The Boeing Company $BA Shares Sold by Employees Retirement System of Texas

Key Points

• Employees Retirement System of Texas cut its Boeing stake by 60% in the fourth quarter, selling 283,400 shares and leaving it with 189,201 shares valued at about $41.1 million.
• Several Boeing insiders have been buying shares, including directors Mortimer J. Buckley and Bradley D. Tilden, which may signal confidence in the company’s outlook.
• Boeing’s latest results topped expectations, with Q1 EPS of -$0.20 versus estimates of -$0.68 and revenue of $22.22 billion, though analysts still expect a full-year loss.

Employees Retirement System of Texas reduced its stake in The Boeing Company (NYSE:BA - Free Report) by 60.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 189,201 shares of the aircraft producer's stock after selling 283,400 shares during the period. Employees Retirement System of Texas' holdings in Boeing were worth $41,079,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Measured Wealth Private Client Group LLC acquired a new stake in shares of Boeing in the 3rd quarter worth approximately $25,000. Ares Financial Consulting LLC acquired a new stake in shares of Boeing in the 4th quarter worth approximately $26,000. Strategic Wealth Advisors LLC acquired a new stake in shares of Boeing in the 4th quarter worth approximately $27,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Boeing in the 4th quarter worth approximately $28,000. Finally, American National Bank & Trust lifted its stake in shares of Boeing by 124.2% in the 4th quarter. American National Bank & Trust now owns 139 shares of the aircraft producer's stock worth $30,000 after acquiring an additional 77 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing News Roundup

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: National Airlines took delivery of its second Boeing 777 Freighter, underscoring continued demand for Boeing cargo aircraft and supporting Boeing’s order/backlog narrative. National Airlines Continues Strategic Fleet Expansion with Delivery of Second Boeing 777F
• Positive Sentiment: Boeing Saudi Arabia and GACA launched an advanced air mobility feasibility study with SkyGrid and KAUST, which could help Boeing build future opportunities in emerging aviation markets. Boeing Saudi Arabia and GACA launch AAM Airspace and Operational Feasibility Analysis with support from SkyGrid, and KAUST
• Positive Sentiment: A Boeing director disclosed insider buying of about $299,345, a signal investors often view as a vote of confidence in the company’s outlook. Insider Buying: Boeing NYSE: BA Director Buys $299,345.00 in Stock
• Neutral Sentiment: Analyst commentary comparing Boeing with Lockheed Martin and long-term think pieces on Boeing’s decade-ahead prospects were broadly valuation-focused and are unlikely to move the stock on their own. BA vs. LMT: Which Aerospace-Defense Giant Offers Better Value Today?
• Negative Sentiment: SpaceX won additional NASA crew mission work while Boeing lost out, reinforcing concerns that Boeing is falling behind in key space-related programs. SpaceX Wins Where Boeing Loses: NASA Hands Musk-Led Company More Crew Missions
• Negative Sentiment: Reports that China only bought 200 Boeing planes were seen as disappointing, suggesting softer-than-hoped demand from a major market. The Disappointing Boeing Deal: Why China Only Bought 200 Planes

Insider Buying and Selling

In related news, Director Mortimer J. Buckley acquired 2,230 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were purchased at an average cost of $224.20 per share, with a total value of $499,966.00. Following the completion of the transaction, the director owned 4,430 shares of the company's stock, valued at approximately $993,206. This trade represents a 101.36% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bradley D. Tilden acquired 1,370 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average cost of $218.50 per share, for a total transaction of $299,345.00. Following the completion of the transaction, the director directly owned 1,370 shares of the company's stock, valued at $299,345. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BA. Royal Bank Of Canada upped their price target on shares of Boeing from $265.00 to $275.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 28th. TD Cowen reiterated a "buy" rating on shares of Boeing in a report on Wednesday, January 28th. Vertical Research reiterated a "buy" rating and issued a $281.00 target price on shares of Boeing in a report on Tuesday, January 27th. Wolfe Research reiterated an "outperform" rating and issued a $275.00 target price on shares of Boeing in a report on Thursday, April 23rd. Finally, Weiss Ratings downgraded shares of Boeing from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $259.80.

Boeing Stock Up 0.1%

BA stock opened at $219.25 on Wednesday. The Boeing Company has a 52-week low of $176.77 and a 52-week high of $254.35. The company's 50 day simple moving average is $217.81 and its 200-day simple moving average is $219.01. 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 firm has a market capitalization of $172.83 billion, a P/E ratio of 106.43 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) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.68) by $0.48. The firm had revenue of $22.22 billion for the quarter, compared to analyst estimates of $22.15 billion. During the same quarter in the prior year, the firm earned ($0.49) EPS. The firm's revenue was up 14.0% compared to the same quarter last year. As a group, equities research analysts anticipate that The Boeing Company will post -0.15 EPS for the current year.

Boeing 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.

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.