Wealthfront Advisers LLC Raises Holdings in The Boeing Company $BA

Wealthfront Advisers LLC lifted its holdings in The Boeing Company (NYSE:BA) by 9.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,874 shares of the aircraft producer’s stock after buying an additional 7,062 shares during the quarter. Wealthfront Advisers LLC’s holdings in Boeing were worth $18,534,000 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. Wallace Advisory Group LLC boosted its position in shares of Boeing by 1.2% during the 2nd quarter. Wallace Advisory Group LLC now owns 3,570 shares of the aircraft producer’s stock worth $748,000 after purchasing an additional 44 shares in the last quarter. Blue Barn Wealth LLC lifted its stake in shares of Boeing by 1.8% in the second quarter. Blue Barn Wealth LLC now owns 2,594 shares of the aircraft producer’s stock valued at $544,000 after purchasing an additional 46 shares during the period. N.E.W. Advisory Services LLC boosted its holdings in Boeing by 3.1% during the third quarter. N.E.W. Advisory Services LLC now owns 1,540 shares of the aircraft producer’s stock worth $332,000 after buying an additional 46 shares in the last quarter. Motco boosted its holdings in Boeing by 5.4% during the third quarter. Motco now owns 921 shares of the aircraft producer’s stock worth $199,000 after buying an additional 47 shares in the last quarter. Finally, Encompass Wealth Advisors LLC grew its position in Boeing by 0.9% during the third quarter. Encompass Wealth Advisors LLC now owns 5,045 shares of the aircraft producer’s stock worth $1,089,000 after buying an additional 47 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Down 0.8%

Shares of NYSE:BA opened at $242.64 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 1.19 and a debt-to-equity ratio of 8.37. The company has a market capitalization of $190.56 billion, a P/E ratio of 120.72 and a beta of 1.15. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $254.35. The stock’s fifty day simple moving average is $226.67 and its 200-day simple moving average is $219.09.

Boeing (NYSE:BA) last released its earnings results on Tuesday, January 27th. The aircraft producer reported $9.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $10.32. The firm had revenue of $23.95 billion during the quarter, compared to analysts’ expectations of $22.41 billion. During the same quarter last year, the company posted ($5.90) earnings per share. Boeing’s revenue for the quarter was up 57.1% on a year-over-year basis. As a group, equities research analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BA shares. Morgan Stanley set a $245.00 price target on shares of Boeing in a research report on Wednesday, January 28th. Vertical Research reaffirmed a “buy” rating and issued a $281.00 price objective on shares of Boeing in a research note on Tuesday, January 27th. Citigroup reiterated a “buy” rating on shares of Boeing in a research report on Thursday, February 5th. Wolfe Research reissued an “outperform” rating on shares of Boeing in a report on Tuesday, January 27th. Finally, TD Cowen restated a “buy” rating on shares of Boeing in a research report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.14.

Insider Buying and Selling

In other Boeing news, SVP Dana S. Deasy acquired 554 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were acquired at an average price of $178.88 per share, for a total transaction of $99,099.52. Following the completion of the acquisition, the senior vice president directly owned 28,442 shares of the company’s stock, valued at $5,087,704.96. This trade represents a 1.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Howard E. Mckenzie sold 10,497 shares of Boeing stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $233.99, for a total value of $2,456,193.03. Following the completion of the sale, the executive vice president directly owned 14,692 shares of the company’s stock, valued at approximately $3,437,781.08. This represents a 41.67% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.09% of the stock is owned by company insiders.

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.