Absher Wealth Management LLC Grows Stock Holdings in The Boeing Company $BA

Absher Wealth Management LLC grew its holdings in The Boeing Company (NYSE:BA) by 2.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 124,158 shares of the aircraft producer’s stock after acquiring an additional 2,839 shares during the quarter. Boeing comprises 2.9% of Absher Wealth Management LLC’s investment portfolio, making the stock its 21st biggest holding. Absher Wealth Management LLC’s holdings in Boeing were worth $24,711,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BA. Princeton Capital Management LLC grew its stake in 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. Rakuten Investment Management Inc. lifted its stake in Boeing by 502.3% in the fourth quarter. Rakuten Investment Management Inc. now owns 103,099 shares of the aircraft producer’s stock worth $22,398,000 after purchasing an additional 85,982 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in Boeing in the 1st quarter worth approximately $7,961,000. Vaughan Nelson Investment Management L.P. bought a new stake in Boeing in the 4th quarter worth $55,787,000. Finally, Patriot Financial Group Insurance Agency LLC raised its position in Boeing by 103.8% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 11,240 shares of the aircraft producer’s stock valued at $2,237,000 after purchasing an additional 5,726 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BA has been the topic of a number of research analyst reports. Citigroup upped their target price on Boeing from $256.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Morgan Stanley lifted their price target on shares of Boeing from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 23rd. Tigress Financial raised their price objective on shares of Boeing from $290.00 to $295.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings downgraded Boeing from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, April 24th. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $275.00 target price on shares of Boeing in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $261.61.

Boeing Stock Performance

NYSE:BA opened at $222.34 on Monday. 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 Boeing Company has a fifty-two week low of $176.77 and a fifty-two week high of $254.35. The firm has a market capitalization of $175.27 billion, a PE ratio of 107.93 and a beta of 1.21. The stock’s fifty day moving average is $223.28 and its 200 day moving average is $224.84.

Boeing (NYSE:BA) last announced its quarterly earnings data 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 the consensus estimate of $22.15 billion. The firm’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 earned ($0.49) EPS. On average, sell-side analysts anticipate that The Boeing Company will post -0.1 earnings per share for the current year.

Key Stories Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing is set to open its fourth 737 MAX assembly line in Everett, Washington, signaling progress on a production ramp as demand for the jet stays strong. Market Chatter: Boeing Opens Fourth 737 MAX Assembly Line to Support Production Ramp
• Positive Sentiment: The FAA is expected to certify the 737 MAX 7 later this month, a key step that could unlock 258 delayed Southwest orders and help Boeing clear another major approval hurdle. Boeing’s MAX 7 Delay May Finally End
• Positive Sentiment: Reports also say the FAA may soon restore Boeing’s final 737 safety signoff authority, which would reduce a major bottleneck in deliveries. Boeing Nears 737 MAX 7 Approval as FAA Eyes Key Authority Restoration
• Positive Sentiment: Philippine Airlines is reportedly preparing to order 15 Boeing 787-10 aircraft, which would add to Boeing’s backlog and support long-term widebody demand. Philippine Air to order 15 Boeing 787-10 and nine Airbus A350-1000
• Neutral Sentiment: Boeing and Bahir Dar University announced a partnership to establish an aviation innovation center, a strategic initiative that is unlikely to move shares in the near term. Bahir Dar University and Boeing partner to establish Aviation Innovation Center
• Negative Sentiment: Two recent incidents involving Boeing 737 MAX aircraft have revived headline risk, with reports of a broken or detached window on a Ryanair flight that injured a passenger and forced an emergency landing. Boeing 737 Makes Emergency Landing After Broken Window Injures Passenger
• Negative Sentiment: A separate investigation linked a misplaced locking pin to a Boeing 787 nose gear collapse in Frankfurt, reinforcing concerns about quality control and oversight. German investigators link misplaced pin to Boeing 787 incident

Insider Buying and Selling

In other news, Director Bradley D. Tilden bought 1,370 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average cost of $218.50 per share, with a total value of $299,345.00. Following the transaction, the director directly owned 1,370 shares in the company, valued at approximately $299,345. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.10% of the stock is owned by insiders.

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.