BI Asset Management Fondsmaeglerselskab A S Sells 58,575 Shares of The Boeing Company $BA

BI Asset Management Fondsmaeglerselskab A S reduced its position in The Boeing Company (NYSE:BA) by 66.9% in the first quarter, HoldingsChannel.com reports. The firm owned 29,006 shares of the aircraft producer’s stock after selling 58,575 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Boeing were worth $5,773,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BA. Russell Investments Group Ltd. boosted its stake 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 purchasing an additional 65,216 shares during the period. Fisher Asset Management LLC lifted its holdings in Boeing by 3.3% during the 3rd quarter. Fisher Asset Management LLC now owns 5,505,040 shares of the aircraft producer’s stock valued at $1,188,153,000 after buying an additional 177,597 shares in the last quarter. Princeton Capital Management LLC grew its stake in Boeing by 78.3% in the 4th quarter. Princeton Capital Management LLC now owns 12,249 shares of the aircraft producer’s stock worth $2,660,000 after acquiring an additional 5,381 shares in the last quarter. Rakuten Investment Management Inc. raised its stake in shares of 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 acquiring an additional 85,982 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new position in Boeing in the fourth quarter worth approximately $55,787,000. Institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

BA opened at $220.93 on Tuesday. The firm has a market capitalization of $174.16 billion, a PE ratio of 107.25 and a beta of 1.20. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.18 and a quick ratio of 0.35. The business’s 50-day moving average is $224.24 and its two-hundred day moving average is $223.18. The Boeing Company has a 1 year low of $176.77 and a 1 year high of $254.35.

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

Analyst Upgrades and Downgrades

BA has been the topic of several research reports. Citigroup raised their price target on Boeing from $256.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Wells Fargo & Company initiated coverage on shares of Boeing in a research report on Wednesday, April 1st. They set an “overweight” rating and a $250.00 target price on the stock. Tigress Financial boosted their price target on shares of Boeing from $290.00 to $295.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Morgan Stanley upped their price target on shares of Boeing from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 23rd. Finally, Wolfe Research reissued an “outperform” rating and set a $275.00 price objective on shares of Boeing in a report on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.32.

Insider Buying and Selling

In other news, Director Bradley D. Tilden bought 1,370 shares of the stock in a transaction on Wednesday, May 20th. The stock was bought at an average cost of $218.50 per share, for a total transaction of $299,345.00. Following the completion of the purchase, the director directly owned 1,370 shares in the company, valued at approximately $299,345. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is owned by insiders.

Boeing 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.