Wellington Shields Capital Management LLC Buys 6,313 Shares of The Boeing Company $BA

Key Points

• Wellington Shields Capital Management increased its Boeing stake by 14.1% in the fourth quarter, buying 6,313 shares and bringing its total holdings to 51,127 shares worth about $11.1 million.
• Boeing has recently benefited from several positive catalysts, including a jury verdict in its favor in the 737 MAX fraud case, insider buying by a director, and progress on deliveries to Riyadh Air.
• The company’s latest results topped expectations, with Q1 earnings of -$0.20 per share versus an expected -$0.68 and revenue of $22.22 billion, while analysts currently rate the stock a Moderate Buy with a consensus target price of $259.80.

Wellington Shields Capital Management LLC grew its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 14.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,127 shares of the aircraft producer's stock after acquiring an additional 6,313 shares during the quarter. Boeing comprises approximately 1.6% of Wellington Shields Capital Management LLC's portfolio, making the stock its 12th biggest position. Wellington Shields Capital Management LLC's holdings in Boeing were worth $11,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fisher Asset Management LLC increased its holdings in shares of Boeing by 3.3% during the third quarter. Fisher Asset Management LLC now owns 5,505,040 shares of the aircraft producer's stock valued at $1,188,153,000 after acquiring an additional 177,597 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Boeing by 41.1% during the third quarter. Russell Investments Group Ltd. now owns 223,824 shares of the aircraft producer's stock valued at $48,316,000 after acquiring an additional 65,216 shares in the last quarter. Princeton Capital Management LLC increased its holdings in shares of Boeing by 78.3% during the fourth quarter. Princeton Capital Management LLC now owns 12,249 shares of the aircraft producer's stock valued at $2,660,000 after acquiring an additional 5,381 shares in the last quarter. Granite Investment Partners LLC increased its holdings in shares of Boeing by 1,984.0% during the third quarter. Granite Investment Partners LLC now owns 31,448 shares of the aircraft producer's stock valued at $6,787,000 after acquiring an additional 29,939 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Boeing during the fourth quarter valued at $55,787,000. 64.82% of the stock is currently owned by institutional investors.

Trending Headlines about Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing received a boost from a jury verdict in its favor in a long-running 737 MAX fraud case, reducing a legal risk that had weighed on sentiment. Boeing found not guilty of $153M 737 MAX fraud case
• Positive Sentiment: Saudi Arabia’s Riyadh Air is moving ahead with its launch and will take its first Boeing jets this week, reinforcing backlog and delivery optimism. Saudi Arabia pushes ahead with launch of new airline despite Iran war
• Positive Sentiment: Insider buying added a constructive signal, with a Boeing director purchasing nearly $300,000 of stock. Insider Buying: Boeing NYSE: BA Director Buys $299,345.00 in Stock
• Positive Sentiment: Several recent analyses argue Boeing remains attractively valued relative to peers, and some analysts view the recent weakness as an entry point. BA vs. LMT: Which Aerospace-Defense Giant Offers Better Value Today?
• Neutral Sentiment: New commentary on Boeing’s long-term outlook says the company likely needs a new narrow-body aircraft over the next decade, but the timeline and execution remain uncertain. Where Will Boeing Stock Be in 10 Years?
• Negative Sentiment: Investor disappointment is centered on China, where Boeing reportedly secured only 200 aircraft orders, less than some had hoped for after trade discussions. The Disappointing Boeing Deal: Why China Only Bought 200 Planes

Boeing Trading Up 0.1%

Shares of NYSE:BA opened at $219.18 on Tuesday. The stock has a market capitalization of $172.78 billion, a price-to-earnings ratio of 106.40 and a beta of 1.21. The company has a debt-to-equity ratio of 7.42, a quick ratio of 0.35 and a current ratio of 1.18. The stock's 50-day simple moving average is $217.63 and its two-hundred day simple moving average is $218.86. The Boeing Company has a 52-week low of $176.77 and a 52-week high of $254.35.

Boeing (NYSE:BA - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.48. The firm had revenue of $22.22 billion during the quarter, compared to analysts' expectations of $22.15 billion. The company's revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.49) earnings per share. Analysts expect that The Boeing Company will post -0.15 EPS for the current year.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on BA. Wells Fargo & Company began coverage on Boeing in a research report on Wednesday, April 1st. They set an "overweight" rating and a $250.00 price objective on the stock. Jefferies Financial Group reaffirmed a "buy" rating on shares of Boeing in a research report on Wednesday, March 4th. JPMorgan Chase & Co. increased their price objective on Boeing from $245.00 to $270.00 and gave the company an "overweight" rating in a research report on Wednesday, January 28th. Argus raised Boeing to a "hold" rating in a research report on Monday, February 2nd. Finally, Weiss Ratings cut Boeing from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, April 24th. Two research 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, the stock has an average rating of "Moderate Buy" and a consensus target price of $259.80.

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.

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