Staley Capital Advisers Inc. Boosts Position in The Boeing Company $BA

Key Points

• Staley Capital Advisers Inc. increased its Boeing stake by 6.3% in the first quarter, buying 19,848 additional shares and bringing its total holding to 335,366 shares worth about $66.7 million.
• Boeing’s latest earnings beat expectations, posting a smaller-than-expected loss of $0.20 per share on $22.22 billion in revenue, with revenue up 14% year over year.
• Analysts remain broadly positive on the stock, with a consensus Moderate Buy rating and an average price target of $261.61, while Boeing also saw a director purchase of 1,370 shares in May.

Staley Capital Advisers Inc. lifted its position in shares of The Boeing Company (NYSE:BA - Free Report) by 6.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 335,366 shares of the aircraft producer's stock after buying an additional 19,848 shares during the quarter. Boeing makes up about 2.8% of Staley Capital Advisers Inc.'s holdings, making the stock its 12th largest position. Staley Capital Advisers Inc.'s holdings in Boeing were worth $66,748,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Frank Rimerman Advisors LLC lifted its position in shares of Boeing by 5.5% in the first quarter. Frank Rimerman Advisors LLC now owns 5,966 shares of the aircraft producer's stock valued at $1,187,000 after acquiring an additional 311 shares in the last quarter. Aljian Capital Management LLC increased its position in Boeing by 6.9% during the first quarter. Aljian Capital Management LLC now owns 3,620 shares of the aircraft producer's stock worth $720,000 after purchasing an additional 235 shares during the last quarter. Jackson Thornton Wealth Management LLC acquired a new stake in shares of Boeing during the 1st quarter worth $291,000. Pioneer Trust Bank N A OR raised its position in shares of Boeing by 29.7% in the 1st quarter. Pioneer Trust Bank N A OR now owns 2,530 shares of the aircraft producer's stock worth $504,000 after buying an additional 580 shares during the period. Finally, Meitav Investment House Ltd. boosted its holdings in Boeing by 32.7% in the first quarter. Meitav Investment House Ltd. now owns 197,606 shares of the aircraft producer's stock valued at $39,330,000 after acquiring an additional 48,706 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Price Performance

Shares of NYSE BA opened at $224.67 on Thursday. 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 Boeing Company has a 1-year low of $176.77 and a 1-year high of $254.35. The company has a market capitalization of $177.11 billion, a price-to-earnings ratio of 109.06 and a beta of 1.21. The business has a 50-day moving average of $223.46 and a 200-day moving average of $224.74.

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

More Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing’s production recovery is still intact, with 737 output stabilized and plans to ramp higher, while certification progress on the 737-7/737-10 and 777-9 supports the longer-term turnaround story. Boeing (BA) Could Be 13% Undervalued As 737 MAX Output Ramps Up
• Positive Sentiment: Denmark said it will buy two Boeing P-8A Poseidon maritime patrol aircraft, reinforcing demand for Boeing’s defense business. Denmark to buy two maritime patrol aircraft from Boeing, defence ministry says
• Positive Sentiment: Philippine Airlines is reportedly considering a widebody order that could include about 10 Boeing 787s, which would support backlog and long-term deliveries. Philippine Airlines Eyes 20 Widebody Jets Split Between Boeing and Airbus
• Neutral Sentiment: Investor attention remains elevated around Boeing, but one Zacks item was mainly a sentiment/visibility note rather than a fundamental catalyst. Investors Heavily Search The Boeing Company (BA): Here is What You Need to Know
• Negative Sentiment: Two recent 737 MAX incidents on Southwest flights have put Boeing back in the spotlight and may renew concerns about product reliability and future inspections or delays. Boeing Co. NYSE: BA
• Negative Sentiment: Boeing also faces execution risk from wiring rework, 787 delays, and Spirit AeroSystems integration costs, which could pressure cash flow if problems persist. The Boeing Company Stock

Analyst Ratings Changes

Several equities research analysts have commented on the company. Wells Fargo & Company assumed coverage on Boeing in a research note on Wednesday, April 1st. They set an "overweight" rating and a $250.00 price target for the company. Wolfe Research reiterated an "outperform" rating and set a $275.00 target price on shares of Boeing in a report on Thursday, April 23rd. Morgan Stanley increased their target price on shares of Boeing from $245.00 to $250.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 23rd. Citigroup raised their price target on shares of Boeing from $256.00 to $260.00 and gave the company a "buy" rating in a report on Monday, May 18th. Finally, Tigress Financial lifted their price target on shares of Boeing from $290.00 to $295.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $261.61.

Insider Activity at Boeing

In other news, Director Bradley D. Tilden bought 1,370 shares of Boeing stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average cost of $218.50 per share, with a total value of $299,345.00. Following the completion of the transaction, the director owned 1,370 shares in the company, valued at approximately $299,345. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.10% of the company's stock.

About Boeing

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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