Investment Management Corp of Ontario Boosts Holdings in The Boeing Company $BA

Investment Management Corp of Ontario boosted its stake in The Boeing Company (NYSE:BA) by 99.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 70,397 shares of the aircraft producer’s stock after purchasing an additional 35,050 shares during the period. Investment Management Corp of Ontario’s holdings in Boeing were worth $15,285,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Boeing by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 70,989,438 shares of the aircraft producer’s stock worth $15,413,227,000 after purchasing an additional 3,460,021 shares during the last quarter. Alyeska Investment Group L.P. lifted its stake in Boeing by 245.7% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,252,450 shares of the aircraft producer’s stock valued at $489,052,000 after purchasing an additional 1,600,909 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Boeing by 43.1% during the fourth quarter. Janus Henderson Group PLC now owns 3,907,876 shares of the aircraft producer’s stock valued at $840,204,000 after purchasing an additional 1,176,074 shares during the period. Viking Global Investors LP grew its holdings in Boeing by 31.3% during the fourth quarter. Viking Global Investors LP now owns 3,953,087 shares of the aircraft producer’s stock valued at $858,294,000 after purchasing an additional 942,536 shares during the period. Finally, Deutsche Bank AG increased its position in Boeing by 47.5% in the fourth quarter. Deutsche Bank AG now owns 2,376,243 shares of the aircraft producer’s stock worth $515,930,000 after buying an additional 765,197 shares during the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Boeing

In related news, Director Bradley D. Tilden bought 1,370 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $218.50 per share, for a total transaction of $299,345.00. Following the purchase, the director directly owned 1,370 shares in the company, valued at $299,345. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on BA shares. Wells Fargo & Company initiated coverage on Boeing in a research note on Wednesday, April 1st. They issued an “overweight” rating and a $250.00 target price on the stock. Citigroup lifted their price objective on Boeing from $256.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Wolfe Research restated an “outperform” rating and issued a $275.00 price objective on shares of Boeing in a research note on Thursday, April 23rd. Jefferies Financial Group reaffirmed a “buy” rating on shares of Boeing in a report on Wednesday, March 4th. Finally, Morgan Stanley increased their target price on shares of Boeing from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $262.32.

Boeing Trading Down 0.8%

NYSE:BA opened at $225.59 on Thursday. The Boeing Company has a 1 year low of $176.77 and a 1 year high of $254.35. The stock’s fifty day moving average price is $223.85 and its two-hundred day moving average price is $222.57. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.18 and a quick ratio of 0.35. The company has a market cap of $177.83 billion, a P/E ratio of 109.51 and a beta of 1.19.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.48. The company had revenue of $22.22 billion during the quarter, compared to analysts’ expectations of $22.15 billion. During the same quarter last year, the firm posted ($0.49) earnings per share. Boeing’s revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, analysts expect that The Boeing Company will post -0.15 EPS for the current year.

More Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing is benefiting from a broader risk-on move after the U.S.-Iran peace deal reopened the Strait of Hormuz, easing geopolitical worries and lifting aerospace shares. Investors are also reacting to reports that BA may be undervalued, with some analysts still seeing room for the stock to rise. Boeing (BA) Stock Could Be 16.4% Undervalued After Peace Deal Lifts Sentiment
• Positive Sentiment: New coverage highlighted Boeing’s defense business as a potential growth driver, pointing to 21% defense revenue growth, $9 billion in orders, and an $86 billion backlog. That reinforces the view that Boeing’s recovery may be increasingly supported by military and government contracts. Can Defense Contracts Help Fuel Boeing’s Next Phase of Growth?
• Neutral Sentiment: Boeing also got a fresh nod from analysts, with reports calling the stock a “Moderate Buy.” That supports sentiment, but it is not a near-term catalyst by itself. The Boeing Company (NYSE:BA) Given Average Recommendation of “Moderate Buy” by Analysts
• Negative Sentiment: Investor attention is still on the deadly B-52 crash at Edwards Air Force Base, where Boeing employees were among the victims. Early reports suggest the aircraft plunged rapidly before impact, and the incident could lead to scrutiny of Boeing’s defense programs even though the investigation is ongoing. B-52 on test flight plunged at nearly a mile a minute before crashing, early data shows – PBS

About Boeing

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.