Cercano Management LLC Makes New $11.22 Million Investment in The Boeing Company $BA

Cercano Management LLC purchased a new position in shares of The Boeing Company (NYSE:BA) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 51,990 shares of the aircraft producer’s stock, valued at approximately $11,221,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Wallace Advisory Group LLC grew its stake in shares of Boeing by 1.2% in the 2nd quarter. Wallace Advisory Group LLC now owns 3,570 shares of the aircraft producer’s stock valued at $748,000 after buying an additional 44 shares during the period. Blue Barn Wealth LLC lifted its holdings in Boeing by 1.8% in the second quarter. Blue Barn Wealth LLC now owns 2,594 shares of the aircraft producer’s stock valued at $544,000 after acquiring an additional 46 shares during the last quarter. N.E.W. Advisory Services LLC grew its position in Boeing by 3.1% in the third quarter. N.E.W. Advisory Services LLC now owns 1,540 shares of the aircraft producer’s stock worth $332,000 after acquiring an additional 46 shares during the period. Motco increased its stake in Boeing by 5.4% during the third quarter. Motco now owns 921 shares of the aircraft producer’s stock worth $199,000 after acquiring an additional 47 shares during the last quarter. Finally, Encompass Wealth Advisors LLC raised its position in Boeing by 0.9% in the third quarter. Encompass Wealth Advisors LLC now owns 5,045 shares of the aircraft producer’s stock valued at $1,089,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Price Performance

Shares of NYSE BA opened at $243.86 on Wednesday. The company has a debt-to-equity ratio of 8.37, a current ratio of 1.19 and a quick ratio of 0.40. The company has a market cap of $191.51 billion, a price-to-earnings ratio of 121.32 and a beta of 1.15. The stock’s 50-day moving average is $230.52 and its two-hundred day moving average is $219.60. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $254.35.

Boeing (NYSE:BA) last announced its quarterly earnings data on Tuesday, January 27th. The aircraft producer reported $9.92 EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $10.32. The company had revenue of $23.95 billion for the quarter, compared to analyst estimates of $22.41 billion. During the same period in the prior year, the firm posted ($5.90) earnings per share. The business’s quarterly revenue was up 57.1% compared to the same quarter last year. Analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Uma M. Amuluru sold 2,731 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $236.00, for a total value of $644,516.00. Following the sale, the executive vice president directly owned 11,925 shares in the company, valued at approximately $2,814,300. This trade represents a 18.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Howard E. Mckenzie sold 10,497 shares of the business’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $233.99, for a total transaction of $2,456,193.03. Following the transaction, the executive vice president owned 14,692 shares of the company’s stock, valued at approximately $3,437,781.08. The trade was a 41.67% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.09% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Susquehanna reiterated a “positive” rating and set a $280.00 price target on shares of Boeing in a report on Thursday, January 15th. Tigress Financial restated a “buy” rating and issued a $275.00 price objective on shares of Boeing in a report on Monday, December 29th. Weiss Ratings upgraded shares of Boeing from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday, February 4th. UBS Group boosted their target price on Boeing from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Finally, JPMorgan Chase & Co. boosted their price objective on Boeing from $245.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and a consensus price target of $246.14.

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.