Pacer Advisors Inc. Has $14.02 Million Stock Position in The Boeing Company $BA

Pacer Advisors Inc. lessened its position in shares of The Boeing Company (NYSE:BA) by 17.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 64,557 shares of the aircraft producer’s stock after selling 13,695 shares during the quarter. Pacer Advisors Inc.’s holdings in Boeing were worth $14,017,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its holdings in Boeing by 41.1% in the third quarter. Russell Investments Group Ltd. now owns 223,824 shares of the aircraft producer’s stock valued at $48,316,000 after buying an additional 65,216 shares during the period. Fisher Asset Management LLC boosted its position in Boeing by 3.3% during the third quarter. Fisher Asset Management LLC now owns 5,505,040 shares of the aircraft producer’s stock valued at $1,188,153,000 after acquiring an additional 177,597 shares during the last quarter. Princeton Capital Management LLC grew its holdings in Boeing by 78.3% during the 4th quarter. Princeton Capital Management LLC now owns 12,249 shares of the aircraft producer’s stock worth $2,660,000 after acquiring an additional 5,381 shares during the period. Rakuten Investment Management Inc. grew its holdings in Boeing by 502.3% during the 4th quarter. Rakuten Investment Management Inc. now owns 103,099 shares of the aircraft producer’s stock worth $22,398,000 after acquiring an additional 85,982 shares during the period. Finally, Vaughan Nelson Investment Management L.P. bought a new position in shares of Boeing in the 4th quarter worth about $55,787,000. Institutional investors own 64.82% of the company’s stock.

Analyst Ratings Changes

BA has been the topic of several research analyst reports. Wells Fargo & Company assumed coverage on Boeing in a research report on Wednesday, April 1st. They set an “overweight” rating and a $250.00 target price on the stock. Wolfe Research reiterated an “outperform” rating and issued a $275.00 target price on shares of Boeing in a report on Thursday, April 23rd. Jefferies Financial Group reissued a “buy” rating on shares of Boeing in a research note on Wednesday, March 4th. Citigroup increased their price target on Boeing from $256.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Finally, Tigress Financial raised their price objective on shares of Boeing from $290.00 to $295.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $262.32.

Boeing Stock Performance

Shares of Boeing stock opened at $223.51 on Friday. The Boeing Company has a one year low of $176.77 and a one year high of $254.35. The firm has a market capitalization of $176.19 billion, a price-to-earnings ratio of 108.50 and a beta of 1.19. The business has a 50-day simple moving average of $224.23 and a 200 day simple moving average of $222.81. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.18 and a quick ratio of 0.35.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.48. The firm had revenue of $22.22 billion for the quarter, compared to analyst estimates of $22.15 billion. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period last year, the company posted ($0.49) earnings per share. On average, research analysts anticipate that The Boeing Company will post -0.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Boeing

In other news, Director Bradley D. Tilden bought 1,370 shares of the stock in a transaction dated Wednesday, May 20th. The shares were bought at an average cost of $218.50 per share, with a total value of $299,345.00. Following the completion of the transaction, the director directly owned 1,370 shares of the company’s stock, valued at $299,345. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.10% of the stock is owned by insiders.

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.