The Boeing Company $BA Shares Bought by New York State Teachers Retirement System

Key Points

• New York State Teachers Retirement System increased its Boeing stake by 3.8% in the first quarter, ending with 579,443 shares valued at about $115.3 million. Institutional ownership of Boeing remains high at 64.82%.
• Boeing reported quarterly earnings of -$0.20 per share, beating estimates of -$0.68, while revenue came in at $22.22 billion, slightly above expectations and up 14% year over year.
• Analyst sentiment is generally constructive, with multiple firms reiterating or raising price targets and MarketBeat showing an average rating of “Moderate Buy” and an average target price of $261.61.

New York State Teachers Retirement System increased its position in shares of The Boeing Company (NYSE:BA - Free Report) by 3.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 579,443 shares of the aircraft producer's stock after acquiring an additional 21,143 shares during the period. New York State Teachers Retirement System owned approximately 0.07% of Boeing worth $115,327,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Russell Investments Group Ltd. grew its position in Boeing by 41.1% during the third quarter. Russell Investments Group Ltd. now owns 223,824 shares of the aircraft producer's stock valued at $48,316,000 after purchasing an additional 65,216 shares in the last quarter. Princeton Capital Management LLC lifted its position in Boeing by 78.3% in the 4th quarter. Princeton Capital Management LLC now owns 12,249 shares of the aircraft producer's stock worth $2,660,000 after buying an additional 5,381 shares in the last quarter. Rakuten Investment Management Inc. lifted its position in Boeing by 502.3% in the 4th quarter. Rakuten Investment Management Inc. now owns 103,099 shares of the aircraft producer's stock worth $22,398,000 after buying an additional 85,982 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Boeing during the 1st quarter valued at $7,961,000. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Boeing during the 4th quarter valued at $55,787,000. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Up 3.5%

BA stock opened at $226.18 on Friday. The stock has a market capitalization of $178.30 billion, a price-to-earnings ratio of 109.80 and a beta of 1.21. The company has a 50-day moving average of $223.70 and a two-hundred day moving average of $224.10. The Boeing Company has a 52-week low of $176.77 and a 52-week high of $254.35. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.18 and a quick ratio of 0.35.

Boeing (NYSE:BA - Get Free Report) last announced its earnings results 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 business had revenue of $22.22 billion for the quarter, compared to the consensus estimate of $22.15 billion. Boeing's revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.49) EPS. As a group, equities research analysts anticipate that The Boeing Company will post -0.15 EPS for the current year.

Analysts Set New Price Targets

BA has been the topic of a number of recent research reports. Wolfe Research restated an "outperform" rating and issued a $275.00 target price on shares of Boeing in a research note on Thursday, April 23rd. Citigroup upped 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. Weiss Ratings downgraded shares of Boeing from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, April 24th. Morgan Stanley raised their target price on Boeing from $245.00 to $250.00 and gave the company an "equal weight" rating in a report on Thursday, April 23rd. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $261.61.

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

Insider Activity at Boeing

In related news, Director Bradley D. Tilden acquired 1,370 shares of the stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average price of $218.50 per share, for a total transaction of $299,345.00. Following the completion of the purchase, the director owned 1,370 shares in the company, valued at approximately $299,345. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.10% of the stock is currently owned by company insiders.

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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