Arax Advisory Partners Reduces Holdings in The Boeing Company $BA

Arax Advisory Partners lowered its stake in The Boeing Company (NYSE:BA) by 45.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 10,212 shares of the aircraft producer’s stock after selling 8,474 shares during the period. Arax Advisory Partners’ holdings in Boeing were worth $2,217,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BA. Brown Advisory Inc. boosted its holdings in shares of Boeing by 1.1% in the 4th quarter. Brown Advisory Inc. now owns 41,717 shares of the aircraft producer’s stock valued at $9,058,000 after buying an additional 463 shares during the period. Baldwin Investment Management LLC acquired a new position in shares of Boeing in the 4th quarter valued at about $488,000. Bollard Group LLC boosted its holdings in shares of Boeing by 5,358.3% in the 4th quarter. Bollard Group LLC now owns 1,310 shares of the aircraft producer’s stock valued at $284,000 after buying an additional 1,286 shares during the period. 1 North Wealth Services LLC acquired a new position in Boeing during the 4th quarter valued at about $27,000. Finally, Altrafin AG acquired a new position in Boeing during the 4th quarter valued at about $428,000. Institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

BA has been the subject of a number of analyst reports. Citigroup boosted their target price on shares of Boeing from $256.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Wolfe Research reiterated an “outperform” rating and issued a $275.00 target price on shares of Boeing in a report on Thursday, April 23rd. Weiss Ratings downgraded shares of Boeing from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, April 24th. Wells Fargo & Company initiated coverage on shares of Boeing in a report on Wednesday, April 1st. They issued an “overweight” rating and a $250.00 target price on the stock. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Boeing in a report on Wednesday, March 4th. Two equities 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $262.32.

Boeing Stock Up 4.6%

Boeing stock opened at $229.22 on Tuesday. The firm has a market cap of $180.70 billion, a PE ratio of 111.27 and a beta of 1.20. 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 firm’s 50 day moving average price is $223.20 and its two-hundred day moving average price is $222.01. The Boeing Company has a twelve month low of $176.77 and a twelve month high of $254.35.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.48. The company had revenue of $22.22 billion during the quarter, compared to analyst estimates of $22.15 billion. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.49) EPS. On average, research analysts predict that The Boeing Company will post -0.15 EPS for the current fiscal year.

Key Stories Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Falling oil prices and a broad risk-on rally tied to the U.S.-Iran ceasefire improved sentiment across aerospace and airline names, helping boost Boeing stock. Stock Market Today: Dow Jumps 600 Points On U.S.-Iran Deal; Chip Companies, Boeing Take Off (Live Coverage)
• Positive Sentiment: Reports that Boeing is out of the U.S. Navy trainer competition may be viewed as a disciplined move to focus on higher-value programs and preserve capital for core production and defense priorities. Boeing Out of United States Navy Trainer Program, Boeing Stock (NYSE:BA) Jumps
• Positive Sentiment: Recent operational updates show Boeing investing $2.35 billion to expand capacity in Wichita, Kansas, while May aircraft deliveries improved and the U.S. Air Force backed Boeing’s updated KC-46A tanker vision system, supporting the case for improving execution in both commercial and defense businesses. Boeing Updates Capacity And Defense Progress As Shares Trade Below Targets
• Neutral Sentiment: Social-media and market commentary continues to point to production-ramp hopes and FAA approval expectations as potential longer-term catalysts, but near-term volatility remains tied to delivery timing and program execution. Boeing Stock (BA) Opinions on Production Ramp and FAA Approvals

Insider Activity

In related news, Director Bradley D. Tilden purchased 1,370 shares of Boeing stock in a transaction on Wednesday, May 20th. The stock was purchased at an average cost of $218.50 per share, with a total value of $299,345.00. Following the acquisition, the director directly owned 1,370 shares in the company, valued at approximately $299,345. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.10% of the company’s stock.

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.