Sierra Summit Advisors LLC Acquires New Holdings in The Boeing Company $BA

Key Points

• Sierra Summit Advisors LLC opened a new position in Boeing during the first quarter, buying 36,321 shares valued at about $7.23 million.
• Boeing continues to attract institutional interest, with hedge funds and other investors owning 64.82% of the company, while director Bradley D. Tilden also recently purchased shares.
• The stock has been supported by improving sentiment around a China order, better delivery momentum, and expectations for Boeing’s upcoming July 28 earnings report, even as the company still carries high leverage and mixed operational headlines.

Sierra Summit Advisors LLC acquired a new position in The Boeing Company (NYSE:BA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 36,321 shares of the aircraft producer's stock, valued at approximately $7,229,000.

Other hedge funds also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new stake in Boeing during the 1st quarter valued at $7,834,000. Elevation Point Wealth Partners LLC raised its position in shares of Boeing by 58.3% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 18,746 shares of the aircraft producer's stock worth $3,731,000 after acquiring an additional 6,907 shares in the last quarter. Platform Technology Partners raised its position in shares of Boeing by 3.1% in the 1st quarter. Platform Technology Partners now owns 16,867 shares of the aircraft producer's stock worth $3,357,000 after acquiring an additional 513 shares in the last quarter. DSG Capital Advisors LLC bought a new position in shares of Boeing in the 1st quarter worth $510,000. Finally, Sound Income Strategies LLC lifted its stake in shares of Boeing by 2.3% during the 1st quarter. Sound Income Strategies LLC now owns 5,133 shares of the aircraft producer's stock worth $1,064,000 after purchasing an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company's stock.

Boeing Stock Up 3.5%

Shares of BA stock opened at $226.18 on Friday. The Boeing Company has a 1-year low of $176.77 and a 1-year high of $254.35. The stock's fifty day moving average price is $223.70 and its 200 day moving average price is $224.10. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.18 and a quick ratio of 0.35. The company has a market cap of $178.30 billion, a price-to-earnings ratio of 109.80 and a beta of 1.21.

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, beating analysts' consensus estimates of ($0.68) by $0.48. The business had revenue of $22.22 billion during the quarter, compared to analysts' expectations of $22.15 billion. The company's quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.49) earnings per share. On average, research analysts expect that The Boeing Company will post -0.15 earnings per share for the current fiscal year.

Boeing News Summary

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing’s return to China is driving optimism after China Southern reportedly placed a $3.62 billion order, including seven freighter aircraft, reinforcing demand in one of the world’s largest aviation markets and boosting the company’s backlog. Boeing (BA) Returns To China With Seven Plane Cargo Order From China Southern
• Positive Sentiment: Recent commentary also highlights improving delivery momentum, a sizable defense award, and a softer interest-rate backdrop, all of which are helping sentiment around Boeing’s cash-flow recovery and operational turnaround. Boeing stock gains as delivery recovery, defense backlog and a softer-rate backdrop lift sentiment
• Positive Sentiment: Analysts and market chatter remain constructive ahead of Boeing’s July 28 second-quarter earnings report, with investors watching for further progress in 737 MAX execution, commercial deliveries, and defense backlog growth. Boeing Stock (BA) Opinions on China Order and Earnings Outlook
• Neutral Sentiment: JetZero’s progress on a new aircraft design underscores long-term competitive pressure on Boeing, but it is more of an industry watch item than an immediate driver of today’s trading. In Mojave Desert, startup JetZero builds novel plane to take on Airbus and Boeing
• Negative Sentiment: A lawsuit involving Boeing-owned Wisk Aero over alleged retaliation tied to safety concerns adds another governance and safety headline, which could weigh on sentiment even if the financial impact is indirect. Boeing-owned Wisk Aero accused of firing manager who raised safety concerns
• Negative Sentiment: Reports of an unplanned IT outage that disrupted factory operations from Washington to Florida highlight ongoing operational fragility and could temper enthusiasm around the recovery story. Boeing says 'unplanned IT outage' hit computer systems as factory work from Washington to Florida was disrupted

Analyst Upgrades and Downgrades

BA has been the topic of a number of recent research reports. Wells Fargo & Company initiated coverage on Boeing in a research report on Wednesday, April 1st. They set an "overweight" rating and a $250.00 price objective on the stock. Tigress Financial boosted their target price on shares of Boeing from $290.00 to $295.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Weiss Ratings lowered shares of Boeing from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, April 24th. Wolfe Research restated an "outperform" rating and issued a $275.00 price target on shares of Boeing in a report on Thursday, April 23rd. Finally, Citigroup lifted their price objective on shares of Boeing from $256.00 to $260.00 and gave the stock a "buy" rating in a research report on Monday, May 18th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $261.61.

Insider Activity at Boeing

In related news, Director Bradley D. Tilden bought 1,370 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average cost of $218.50 per share, for a total transaction of $299,345.00. Following the purchase, the director directly owned 1,370 shares of the company's stock, valued at approximately $299,345. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.10% of the stock is owned by insiders.

Boeing Company 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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