The Boeing Company $BA Stock Position Raised by Integrated Wealth Concepts LLC

Key Points

• Integrated Wealth Concepts LLC increased its Boeing stake by 16% in the second quarter, owning 42,417 shares valued at approximately $9.18 million. Institutional investors collectively hold 64.82% of Boeing’s outstanding shares.
• Analyst sentiment remains positive overall, with Boeing carrying a consensus “Moderate Buy” rating and an average price target of $272.58, despite downgrades to “Hold” or “Neutral” from Wolfe Research and Cantor Fitzgerald.
• Boeing shares opened at $205.01, down 0.7%, while the company reported a quarterly loss of $0.76 per share—worse than the expected $0.34 loss—on revenue of $24.56 billion.

Integrated Wealth Concepts LLC grew its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 16.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,417 shares of the aircraft producer's stock after purchasing an additional 5,862 shares during the period. Integrated Wealth Concepts LLC's holdings in Boeing were worth $9,182,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. California State Teachers Retirement System boosted its holdings in shares of Boeing by 20,689.6% in the second quarter. California State Teachers Retirement System now owns 245,894,334 shares of the aircraft producer's stock worth $53,228,746,000 after buying an additional 244,711,560 shares during the period. Jupiter Topco LLC acquired a new position in Boeing in the 2nd quarter worth approximately $911,878,000. Bank of New York Mellon Corp purchased a new position in Boeing during the 2nd quarter worth approximately $747,763,000. Legal & General Group Plc acquired a new stake in Boeing during the 2nd quarter valued at $710,816,000. Finally, Deutsche Bank AG purchased a new stake in shares of Boeing in the second quarter valued at $539,456,000. Hedge funds and other institutional investors own 64.82% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BA. Wolfe Research downgraded Boeing from an "outperform" rating to a "hold" rating in a report on Tuesday, August 11th. Robert W. Baird set a $300.00 price objective on Boeing in a research note on Wednesday, July 29th. BNP Paribas Exane upgraded Boeing from an "underperform" rating to an "outperform" rating and raised their price objective for the stock from $230.00 to $300.00 in a research report on Monday, August 3rd. Cantor Fitzgerald cut Boeing to a "neutral" rating in a research note on Tuesday, August 11th. Finally, William Blair reiterated an "outperform" rating on shares of Boeing in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, Boeing has a consensus rating of "Moderate Buy" and a consensus target price of $272.58.

Boeing Trading Down 0.7%

NYSE BA opened at $205.01 on Friday. The Boeing Company has a 1-year low of $176.77 and a 1-year high of $254.35. The company has a current ratio of 1.14, a quick ratio of 0.33 and a debt-to-equity ratio of 6.77. The company has a market capitalization of $162.03 billion, a PE ratio of 88.75 and a beta of 1.21. The firm's fifty day simple moving average is $218.81 and its 200-day simple moving average is $219.27.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.42). The firm had revenue of $24.56 billion for the quarter, compared to analysts' expectations of $24.26 billion. Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.Boeing's revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.24) earnings per share. As a group, sell-side analysts anticipate that The Boeing Company will post -0.9 earnings per share for the current fiscal year.

Boeing Profile

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.

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