The Boeing Company $BA Position Reduced by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its stake in The Boeing Company (NYSE:BA) by 8.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 345,569 shares of the aircraft producer’s stock after selling 29,852 shares during the period. PNC Financial Services Group Inc.’s holdings in Boeing were worth $74,584,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of BA. Shell Asset Management Co. grew its stake in Boeing by 40.7% in the third quarter. Shell Asset Management Co. now owns 6,542 shares of the aircraft producer’s stock worth $1,412,000 after purchasing an additional 1,892 shares in the last quarter. Capital CS Group LLC bought a new position in Boeing during the 3rd quarter worth approximately $542,000. Aberdeen Group plc lifted its holdings in Boeing by 22.2% during the 3rd quarter. Aberdeen Group plc now owns 637,999 shares of the aircraft producer’s stock worth $138,497,000 after buying an additional 116,013 shares during the last quarter. Berkshire Asset Management LLC PA acquired a new position in shares of Boeing in the 3rd quarter worth approximately $204,000. Finally, TCTC Holdings LLC increased its holdings in shares of Boeing by 20.6% in the 3rd quarter. TCTC Holdings LLC now owns 10,834 shares of the aircraft producer’s stock valued at $2,338,000 after acquiring an additional 1,850 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Insider Buying and Selling at Boeing

In other Boeing news, SVP Dana S. Deasy purchased 554 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was bought at an average price of $178.88 per share, with a total value of $99,099.52. Following the completion of the purchase, the senior vice president owned 28,442 shares in the company, valued at $5,087,704.96. This trade represents a 1.99% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Uma M. Amuluru sold 2,731 shares of Boeing stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $236.00, for a total transaction of $644,516.00. Following the sale, the executive vice president owned 11,925 shares in the company, valued at approximately $2,814,300. This represents a 18.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.09% of the stock is owned by company insiders.

Boeing Trading Up 1.5%

Boeing stock opened at $242.96 on Tuesday. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $254.35. 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 firm has a market capitalization of $190.80 billion, a price-to-earnings ratio of 120.87 and a beta of 1.15. The firm has a 50-day moving average price of $229.65 and a two-hundred day moving average price of $219.45.

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on BA shares. JPMorgan Chase & Co. raised their price objective on Boeing from $245.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. UBS Group raised their price target on shares of Boeing from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Boeing in a report on Tuesday, December 9th. Deutsche Bank Aktiengesellschaft cut shares of Boeing from a “buy” rating to a “hold” rating and set a $240.00 target price on the stock. in a report on Thursday, October 30th. Finally, Susquehanna reaffirmed a “positive” rating and set a $280.00 target price on shares of Boeing in a report on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $246.14.

Boeing 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.