FengHe Fund Management Pte. Ltd. Invests $35.38 Million in The Boeing Company $BA

FengHe Fund Management Pte. Ltd. acquired a new stake in shares of The Boeing Company (NYSE:BAFree Report) in the third quarter, HoldingsChannel reports. The fund acquired 163,900 shares of the aircraft producer’s stock, valued at approximately $35,375,000. Boeing makes up about 3.2% of FengHe Fund Management Pte. Ltd.’s investment portfolio, making the stock its 14th biggest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of BA. Kingstone Capital Partners Texas LLC bought a new position in shares of Boeing during the second quarter valued at approximately $378,459,000. Vanguard Group Inc. boosted its position in Boeing by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 66,773,360 shares of the aircraft producer’s stock valued at $13,991,022,000 after purchasing an additional 1,118,316 shares during the period. Ninety One UK Ltd bought a new position in Boeing during the 3rd quarter worth $192,734,000. Amundi increased its position in Boeing by 75.5% in the second quarter. Amundi now owns 1,776,634 shares of the aircraft producer’s stock worth $376,700,000 after buying an additional 764,236 shares during the period. Finally, Bessemer Group Inc. lifted its stake in Boeing by 3,581.5% in the second quarter. Bessemer Group Inc. now owns 711,824 shares of the aircraft producer’s stock valued at $149,149,000 after buying an additional 692,489 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

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Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Jefferies Financial Group set a $255.00 price objective on shares of Boeing in a report on Tuesday, September 30th. New Street Research set a $257.00 price target on shares of Boeing in a research note on Tuesday, December 9th. The Goldman Sachs Group reiterated a “buy” rating on shares of Boeing in a research report on Tuesday, December 9th. Royal Bank Of Canada restated an “outperform” rating and issued a $250.00 target price on shares of Boeing in a research report on Monday, September 29th. Finally, Zacks Research raised Boeing from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 2nd. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $235.33.

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Insiders Place Their Bets

In other Boeing news, SVP Dana S. Deasy bought 554 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were bought at an average price of $178.88 per share, for a total transaction of $99,099.52. Following the acquisition, the senior vice president directly owned 28,442 shares of the company’s stock, valued at approximately $5,087,704.96. This trade represents a 1.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Uma M. Amuluru sold 1,366 shares of the stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $197.66, for a total transaction of $270,003.56. Following the completion of the sale, the executive vice president directly owned 14,656 shares of the company’s stock, valued at $2,896,904.96. This trade represents a 8.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.09% of the company’s stock.

Boeing Stock Up 3.1%

Shares of BA stock opened at $234.32 on Friday. The stock has a 50-day simple moving average of $203.97 and a 200 day simple moving average of $215.75. The stock has a market capitalization of $178.10 billion, a P/E ratio of -17.13, a P/E/G ratio of 6.48 and a beta of 1.16. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69.

Boeing (NYSE:BAGet Free Report) last posted its quarterly earnings data on Wednesday, October 29th. The aircraft producer reported ($7.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The company had revenue of $23.27 billion for the quarter, compared to analysts’ expectations of $21.61 billion. During the same period last year, the company earned ($10.44) earnings per share. The business’s revenue for the quarter was up 30.4% on a year-over-year basis. On average, sell-side analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

About Boeing

(Free Report)

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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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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