The Boeing Company $BA Shares Bought by Waycross Partners LLC

Waycross Partners LLC increased its stake in shares of The Boeing Company (NYSE:BA) by 8.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 206,403 shares of the aircraft producer’s stock after buying an additional 15,675 shares during the period. Boeing makes up 3.0% of Waycross Partners LLC’s holdings, making the stock its 12th biggest holding. Waycross Partners LLC’s holdings in Boeing were worth $38,401,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SteelPeak Wealth LLC raised its position in shares of Boeing by 660.0% during the 3rd quarter. SteelPeak Wealth LLC now owns 94,976 shares of the aircraft producer’s stock valued at $17,670,000 after acquiring an additional 82,479 shares during the last quarter. McAlister Sweet & Associates Inc. grew its position in shares of Boeing by 57.2% in the 3rd quarter. McAlister Sweet & Associates Inc. now owns 45,420 shares of the aircraft producer’s stock valued at $8,450,000 after purchasing an additional 16,531 shares during the period. Integrated Wealth Concepts LLC boosted its holdings in shares of Boeing by 16.0% in the second quarter. Integrated Wealth Concepts LLC now owns 42,417 shares of the aircraft producer’s stock valued at $9,182,000 after buying an additional 5,862 shares during the period. T3 Companies LLC increased its holdings in Boeing by 1,487.1% during the 3rd quarter. T3 Companies LLC now owns 17,458 shares of the aircraft producer’s stock worth $3,248,000 after purchasing an additional 16,358 shares in the last quarter. Finally, Mather Group LLC. raised its position in Boeing by 347.3% in the 3rd quarter. Mather Group LLC. now owns 23,183 shares of the aircraft producer’s stock valued at $4,313,000 after buying an additional 18,000 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Mortimer Buckley acquired 5,820 shares of Boeing stock in a transaction dated Friday, October 30th. The shares were bought at an average cost of $171.55 per share, with a total value of $998,421.00. Following the purchase, the director owned 10,250 shares in the company, valued at $1,758,387.50. This trade represents a 131.38% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Steven Mollenkopf purchased 2,950 shares of the business’s stock in a transaction on Friday, October 30th. The shares were purchased at an average cost of $173.03 per share, for a total transaction of $510,438.50. Following the transaction, the director directly owned 6,717 shares of the company’s stock, valued at approximately $1,162,242.51. The trade was a 78.31% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.10% of the company’s stock.

Boeing Trading Up 0.5%

Shares of Boeing stock traded up $0.94 on Friday, hitting $173.44. The stock had a trading volume of 6,235,738 shares, compared to its average volume of 10,034,751. The stock has a 50 day moving average of $192.39 and a 200 day moving average of $215.41. The firm has a market capitalization of $137.44 billion, a P/E ratio of 18.87 and a beta of 1.34. The Boeing Company has a twelve month low of $165.01 and a twelve month high of $254.35. The company has a debt-to-equity ratio of 6.31, a quick ratio of 0.34 and a current ratio of 1.13.

Boeing (NYSE:BA) last issued its quarterly earnings data on Tuesday, October 27th. The aircraft producer reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.09). Boeing had a negative return on equity of 42.40% and a net margin of 7.98%. The business had revenue of $24.19 billion during the quarter, compared to the consensus estimate of $23.95 billion. During the same period in the prior year, the firm earned ($7.47) EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. Sell-side analysts expect that The Boeing Company will post -1.76 earnings per share for the current fiscal year.

Key Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Avolon ordered 140 Boeing 737-10 jets, a record order that reinforces demand for Boeing’s largest 737 variant and adds to its backlog. Boeing Looks 8% Overvalued Following Avolon’s Order
• Positive Sentiment: Two directors bought Boeing shares after the stock’s decline, while a report also cited positive free cash flow. Those signals may bolster confidence, though they do not resolve operational challenges. Boeing Has the Orders, the Cash Flow, and Insider Buyers
• Neutral Sentiment: A valuation analysis said Boeing shares looked about 8% overvalued despite the Avolon order, reflecting concerns about the company’s recent performance and delivery outlook. Boeing Valuation Analysis
• Negative Sentiment: Boeing reportedly delivered 32 MAX jets in October, its lowest monthly total in nearly a year. Fewer deliveries could weigh on revenue and complicate the production recovery. October MAX Deliveries
• Negative Sentiment: The FAA is scrutinizing Dreamliner wing issues, adding a potential quality-control and regulatory overhang that could raise the risk of delays or added costs. FAA Scrutiny of Dreamliner Wings

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Morgan Stanley cut their price target on shares of Boeing from $225.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 28th. Wall Street Zen downgraded shares of Boeing from a “hold” rating to a “sell” rating in a report on Saturday, October 24th. Needham & Company LLC assumed coverage on Boeing in a research note on Wednesday, October 28th. They set a “hold” rating on the stock. DZ Bank reiterated a “buy” rating on shares of Boeing in a research note on Thursday, August 6th. Finally, Wells Fargo & Company cut their target price on Boeing from $250.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $247.88.

Boeing Profile

The Boeing Company is an aerospace manufacturer that designs, builds and supports commercial airplanes, defense products and space systems. Its commercial aircraft include the 737, 767, 777 and 787 families, which serve passenger and cargo operators around the world.

Boeing’s defense, space and security business supplies military aircraft, helicopters, weapons, satellites and related systems, as well as services for government customers. Its Boeing Global Services business provides support such as maintenance, parts, training and logistics for commercial and government customers.

Founded in 1916 by William Boeing, the company has grown into a global aerospace business serving customers across the Americas, Europe, Asia and other regions.