Advisors Asset Management Inc. Buys 3,684 Shares of The Boeing Company $BA

Advisors Asset Management Inc. grew its stake in shares of The Boeing Company (NYSE:BA) by 25.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 17,906 shares of the aircraft producer’s stock after buying an additional 3,684 shares during the period. Advisors Asset Management Inc.’s holdings in Boeing were worth $3,865,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in BA. Vanguard Group Inc. raised its holdings in Boeing by 1.7% in 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 acquiring an additional 1,118,316 shares in the last quarter. Newport Trust Company LLC grew its holdings in shares of Boeing by 2.5% during the 3rd quarter. Newport Trust Company LLC now owns 29,198,446 shares of the aircraft producer’s stock worth $6,301,901,000 after purchasing an additional 707,490 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Boeing by 2.7% during the second quarter. Geode Capital Management LLC now owns 16,316,838 shares of the aircraft producer’s stock valued at $3,402,073,000 after purchasing an additional 432,026 shares during the period. Fisher Asset Management LLC increased its position in shares of Boeing by 3.8% during the second quarter. Fisher Asset Management LLC now owns 5,327,443 shares of the aircraft producer’s stock valued at $1,116,259,000 after purchasing an additional 196,666 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Boeing by 1.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 4,242,397 shares of the aircraft producer’s stock valued at $888,910,000 after purchasing an additional 44,338 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Stock Up 1.5%

Shares of NYSE BA opened at $242.96 on Friday. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $254.35. The firm’s 50-day simple moving average is $228.92 and its 200 day simple moving average is $219.40. The company has a quick ratio of 0.40, a current ratio of 1.19 and a debt-to-equity ratio of 8.37. The company has a market cap of $190.80 billion, a price-to-earnings ratio of 120.87 and a beta of 1.15.

Boeing (NYSE:BA) last announced its earnings results on Tuesday, January 27th. The aircraft producer reported $9.92 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $10.32. The company had revenue of $23.95 billion during the quarter, compared to the consensus estimate of $22.41 billion. During the same period in the prior year, the firm posted ($5.90) earnings per share. The company’s revenue was up 57.1% on a year-over-year basis. On average, research analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Dana S. Deasy bought 554 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was bought at an average price of $178.88 per share, for a total transaction of $99,099.52. Following the completion of the transaction, the senior vice president directly owned 28,442 shares in the company, valued at $5,087,704.96. The trade was a 1.99% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Uma M. Amuluru sold 2,731 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $236.00, for a total value of $644,516.00. Following the transaction, the executive vice president directly owned 11,925 shares in the company, valued at $2,814,300. This trade represents a 18.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BA shares. New Street Research set a $257.00 price target on shares of Boeing in a research note on Tuesday, December 9th. Weiss Ratings raised shares of Boeing from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday, February 4th. Susquehanna reiterated a “positive” rating and set a $280.00 target price on shares of Boeing in a research report on Thursday, January 15th. Deutsche Bank Aktiengesellschaft cut shares of Boeing from a “buy” rating to a “hold” rating and set a $240.00 target price on the stock. in a research note on Thursday, October 30th. Finally, Loop Capital set a $223.00 price target on shares of Boeing in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $246.14.

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.