The Boeing Company $BA Shares Bought by QRG Capital Management Inc.

Key Points

• QRG Capital Management increased its Boeing stake by 449.6% in the second quarter, holding 571,042 shares worth approximately $123.6 million. Institutional investors and hedge funds collectively own 64.82% of Boeing.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $270.95, although Citigroup downgraded the stock to “Sell” and Cantor Fitzgerald moved to “Neutral.”
• Boeing faces a mixed outlook: strong demand, including Turkish Airlines’ order for up to 150 737 MAX jets, contrasts with slower-than-expected production ramp-up, high debt, valuation concerns and a recent quarterly EPS miss.

QRG Capital Management Inc. grew its stake in The Boeing Company (NYSE:BA - Free Report) by 449.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 571,042 shares of the aircraft producer's stock after buying an additional 467,137 shares during the quarter. Boeing accounts for approximately 0.9% of QRG Capital Management Inc.'s portfolio, making the stock its 18th biggest position. QRG Capital Management Inc. owned approximately 0.07% of Boeing worth $123,613,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jupiter Topco LLC purchased a new position in Boeing in the second quarter worth approximately $911,878,000. Bank of New York Mellon Corp purchased a new stake in shares of Boeing in the 2nd quarter valued at approximately $747,763,000. Legal & General Group Plc purchased a new stake in shares of Boeing in the 2nd quarter valued at approximately $710,816,000. Deutsche Bank AG acquired a new stake in shares of Boeing in the 2nd quarter valued at $539,456,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Boeing during the 2nd quarter worth $441,997,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Citigroup downgraded shares of Boeing from a "buy" rating to a "sell" rating in a research note on Tuesday, August 11th. Royal Bank Of Canada decreased their price target on Boeing from $275.00 to $265.00 and set an "outperform" rating for the company in a report on Wednesday, July 29th. Cantor Fitzgerald cut Boeing to a "neutral" rating in a research report on Tuesday, August 11th. BNP Paribas Exane upgraded Boeing from an "underperform" rating to an "outperform" rating and increased their price objective for the company from $230.00 to $300.00 in a report on Monday, August 3rd. Finally, Sanford C. Bernstein started coverage on Boeing in a research report on Tuesday, August 11th. They set an "outperform" rating on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $270.95.

Key Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Turkish Airlines placed an order for up to 150 737 MAX jets—100 firm 737-8 aircraft plus options for 50 more—in Boeing’s largest single-aisle order from the airline. The deal reinforces demand and adds to Boeing’s substantial commercial backlog. Boeing and Turkish Airlines Finalize Order for up to 150 737 MAX Jets
• Positive Sentiment: Boeing’s engineers’ union recommended that members accept the company’s latest contract offer. The recommendation reduces near-term labor-disruption risk and helped lift investor confidence, although members still must vote on the agreement. Boeing's engineers union backs latest contract offer
• Positive Sentiment: Boeing won a $33.4 million U.S. Air Force contract for C-17 avionics support through 2032, providing a modest defense and aftermarket-services revenue contribution. Boeing Stock Climbs Modestly Following $33.4M Air Force Avionics Deal
• Neutral Sentiment: Potential progress in Trump-Xi trade talks could benefit Boeing if reduced tariffs improve the outlook for aerospace trade with China. However, analysts reportedly expect limited progress on broader technology and strategic issues, making the effect uncertain. Trump-Xi Talks Won't Deliver Breakthroughs on Chips, Rare Earths. Boeing Can Benefit.
• Negative Sentiment: CEO Kelly Ortberg indicated that the 737 MAX production ramp is taking longer than expected. Investors are concerned that manufacturing delays will prevent Boeing from converting its large backlog into deliveries, cash flow and earnings. Boeing is also pressing suppliers to adopt more automation, highlighting ongoing production challenges. Boeing’s Demand Is Strong. Can Production Finally Catch Up?
• Negative Sentiment: Valuation and execution concerns remain. Despite recent orders, Boeing’s shares have already suffered a substantial year-to-date decline, while analysts question whether production constraints, supplier costs and high debt will limit the company’s ability to generate expected cash flow.

Boeing Stock Performance

Shares of Boeing stock traded up $1.86 during trading on Wednesday, reaching $199.58. The company's stock had a trading volume of 10,001,793 shares, compared to its average volume of 6,658,634. The company has a 50-day moving average price of $215.44 and a two-hundred day moving average price of $217.82. The Boeing Company has a fifty-two week low of $176.77 and a fifty-two week high of $254.35. The firm has a market cap of $157.74 billion, a PE ratio of 86.40 and a beta of 1.21. The company has a current ratio of 1.14, a quick ratio of 0.33 and a debt-to-equity ratio of 6.77.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.42). Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.The business had revenue of $24.56 billion for the quarter, compared to analyst estimates of $24.26 billion. During the same quarter in the prior year, the company earned ($1.24) EPS. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. On average, analysts forecast that The Boeing Company will post -0.91 EPS for the current year.

About Boeing

The Boeing Company is a global aerospace company that designs, manufactures and services commercial airplanes, military aircraft, satellites, space systems and other aerospace products. Its principal business areas include commercial airplanes, defense and security, and aftermarket services that support aircraft operations throughout their life cycles.

Boeing's commercial portfolio includes the 737, 767, 777 and 787 families of jetliners, while its defense and space operations provide products and services for the U.S.

Want to see what other hedge funds are holding BA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Boeing Company (NYSE:BA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.