Bessemer Group Inc. Boosts Stock Holdings in The Boeing Company $BA

Bessemer Group Inc. lifted its position in The Boeing Company (NYSE:BA) by 59.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,590,290 shares of the aircraft producer’s stock after acquiring an additional 591,936 shares during the quarter. Bessemer Group Inc.’s holdings in Boeing were worth $316,516,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BA. Measured Wealth Private Client Group LLC bought a new position in shares of Boeing during the third quarter valued at about $25,000. Strive Financial Group LLC bought a new stake in Boeing in the 4th quarter worth about $25,000. Ares Financial Consulting LLC bought a new stake in Boeing in the 4th quarter worth about $26,000. CrossGen Wealth LLC purchased a new stake in Boeing in the 4th quarter valued at about $26,000. Finally, Strategic Wealth Advisors LLC purchased a new stake in Boeing in the 4th quarter valued at about $27,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

BA has been the topic of several recent analyst reports. Btg Pactual set a $260.00 target price on shares of Boeing in a research report on Tuesday. Tigress Financial increased their price target on Boeing from $290.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Morgan Stanley lifted their price target on Boeing from $245.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, April 23rd. Wolfe Research reissued an “outperform” rating and issued a $275.00 price objective on shares of Boeing in a research report on Thursday, April 23rd. Finally, Weiss Ratings cut Boeing from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $261.53.

Trending Headlines about Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing is nearing regulatory approval for a fix to the 737 MAX anti-ice system, which could clear the way for long-delayed 737 MAX 7 and MAX 10 deliveries and improve the outlook for near-term production. Reuters: Boeing nears approval of 737 MAX anti-ice fix, paving way for deliveries
• Positive Sentiment: The company reported strong June deliveries of 64 jets, bringing first-half deliveries to 314 aircraft, its best first-half performance since 2018 and a positive sign for cash flow and execution heading into earnings. Article: Boeing Delivered 64 Jets in June. Here’s What That Means for Its July 28 Earnings.
• Positive Sentiment: Reuters also reported Boeing is near a key certification milestone for the 737 MAX 7 and MAX 10, while progress on the 737 MAX anti-icing certification and 777X program adds to investor optimism about production ramps and future deliveries. Seeking Alpha: Boeing nears key certification milestone for 737 Max 7 and Max 10
• Neutral Sentiment: Boeing is showcasing its commercial, defense, and services portfolio at major industry events, which helps visibility but is not likely to move the stock on its own. PR Newswire: Boeing highlights portfolio at aviation’s largest celebration
• Negative Sentiment: A Reuters report that the U.S. will lead the probe into a Ryanair Boeing 737 incident over Greece keeps safety and oversight issues in the headlines, which can weigh on sentiment even though it does not directly change Boeing’s fundamentals. Reuters: US to take lead in probe into Ryanair Boeing 737 engine failure over Greece

Boeing Stock Performance

Shares of BA stock opened at $214.24 on Friday. The firm has a market cap of $168.88 billion, a price-to-earnings ratio of 104.00 and a beta of 1.21. The company has a debt-to-equity ratio of 7.42, a quick ratio of 0.35 and a current ratio of 1.18. The Boeing Company has a 52 week low of $176.77 and a 52 week high of $254.35. The firm’s 50-day simple moving average is $222.30 and its two-hundred day simple moving average is $224.82.

Boeing (NYSE:BA) last released its earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.48. The company had revenue of $22.22 billion for the quarter, compared to the consensus estimate of $22.15 billion. During the same period in the prior year, the company earned ($0.49) earnings per share. The firm’s revenue was up 14.0% on a year-over-year basis. As a group, equities analysts forecast that The Boeing Company will post -0.22 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Bradley D. Tilden acquired 1,370 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average price of $218.50 per share, for a total transaction of $299,345.00. Following the completion of the purchase, the director owned 1,370 shares in the company, valued at approximately $299,345. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.10% of the company’s stock.

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.