boeing to a "hold" rating in a research report on Monday, February 2nd. UBS Group lifted their price target on shares of Boeing from $275.00 to $285.00 and gave the company a "buy" rating in a research report on Wednesday, January 28th. JPMorgan Chase & Co. lifted their price target on shares of Boeing from $245.00 to $270.00 and gave the company an "overweight" rating in a research report on Wednesday, January 28th. Finally, Wells Fargo & Company started coverage on shares of Boeing in a report on Wednesday, April 1st. They issued an "overweight" rating and a $250.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $259.80.

Boeing Stock Down 1.1%

Boeing stock opened at $219.72 on Friday. The Boeing Company has a fifty-two week low of $176.77 and a fifty-two week high of $254.35. The company has a debt-to-equity ratio of 7.42, a quick ratio of 0.35 and a current ratio of 1.18. The firm has a 50 day moving average price of $217.24 and a 200 day moving average price of $218.62. The company has a market capitalization of $173.21 billion, a PE ratio of 106.66 and a beta of 1.21.

Boeing (NYSE:BA - Get Free Report) last posted 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 company had revenue of $22.22 billion during the quarter, compared to analyst estimates of $22.15 billion. During the same quarter last year, the business posted ($0.49) EPS. The firm's revenue for the quarter was up 14.0% on a year-over-year basis. Research analysts expect that The Boeing Company will post -0.15 earnings per share for the current year.

Insider Activity at Boeing

In other Boeing news, EVP Uma M. Amuluru sold 1,503 shares of the business's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $233.78, for a total value of $351,371.34. Following the completion of the transaction, the executive vice president owned 19,015 shares in the company, valued at $4,445,326.70. The trade was a 7.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mortimer J. Buckley purchased 2,230 shares of the company's stock in a transaction on Tuesday, March 3rd. The stock was acquired at an average price of $224.20 per share, with a total value of $499,966.00. Following the purchase, the director owned 4,430 shares of the company's stock, valued at approximately $993,206. This represents a 101.36% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.10% of the stock is currently owned by company insiders.

Boeing 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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