BI Asset Management Fondsmaeglerselskab A S Acquires 44,842 Shares of The Boeing Company $BA

BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of The Boeing Company (NYSE:BA) by 104.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 87,581 shares of the aircraft producer’s stock after purchasing an additional 44,842 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Boeing were worth $19,016,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BA. Measured Wealth Private Client Group LLC bought a new position in shares of Boeing during the third quarter valued at approximately $25,000. Ares Financial Consulting LLC bought a new position in shares of Boeing during the fourth quarter valued at approximately $26,000. Strategic Wealth Advisors LLC bought a new position in shares of Boeing during the fourth quarter valued at approximately $27,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Boeing during the fourth quarter valued at approximately $28,000. Finally, American National Bank & Trust raised its holdings in shares of Boeing by 124.2% during the fourth quarter. American National Bank & Trust now owns 139 shares of the aircraft producer’s stock valued at $30,000 after acquiring an additional 77 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Trading Down 0.8%

NYSE BA opened at $215.72 on Friday. The Boeing Company has a 12 month low of $176.77 and a 12 month high of $254.35. The stock has a market cap of $170.05 billion, a P/E ratio of 104.72 and a beta of 1.19. The stock’s fifty day moving average price is $220.80 and its 200-day moving average price is $220.31. The company has a current ratio of 1.18, a quick ratio of 0.35 and a debt-to-equity ratio of 7.42.

Boeing (NYSE:BA) last released its earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.48. The company had revenue of $22.22 billion during the quarter, compared to analysts’ expectations of $22.15 billion. During the same period in the prior year, the company posted ($0.49) earnings per share. The company’s revenue was up 14.0% on a year-over-year basis. As a group, equities analysts forecast 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 bought 1,370 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average cost of $218.50 per share, with a total value of $299,345.00. Following the completion of the purchase, the director owned 1,370 shares in the company, valued at approximately $299,345. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on BA shares. Tigress Financial upped their target price on Boeing from $290.00 to $295.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Jefferies Financial Group reiterated a “buy” rating on shares of Boeing in a report on Wednesday, March 4th. Wolfe Research reiterated an “outperform” rating and issued a $275.00 price objective on shares of Boeing in a report on Thursday, April 23rd. Wells Fargo & Company initiated coverage on Boeing in a report on Wednesday, April 1st. They issued an “overweight” rating and a $250.00 price objective for the company. Finally, Weiss Ratings downgraded Boeing from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $259.80.

Key Stories Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing said it will start building 737 MAX jets on a new final assembly line in Everett, Washington, on July 6, a sign that the company is getting closer to ramping production and potentially lifting output toward 52 jets per month. Boeing to start 737 Max production on new assembly line July 6, CEO says
• Positive Sentiment: Boeing delivered the first two 787 Dreamliners to Riyadh Air, reinforcing steady commercial aircraft demand and giving investors another concrete delivery milestone. Boeing Delivers Riyadh Air’s First Two 787 Dreamliner Jets
• Positive Sentiment: Reports that China may consider additional aircraft purchases, along with interest from airlines such as Qantas and Singapore Airlines in wide-body orders, are supporting the view that Boeing could benefit from stronger future demand. China Considering Further Aircraft Purchases, Boeing Stock (NYSE:BA) Jumps
• Neutral Sentiment: Analyst commentary continues to highlight Boeing’s improving delivery momentum and large commercial backlog, which supports the long-term outlook but does not appear to be a direct catalyst today. Can Boeing’s Commercial Aircraft Delivery Momentum Lift Performance?
• Negative Sentiment: A German investigation has been opened into the Boeing 787 nose-gear collapse in Frankfurt, and reports say several workers were injured, adding to safety concerns around the 787 program. German investigators launch probe into Boeing 787 incident in Frankfurt
• Negative Sentiment: Separate reports on the Frankfurt 787 incident and the resulting injuries are likely weighing on sentiment because they revive concerns about Boeing’s quality-control and reliability record. Several injured in Boeing 787 nose-gear collapse in Frankfurt
• Negative Sentiment: Even with the production and delivery updates, Boeing shares are also being pressured by a broader market rotation away from riskier names, helping explain why the stock is under pressure despite the company-specific positives. What’s Going On With Boeing Stock Friday?

About Boeing

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.