Patten & Patten Inc. TN Boosts Holdings in The Boeing Company $BA

Patten & Patten Inc. TN lifted its stake in The Boeing Company (NYSE:BA) by 7.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,100 shares of the aircraft producer’s stock after purchasing an additional 2,572 shares during the quarter. Patten & Patten Inc. TN’s holdings in Boeing were worth $7,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Purus Wealth Management LLC raised its position in shares of Boeing by 3.6% in the 4th quarter. Purus Wealth Management LLC now owns 1,177 shares of the aircraft producer’s stock worth $256,000 after purchasing an additional 41 shares during the last quarter. West Wealth Group LLC increased its holdings in Boeing by 0.6% in the 4th quarter. West Wealth Group LLC now owns 7,279 shares of the aircraft producer’s stock worth $1,581,000 after buying an additional 42 shares in the last quarter. First Heartland Consultants Inc. increased its holdings in Boeing by 1.1% in the 4th quarter. First Heartland Consultants Inc. now owns 4,062 shares of the aircraft producer’s stock worth $882,000 after buying an additional 43 shares in the last quarter. Global Financial Private Client LLC increased its holdings in Boeing by 1.1% in the 4th quarter. Global Financial Private Client LLC now owns 4,025 shares of the aircraft producer’s stock worth $874,000 after buying an additional 44 shares in the last quarter. Finally, North Star Investment Management Corp. increased its holdings in Boeing by 1.6% in the 4th quarter. North Star Investment Management Corp. now owns 2,833 shares of the aircraft producer’s stock worth $615,000 after buying an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Key Stories Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: CEO Kelly Ortberg is reportedly set to accompany President Trump on a China visit, which could improve Boeing’s chances of landing major aircraft orders. Boeing CEO Kelly Ortberg set to join Trump on China visit next week
• Positive Sentiment: Reports that Trump invited Boeing’s CEO to Beijing and that Boeing’s China order hopes are reviving have fueled optimism about future demand. Boeing’s China Order Hopes Revive As Trump Invites CEO To Beijing Visit: Report
• Positive Sentiment: Boeing continues to benefit from fresh commercial wins and program momentum, including recent aircraft orders and training-related deals with airline customers. Should Boeing’s Integrated Jet Orders and Training Deals Prompt Action From Boeing (BA) Investors?
• Positive Sentiment: Ukraine’s approval to pursue up to $374 million in Boeing JDAM bomb kits adds a modest defense-related tailwind. Ukraine Gets Approval For Up To $374 Million Boeing Bomb Kit Purchase
• Neutral Sentiment: Boeing was mentioned in broader trade and China-visit coverage, but those headlines mainly reinforce the same theme of possible diplomacy-driven order opportunities. White House scales back CEO group for China trip
• Neutral Sentiment: DP Aircraft I’s refinancing of a Boeing 787 fleet is a positive sign for the aircraft’s financing environment, but it is not a direct earnings driver for Boeing. DP Aircraft I Secures Long-Term Refinancing for Boeing 787 Fleet
• Neutral Sentiment: News that Boeing pulled out of the Invictus Games is unlikely to materially affect the company’s financial outlook. Boeing Stock (NYSE:BA) Gains After Pulling Out of Invictus Games

Analyst Upgrades and Downgrades

BA has been the subject of several research analyst reports. Jefferies Financial Group reiterated a “buy” rating on shares of Boeing in a report on Wednesday, March 4th. Tigress Financial lifted their price objective on Boeing from $290.00 to $295.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. UBS Group lifted their price objective on Boeing from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Susquehanna reiterated a “positive” rating and issued a $280.00 price objective on shares of Boeing in a report on Thursday, January 15th. Finally, Wells Fargo & Company initiated coverage on Boeing in a report on Wednesday, April 1st. They issued an “overweight” rating and a $250.00 price objective for the company. 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 three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $259.60.

Boeing Trading Up 2.9%

Boeing stock opened at $237.65 on Friday. The business has a 50-day simple moving average of $216.90 and a two-hundred day simple moving average of $217.70. The company has a market cap of $187.34 billion, a P/E ratio of 115.36 and a beta of 1.21. The Boeing Company has a 52-week low of $176.77 and a 52-week high of $254.35. The company has a quick ratio of 0.35, a current ratio of 1.18 and a debt-to-equity ratio of 7.42.

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

Insider Buying and Selling at Boeing

In other news, Director Mortimer J. Buckley purchased 2,230 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was acquired at an average cost of $224.20 per share, for a total transaction of $499,966.00. Following the purchase, the director directly owned 4,430 shares in the company, valued at $993,206. This trade represents a 101.36% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Ann M. Schmidt sold 6,281 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $243.37, for a total value of $1,528,606.97. Following the sale, the senior vice president owned 13,978 shares of the company’s stock, valued at approximately $3,401,825.86. This represents a 31.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.10% of the company’s stock.

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.