Pacer Advisors Inc. Sells 13,695 Shares of The Boeing Company $BA

Pacer Advisors Inc. trimmed its holdings in The Boeing Company (NYSE:BA) by 17.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,557 shares of the aircraft producer’s stock after selling 13,695 shares during the period. Pacer Advisors Inc.’s holdings in Boeing were worth $14,017,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Russell Investments Group Ltd. boosted its position in shares of Boeing by 41.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 223,824 shares of the aircraft producer’s stock worth $48,316,000 after acquiring an additional 65,216 shares in the last quarter. Fisher Asset Management LLC increased its stake in Boeing by 3.3% in the third quarter. Fisher Asset Management LLC now owns 5,505,040 shares of the aircraft producer’s stock valued at $1,188,153,000 after acquiring an additional 177,597 shares during the last quarter. Princeton Capital Management LLC raised its position 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 purchasing an additional 5,381 shares in the last quarter. Rakuten Investment Management Inc. raised its position in Boeing by 502.3% during the fourth quarter. Rakuten Investment Management Inc. now owns 103,099 shares of the aircraft producer’s stock valued at $22,398,000 after purchasing an additional 85,982 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in Boeing during the fourth quarter valued at approximately $55,787,000. 64.82% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Bradley D. Tilden bought 1,370 shares of the stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.10% of the stock is owned by corporate insiders.

Boeing Stock Performance

Shares of Boeing stock opened at $223.51 on Friday. The company’s 50 day moving average price is $224.23 and its two-hundred day moving average price is $222.81. The firm has a market capitalization of $176.19 billion, a P/E ratio of 108.50 and a beta of 1.19. The Boeing Company has a fifty-two week low of $176.77 and a fifty-two week high of $254.35. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.18 and a quick ratio of 0.35.

Boeing (NYSE:BA) last announced its quarterly earnings results 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 company had revenue of $22.22 billion for the quarter, compared to analyst estimates of $22.15 billion. During the same quarter last year, the company posted ($0.49) earnings per share. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. On average, equities analysts forecast that The Boeing Company will post -0.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BA. Wells Fargo & Company began coverage on Boeing in a report on Wednesday, April 1st. They issued an “overweight” rating and a $250.00 target price on the stock. Tigress Financial boosted their price target on 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 report on Friday, April 24th. Wolfe Research reaffirmed an “outperform” rating and issued a $275.00 price objective on shares of Boeing in a research note on Thursday, April 23rd. Finally, Morgan Stanley lifted their target price on Boeing from $245.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $262.32.

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.