TD Asset Management Inc Has $71.63 Million Stake in The Boeing Company $BA

Key Points

• TD Asset Management increased its Boeing stake by 2.1% in the fourth quarter, ending with 329,887 shares worth about $71.6 million. Several other large institutional investors also raised their positions, and institutions now own 64.82% of Boeing.
• Boeing is showing operational momentum, including plans to begin building 737 MAX jets on a new assembly line in Everett on July 6 and delivery of the first two 787 Dreamliners to Riyadh Air. The company is also benefiting from reports of potential additional aircraft orders from China and other airlines.
• Despite those positives, Boeing shares remain pressured by a German investigation into a 787 nose-gear collapse in Frankfurt, which has revived quality-control concerns. The stock was also trading down 0.8% in the article, even as analysts maintain a consensus Moderate Buy rating.

TD Asset Management Inc lifted its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 2.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 329,887 shares of the aircraft producer's stock after acquiring an additional 6,642 shares during the period. TD Asset Management Inc's holdings in Boeing were worth $71,625,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Boeing by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 70,989,438 shares of the aircraft producer's stock worth $15,413,227,000 after acquiring an additional 3,460,021 shares during the period. Newport Trust Company LLC lifted its holdings in shares of Boeing by 1.0% during the 4th quarter. Newport Trust Company LLC now owns 29,485,294 shares of the aircraft producer's stock worth $6,401,847,000 after acquiring an additional 286,848 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Boeing by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 17,025,435 shares of the aircraft producer's stock worth $3,679,592,000 after acquiring an additional 533,753 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Boeing by 2.5% during the 4th quarter. Fisher Asset Management LLC now owns 5,640,900 shares of the aircraft producer's stock worth $1,224,752,000 after acquiring an additional 135,860 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Boeing by 2.5% during the 4th quarter. Bank of New York Mellon Corp now owns 3,613,462 shares of the aircraft producer's stock worth $784,555,000 after acquiring an additional 89,106 shares during the period. 64.82% of the stock is owned by institutional investors.

Boeing News Roundup

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing said it will start building 737 MAX jets on a new final assembly line in Everett, Washington, on July 6, a sign that the company is getting closer to ramping production and potentially lifting output toward 52 jets per month. Boeing to start 737 Max production on new assembly line July 6, CEO says
• Positive Sentiment: Boeing delivered the first two 787 Dreamliners to Riyadh Air, reinforcing steady commercial aircraft demand and giving investors another concrete delivery milestone. Boeing Delivers Riyadh Air's First Two 787 Dreamliner Jets
• Positive Sentiment: Reports that China may consider additional aircraft purchases, along with interest from airlines such as Qantas and Singapore Airlines in wide-body orders, are supporting the view that Boeing could benefit from stronger future demand. China Considering Further Aircraft Purchases, Boeing Stock NYSE: BA Jumps
• Neutral Sentiment: Analyst commentary continues to highlight Boeing’s improving delivery momentum and large commercial backlog, which supports the long-term outlook but does not appear to be a direct catalyst today. Can Boeing's Commercial Aircraft Delivery Momentum Lift Performance?
• Negative Sentiment: A German investigation has been opened into the Boeing 787 nose-gear collapse in Frankfurt, and reports say several workers were injured, adding to safety concerns around the 787 program. German investigators launch probe into Boeing 787 incident in Frankfurt
• Negative Sentiment: Separate reports on the Frankfurt 787 incident and the resulting injuries are likely weighing on sentiment because they revive concerns about Boeing’s quality-control and reliability record. Several injured in Boeing 787 nose-gear collapse in Frankfurt
• Negative Sentiment: Even with the production and delivery updates, Boeing shares are also being pressured by a broader market rotation away from riskier names, helping explain why the stock is under pressure despite the company-specific positives. What's Going On With Boeing Stock Friday?

Insiders Place Their Bets

In related news, Director Bradley D. Tilden acquired 1,370 shares of the stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of $218.50 per share, for a total transaction of $299,345.00. Following the transaction, the director owned 1,370 shares of the company's stock, valued at $299,345. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.10% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Citigroup raised their price objective on shares of Boeing from $256.00 to $260.00 and gave the stock a "buy" rating in a report on Monday, May 18th. Wells Fargo & Company initiated coverage on shares of Boeing in a report on Wednesday, April 1st. They set an "overweight" rating and a $250.00 price target for the company. 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 report on Wednesday, April 29th. Weiss Ratings downgraded shares of Boeing from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, April 24th. Finally, Morgan Stanley lifted their price target 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 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's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $259.80.

Boeing Trading Down 0.8%

BA opened at $215.72 on Friday. 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 stock has a market capitalization of $170.05 billion, a PE ratio of 104.72 and a beta of 1.19. The Boeing Company has a 1-year low of $176.77 and a 1-year high of $254.35. The firm has a 50-day moving average price of $220.80 and a two-hundred day moving average price of $220.31.

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

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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