Rehmann Capital Advisory Group Buys 5,162 Shares of The Boeing Company $BA

Key Points

• Rehmann Capital Advisory Group increased its Boeing stake by 42.9% in the fourth quarter, buying 5,162 additional shares and bringing its total to 17,192 shares worth about $3.73 million.
• Other major institutional investors also boosted Boeing positions, and 64.82% of the stock is now owned by institutions. Notably, Boeing director Bradley D. Tilden bought 1,370 shares at $218.50 each in May.
• Boeing shares were trading up 0.4% at $223.51, while the company recently beat earnings expectations with a smaller-than-expected loss and revenue above consensus. Analysts remain mostly constructive, with a consensus rating of Moderate Buy and an average price target of $262.32.

Rehmann Capital Advisory Group boosted its position in shares of The Boeing Company (NYSE:BA - Free Report) by 42.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,192 shares of the aircraft producer's stock after buying an additional 5,162 shares during the quarter. Rehmann Capital Advisory Group's holdings in Boeing were worth $3,733,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Boeing by 5.1% in 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. Alyeska Investment Group L.P. lifted its stake in shares of Boeing by 245.7% during the fourth quarter. Alyeska Investment Group L.P. now owns 2,252,450 shares of the aircraft producer's stock valued at $489,052,000 after acquiring an additional 1,600,909 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Boeing by 43.1% during the fourth quarter. Janus Henderson Group PLC now owns 3,907,876 shares of the aircraft producer's stock valued at $840,204,000 after acquiring an additional 1,176,074 shares during the period. Viking Global Investors LP boosted its holdings in Boeing by 31.3% in the fourth quarter. Viking Global Investors LP now owns 3,953,087 shares of the aircraft producer's stock valued at $858,294,000 after acquiring an additional 942,536 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in Boeing by 47.5% in the fourth quarter. Deutsche Bank AG now owns 2,376,243 shares of the aircraft producer's stock valued at $515,930,000 after acquiring an additional 765,197 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Boeing

In other news, Director Bradley D. Tilden purchased 1,370 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average cost of $218.50 per share, for a total transaction of $299,345.00. Following the transaction, the director directly owned 1,370 shares of the company's stock, valued at approximately $299,345. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.10% of the stock is owned by corporate insiders.

Boeing Trading Up 0.4%

NYSE BA opened at $223.51 on Friday. The Boeing Company has a 12 month low of $176.77 and a 12 month high of $254.35. The stock has a 50-day simple moving average of $224.23 and a 200 day simple moving average of $222.81. 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 company has a market capitalization of $176.19 billion, a PE ratio of 108.50 and a beta of 1.19.

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

Analyst Ratings Changes

Several analysts have weighed in on BA shares. Citigroup boosted their price objective on Boeing from $256.00 to $260.00 and gave the stock a "buy" rating in a report on Monday, May 18th. Wells Fargo & Company started coverage on shares of Boeing in a research note on Wednesday, April 1st. They issued an "overweight" rating and a $250.00 target price on the stock. Tigress Financial lifted their price target on shares of Boeing from $290.00 to $295.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Jefferies Financial Group reissued a "buy" rating on shares of Boeing in a research note on Wednesday, March 4th. Finally, 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 report on Thursday, April 23rd. Two equities research 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 given a Sell rating to the company. According to MarketBeat, Boeing presently has a consensus rating of "Moderate Buy" and an average target price of $262.32.

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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