NewEdge Wealth LLC Acquires Shares of 6,423 The Boeing Company $BA

NewEdge Wealth LLC acquired a new position in shares of The Boeing Company (NYSE:BA) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,423 shares of the aircraft producer’s stock, valued at approximately $1,390,000.

A number of other institutional investors have also recently bought and sold shares of BA. Vanguard Group Inc. grew its holdings in shares of Boeing by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 70,989,438 shares of the aircraft producer’s stock valued at $15,413,227,000 after buying an additional 3,460,021 shares during the period. Newport Trust Company LLC raised its holdings in shares of Boeing by 1.0% in the fourth quarter. Newport Trust Company LLC now owns 29,485,294 shares of the aircraft producer’s stock valued at $6,401,847,000 after purchasing an additional 286,848 shares during the last quarter. Geode Capital Management LLC increased its stake in Boeing by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 17,025,435 shares of the aircraft producer’s stock valued at $3,679,592,000 after buying an additional 533,753 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Boeing by 2.5% during the fourth quarter. Fisher Asset Management LLC now owns 5,640,900 shares of the aircraft producer’s stock worth $1,224,752,000 after acquiring an additional 135,860 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Boeing by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,370,415 shares of the aircraft producer’s stock valued at $948,905,000 after buying an additional 138,469 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

More Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: The U.S. State Department approved a potential $4.5 billion sale of KC-46A tanker aircraft to Qatar. The approval supports Boeing’s defense backlog, although the transaction still requires finalization. US approves potential $4.5B sale of Boeing KC-46A tankers to Qatar
• Positive Sentiment: Boeing’s agreement to sell or transfer businesses including Wisk Aero, Insitu and SkyGrid to Archer Aviation, while taking a strategic stake in Archer, could generate cash and provide exposure to autonomous and electric aviation markets. However, the deal’s financial impact and execution remain uncertain. Archer Aviation bets big on becoming more than an air taxi company
• Neutral Sentiment: AerCap delivered its tenth Boeing 787 to Grupo Aeromexico, marking its 100th 787 delivery from its direct order book. The milestone signals continuing customer demand for the Dreamliner but is not a new Boeing order or immediate revenue catalyst. AerCap Holdings compared with Boeing
• Negative Sentiment: Voting ends on Boeing’s proposed four-year contract with the Society of Professional Engineering Employees in Aerospace, representing roughly 17,000 engineers and technical workers. A rejection could authorize a strike after the current contracts expire on October 6, raising concerns about production, certification and delivery schedules. Results were expected Friday afternoon. Boeing white-collar union contract vote results expected today
• Negative Sentiment: The labor uncertainty is outweighing recent operating progress, including higher commercial deliveries and efforts to increase 737 production. Investors appear concerned that a work stoppage could interrupt Boeing’s recovery. Boeing slides as labor vote uncertainty outweighs operational progress
• Negative Sentiment: Boeing is advancing repairs to Air Force One, but window replacement and interior work could threaten the program’s schedule, adding another execution risk to the company’s defense business. Boeing advances Air Force One repairs

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BA. Barclays downgraded shares of Boeing from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, August 11th. Cantor Fitzgerald cut shares of Boeing to a “neutral” rating in a research report on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Boeing in a research note on Tuesday, July 21st. William Blair reiterated an “outperform” rating on shares of Boeing in a research note on Tuesday, July 28th. Finally, The Goldman Sachs Group downgraded Boeing from a “buy” rating to a “hold” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $272.58.

Boeing Stock Performance

NYSE BA opened at $214.20 on Friday. The stock has a fifty day simple moving average of $222.11 and a 200 day simple moving average of $222.26. The Boeing Company has a twelve month low of $176.77 and a twelve month high of $254.35. The company has a market capitalization of $169.30 billion, a price-to-earnings ratio of 92.73 and a beta of 1.21. The company has a quick ratio of 0.33, a current ratio of 1.14 and a debt-to-equity ratio of 6.77.

Boeing (NYSE:BA) last released its quarterly earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.42). Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.The firm had revenue of $24.56 billion for the quarter, compared to the consensus estimate of $24.26 billion. During the same quarter in the previous year, the business posted ($1.24) EPS. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. Sell-side analysts expect that The Boeing Company will post -0.87 EPS for the current year.

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.