Welch Capital Partners LLC NY Invests $6.14 Million in The Boeing Company $BA

Key Points

• Welch Capital Partners LLC NY purchased 28,384 Boeing shares worth approximately $6.14 million in the second quarter, making Boeing its eighth-largest holding at about 1.2% of the portfolio. Institutional investors collectively own 64.82% of Boeing’s stock.
• Boeing faces labor-related uncertainty as roughly 17,000 engineers and technical workers vote on a proposed four-year contract; a rejection could lead to a strike and disrupt production, certification and deliveries. Potential positives include a proposed $4.5 billion Qatar KC-46A tanker sale and a strategic transaction involving Archer Aviation.
• Boeing shares opened at $214.20, down 0.4%, after the company reported a quarterly loss of $0.76 per share versus the expected $0.34 loss, although revenue rose 8% year over year to $24.56 billion. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $272.58.

Welch Capital Partners LLC NY purchased a new stake in The Boeing Company (NYSE:BA - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 28,384 shares of the aircraft producer's stock, valued at approximately $6,144,000. Boeing makes up about 1.2% of Welch Capital Partners LLC NY's investment portfolio, making the stock its 8th largest holding.

Several other hedge funds also recently added to or reduced their stakes in the stock. Measured Wealth Private Client Group LLC purchased a new stake in shares of Boeing in the third quarter worth about $25,000. Strive Financial Group LLC purchased a new stake in shares of Boeing during the 4th quarter valued at about $25,000. Ares Financial Consulting LLC acquired a new position in Boeing during the 4th quarter worth approximately $26,000. CrossGen Wealth LLC acquired a new position in Boeing during the 4th quarter worth approximately $26,000. Finally, Strategic Wealth Advisors LLC purchased a new position in Boeing in the 4th quarter worth approximately $27,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: The U.S. State Department approved a potential $4.5 billion sale of KC-46A tanker aircraft to Qatar. The approval supports Boeing’s defense backlog, although the transaction still requires finalization. US approves potential $4.5B sale of Boeing KC-46A tankers to Qatar
• Positive Sentiment: Boeing’s agreement to sell or transfer businesses including Wisk Aero, Insitu and SkyGrid to Archer Aviation, while taking a strategic stake in Archer, could generate cash and provide exposure to autonomous and electric aviation markets. However, the deal’s financial impact and execution remain uncertain. Archer Aviation bets big on becoming more than an air taxi company
• Neutral Sentiment: AerCap delivered its tenth Boeing 787 to Grupo Aeromexico, marking its 100th 787 delivery from its direct order book. The milestone signals continuing customer demand for the Dreamliner but is not a new Boeing order or immediate revenue catalyst. AerCap Holdings compared with Boeing
• Negative Sentiment: Voting ends on Boeing’s proposed four-year contract with the Society of Professional Engineering Employees in Aerospace, representing roughly 17,000 engineers and technical workers. A rejection could authorize a strike after the current contracts expire on October 6, raising concerns about production, certification and delivery schedules. Results were expected Friday afternoon. Boeing white-collar union contract vote results expected today
• Negative Sentiment: The labor uncertainty is outweighing recent operating progress, including higher commercial deliveries and efforts to increase 737 production. Investors appear concerned that a work stoppage could interrupt Boeing’s recovery. Boeing slides as labor vote uncertainty outweighs operational progress
• Negative Sentiment: Boeing is advancing repairs to Air Force One, but window replacement and interior work could threaten the program’s schedule, adding another execution risk to the company’s defense business. Boeing advances Air Force One repairs

Boeing Stock Down 0.4%

Shares of NYSE:BA opened at $214.20 on Friday. The stock has a market capitalization of $169.30 billion, a price-to-earnings ratio of 92.73 and a beta of 1.21. The Boeing Company has a 1-year low of $176.77 and a 1-year high of $254.35. The company's fifty day moving average is $222.11 and its two-hundred day moving average is $222.26. The company has a debt-to-equity ratio of 6.77, a quick ratio of 0.33 and a current ratio of 1.14.

Boeing (NYSE:BA - Get Free Report) last posted its earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.42). The company had revenue of $24.56 billion during the quarter, compared to the consensus estimate of $24.26 billion. Boeing had a net margin of 2.41% and a negative return on equity of 346.82%. The business's quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.24) earnings per share. Equities analysts anticipate that The Boeing Company will post -0.87 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BA. UBS Group started coverage on shares of Boeing in a research note on Tuesday, August 11th. They set a "buy" rating on the stock. William Blair restated an "outperform" rating on shares of Boeing in a research note on Tuesday, July 28th. The Goldman Sachs Group lowered shares of Boeing from a "buy" rating to a "hold" rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. lifted their price target on shares of Boeing from $270.00 to $290.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. Finally, Cantor Fitzgerald lowered shares of Boeing to a "neutral" rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $272.58.

Boeing Company 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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source