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Principal Financial Group Inc. Acquires 128,509 Shares of The Boeing Company $BA

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Key Points

  • Principal Financial Group increased its Boeing stake by 13.4%, buying 128,509 shares to own 1,084,281 shares valued at about $235.42 million, representing roughly 0.14% of the company.
  • Boeing recently beat quarterly EPS estimates (reported -$0.20 vs. -$0.68) with revenue up 14% to $22.22 billion, and analysts remain mostly positive—consensus "Moderate Buy" with an average target near $259.60 (Tigress $295, RBC $275).
  • Institutional investors hold 64.82% of Boeing's stock, while insiders have been net sellers recently (18,281 shares sold in the last three months) and now own only about 0.10% of shares.
  • Five stocks to consider instead of Boeing.

Principal Financial Group Inc. raised its holdings in The Boeing Company (NYSE:BA - Free Report) by 13.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,084,281 shares of the aircraft producer's stock after buying an additional 128,509 shares during the quarter. Principal Financial Group Inc. owned 0.14% of Boeing worth $235,419,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in BA. Purus Wealth Management LLC boosted its position in shares of Boeing by 3.6% during the 4th quarter. Purus Wealth Management LLC now owns 1,177 shares of the aircraft producer's stock valued at $256,000 after acquiring an additional 41 shares in the last quarter. West Wealth Group LLC raised its position in Boeing by 0.6% in the fourth quarter. West Wealth Group LLC now owns 7,279 shares of the aircraft producer's stock worth $1,581,000 after purchasing an additional 42 shares in the last quarter. First Heartland Consultants Inc. lifted its stake in Boeing by 1.1% during the fourth quarter. First Heartland Consultants Inc. now owns 4,062 shares of the aircraft producer's stock worth $882,000 after purchasing an additional 43 shares during the period. Global Financial Private Client LLC lifted its stake in Boeing by 1.1% during the fourth quarter. Global Financial Private Client LLC now owns 4,025 shares of the aircraft producer's stock worth $874,000 after purchasing an additional 44 shares during the period. Finally, North Star Investment Management Corp. boosted its holdings in Boeing by 1.6% during the fourth 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 in the last quarter. Institutional investors and hedge funds own 64.82% of the company's stock.

More Boeing News

Here are the key news stories impacting Boeing this week:

Boeing Stock Performance

NYSE BA opened at $224.39 on Wednesday. The firm has a market cap of $176.89 billion, a price-to-earnings ratio of 108.93 and a beta of 1.21. The company has a current ratio of 1.18, a quick ratio of 0.35 and a debt-to-equity ratio of 7.42. The Boeing Company has a 1-year low of $176.77 and a 1-year high of $254.35. The company has a 50 day moving average of $216.96 and a 200-day moving average of $217.45.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BA. TD Cowen reiterated a "buy" rating on shares of Boeing in a research note on Wednesday, January 28th. Susquehanna reaffirmed a "positive" rating and issued a $280.00 price target on shares of Boeing in a research note on Thursday, January 15th. Weiss Ratings cut Boeing from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, April 24th. Tigress Financial increased their price objective on Boeing from $290.00 to $295.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Finally, Royal Bank Of Canada increased their price objective on Boeing from $265.00 to $275.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 28th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $259.60.

Read Our Latest Stock Analysis on BA

Insiders Place Their Bets

In other Boeing news, EVP Uma M. Amuluru sold 1,503 shares of the firm's stock in a transaction dated 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 sale, the executive vice president owned 19,015 shares in the company, valued at approximately $4,445,326.70. This trade represents a 7.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mortimer J. Buckley purchased 2,230 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were acquired at an average price of $224.20 per share, with a total value of $499,966.00. Following the transaction, the director owned 4,430 shares in the company, valued at $993,206. This trade represents a 101.36% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have sold 18,281 shares of company stock valued at $4,336,171. 0.10% of the stock is owned by corporate insiders.

About Boeing

(Free Report)

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.

Read More

Want to see what other hedge funds are holding BA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Boeing Company (NYSE:BA - Free Report).

Institutional Ownership by Quarter for Boeing (NYSE:BA)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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