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ProShare Advisors LLC Purchases 34,272 Shares of The Boeing Company $BA

Boeing logo with Aerospace background
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Key Points

  • ProShare Advisors LLC increased its Boeing stake by 15.1% in the fourth quarter, buying 34,272 additional shares and bringing its total holdings to 260,975 shares worth about $56.7 million.
  • Wall Street remains generally constructive on Boeing, with analysts issuing a “Moderate Buy” consensus and an average price target of $259.80, even as some firms recently raised their targets and reiterated buy ratings.
  • Recent headlines continue to pressure sentiment, including renewed safety investigations tied to crash probes, hearings involving Boeing and the FAA, and commentary that the company’s China order and broader profitability metrics disappointed expectations.
  • Interested in Boeing? Here are five stocks we like better.

ProShare Advisors LLC grew its position in The Boeing Company (NYSE:BA - Free Report) by 15.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 260,975 shares of the aircraft producer's stock after purchasing an additional 34,272 shares during the period. ProShare Advisors LLC's holdings in Boeing were worth $56,663,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Sanford C. Bernstein reissued an "outperform" rating on shares of Boeing in a research report on Wednesday, January 28th. UBS Group upped their target price on Boeing from $275.00 to $285.00 and gave the stock a "buy" rating in a report on Wednesday, January 28th. TD Cowen reiterated a "buy" rating on shares of Boeing in a report on Wednesday, January 28th. JPMorgan Chase & Co. upped their target price on Boeing from $245.00 to $270.00 and gave the stock an "overweight" rating in a report on Wednesday, January 28th. Finally, Tigress Financial upped their target price on Boeing from $290.00 to $295.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $259.80.

Read Our Latest Report on Boeing

Key Headlines Impacting Boeing

Here are the key news stories impacting Boeing this week:

Insider Activity at Boeing

In other Boeing news, Director Mortimer J. Buckley acquired 2,230 shares of the company's stock in a transaction on Tuesday, March 3rd. The shares were purchased at an average price 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 of the company's stock, valued at approximately $993,206. This represents a 101.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Uma M. Amuluru sold 1,503 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president owned 19,015 shares in the company, valued at $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 corporate insiders.

Boeing Stock Performance

NYSE BA opened at $214.80 on Wednesday. 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 firm's fifty day moving average price is $217.25 and its two-hundred day moving average price is $218.33. The Boeing Company has a 1 year low of $176.77 and a 1 year high of $254.35. The firm has a market capitalization of $169.33 billion, a P/E ratio of 104.27 and a beta of 1.21.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate 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. During the same period last year, the company posted ($0.49) earnings per share. The business's revenue was up 14.0% compared to the same quarter last year. As a group, research analysts anticipate that The Boeing Company will post -0.15 EPS for the current year.

Boeing Company Profile

(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.

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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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