Primecap Management Co. CA Buys Shares of 1,039,910 The Boeing Company $BA

Primecap Management Co. CA acquired a new stake in shares of The Boeing Company (NYSE:BA) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 1,039,910 shares of the aircraft producer’s stock, valued at approximately $225,109,000.

Several other large investors have also recently bought and sold shares of BA. Measured Wealth Private Client Group LLC bought a new stake in shares of Boeing in the 3rd quarter valued at $25,000. Strive Financial Group LLC acquired a new stake in shares of Boeing in the 4th quarter valued at about $25,000. Ares Financial Consulting LLC bought a new position in shares of Boeing during the fourth quarter worth about $26,000. CrossGen Wealth LLC acquired a new stake in Boeing in the 4th quarter valued at approximately $26,000. Finally, Strategic Wealth Advisors LLC acquired a new position in Boeing during the 4th quarter worth approximately $27,000. Institutional investors own 64.82% of the company’s stock.

Boeing Trading Up 0.3%

BA opened at $211.09 on Wednesday. The Boeing Company has a twelve month low of $176.77 and a twelve month high of $254.35. The company has a 50-day simple moving average of $221.41 and a 200 day simple moving average of $221.85. The company has a quick ratio of 0.33, a current ratio of 1.14 and a debt-to-equity ratio of 6.77. The stock has a market capitalization of $166.84 billion, a price-to-earnings ratio of 91.38 and a beta of 1.21.

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

Boeing News Summary

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Major F-15 defense award: The U.S. Air Force awarded Boeing an indefinite-delivery/indefinite-quantity contract with a ceiling of approximately $131.2 billion for the F-15 Eagle Crest program. The agreement covers aircraft production, upgrades, maintenance and sustainment through August 2037, potentially strengthening Boeing’s defense revenue visibility and helping its struggling defense division. The full contract value is a ceiling rather than guaranteed revenue, so the actual financial benefit will depend on future orders. Reuters F-15 contract article
• Positive Sentiment: Turnaround and portfolio focus: Boeing sold three businesses in one week, including a transaction involving Archer Aviation. The divestitures could simplify the company, improve capital allocation and allow management to focus on commercial aircraft and core defense operations. The Archer arrangement adds strategic value, although analysts indicate it is unlikely to materially affect near-term earnings. Boeing business sales and Archer article
• Neutral Sentiment: Additional defense and commercial activity: Boeing continues to receive support from demand for its P-8 Poseidon program and delivered another 777 freighter to National Airlines. These developments reinforce aircraft demand and backlog potential but are relatively small compared with the F-15 award and are unlikely to change near-term valuation on their own. P-8 Poseidon demand article
• Negative Sentiment: Labor uncertainty: The Society of Professional Engineering Employees in Aerospace rejected Boeing’s proposed agreement by a wide margin. A difficult contract renegotiation could increase labor costs, disrupt engineering work or delay Boeing’s operational recovery. SPEEA vote article

Analysts Set New Price Targets

BA has been the topic of several analyst reports. William Blair reiterated an “outperform” rating on shares of Boeing in a report on Tuesday, July 28th. Robert W. Baird set a $300.00 target price on shares of Boeing in a research note on Wednesday, July 29th. JPMorgan Chase & Co. boosted their target price on shares of Boeing from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Cantor Fitzgerald lowered shares of Boeing to a “neutral” rating in a research report on Tuesday, August 11th. Finally, Barclays cut shares of Boeing from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $272.58.

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.