Verition Fund Management LLC Sells 34,798 Shares of The Boeing Company $BA

Key Points

• Verition Fund Management reduced its Boeing stake by 33.2% in the fourth quarter, selling 34,798 shares and ending with 70,098 shares valued at about $15.2 million.
• Several other large investors also adjusted their Boeing positions, while 64.82% of the stock is now held by institutional investors, underscoring continued heavy professional ownership.
• Analysts remain generally bullish on Boeing with a Moderate Buy consensus and an average price target of $262.32, even as opinions vary and Boeing trades up 4.6% around $229.22.

Verition Fund Management LLC cut its stake in The Boeing Company (NYSE:BA - Free Report) by 33.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,098 shares of the aircraft producer's stock after selling 34,798 shares during the quarter. Verition Fund Management LLC's holdings in Boeing were worth $15,220,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BA. Vanguard Group Inc. increased its stake in shares of Boeing by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 70,989,438 shares of the aircraft producer's stock valued at $15,413,227,000 after acquiring an additional 3,460,021 shares during the last quarter. Alyeska Investment Group L.P. increased its stake in Boeing by 245.7% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,252,450 shares of the aircraft producer's stock worth $489,052,000 after purchasing an additional 1,600,909 shares in the last quarter. Deutsche Bank AG increased its stake in Boeing by 47.5% during the 4th quarter. Deutsche Bank AG now owns 2,376,243 shares of the aircraft producer's stock worth $515,930,000 after purchasing an additional 765,197 shares in the last quarter. ING Groep NV increased its stake in Boeing by 2,073.4% during the 4th quarter. ING Groep NV now owns 772,400 shares of the aircraft producer's stock worth $167,703,000 after purchasing an additional 736,861 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in 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 purchasing an additional 533,753 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on BA shares. Morgan Stanley increased their target price on Boeing from $245.00 to $250.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 23rd. Tigress Financial increased their target price on Boeing from $290.00 to $295.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Jefferies Financial Group reissued a "buy" rating on shares of Boeing in a research note on Wednesday, March 4th. Weiss Ratings cut Boeing from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, April 24th. Finally, Wells Fargo & Company started coverage on Boeing in a research note on Wednesday, April 1st. They set an "overweight" rating and a $250.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $262.32.

Boeing Trading Up 4.6%

NYSE BA opened at $229.22 on Tuesday. The company has a market cap of $180.70 billion, a PE ratio of 111.27 and a beta of 1.20. 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 Boeing Company has a 12 month low of $176.77 and a 12 month high of $254.35. The stock has a 50 day moving average of $223.20 and a 200-day moving average of $222.01.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The aircraft producer reported ($0.20) EPS 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 quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.49) EPS. On average, equities research analysts anticipate that The Boeing Company will post -0.15 EPS for the current fiscal year.

Insider Activity at Boeing

In related news, Director Bradley D. Tilden acquired 1,370 shares of the business's stock in a transaction dated Wednesday, May 20th. The stock was bought at an average price of $218.50 per share, with a total value of $299,345.00. Following the acquisition, the director owned 1,370 shares in the company, valued at $299,345. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.10% of the company's stock.

Key Stories Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Falling oil prices and a broad risk-on rally tied to the U.S.-Iran ceasefire improved sentiment across aerospace and airline names, helping boost Boeing stock. Stock Market Today: Dow Jumps 600 Points On U.S.-Iran Deal; Chip Companies, Boeing Take Off (Live Coverage)
• Positive Sentiment: Reports that Boeing is out of the U.S. Navy trainer competition may be viewed as a disciplined move to focus on higher-value programs and preserve capital for core production and defense priorities. Boeing Out of United States Navy Trainer Program, Boeing Stock NYSE: BA Jumps
• Positive Sentiment: Recent operational updates show Boeing investing $2.35 billion to expand capacity in Wichita, Kansas, while May aircraft deliveries improved and the U.S. Air Force backed Boeing’s updated KC-46A tanker vision system, supporting the case for improving execution in both commercial and defense businesses. Boeing Updates Capacity And Defense Progress As Shares Trade Below Targets
• Neutral Sentiment: Social-media and market commentary continues to point to production-ramp hopes and FAA approval expectations as potential longer-term catalysts, but near-term volatility remains tied to delivery timing and program execution. Boeing Stock (BA) Opinions on Production Ramp and FAA Approvals

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.

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