SteelPeak Wealth LLC Acquires 7,796 Shares of The Boeing Company $BA

SteelPeak Wealth LLC increased its stake in The Boeing Company (NYSE:BA) by 38.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,205 shares of the aircraft producer’s stock after acquiring an additional 7,796 shares during the period. SteelPeak Wealth LLC’s holdings in Boeing were worth $5,614,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Purus Wealth Management LLC boosted its holdings in shares of Boeing by 3.6% in the 4th quarter. Purus Wealth Management LLC now owns 1,177 shares of the aircraft producer’s stock worth $256,000 after purchasing an additional 41 shares during the period. West Wealth Group LLC raised its holdings in Boeing by 0.6% during the 4th quarter. West Wealth Group LLC now owns 7,279 shares of the aircraft producer’s stock valued at $1,581,000 after buying an additional 42 shares during the period. First Heartland Consultants Inc. raised its holdings in Boeing by 1.1% during the 4th quarter. First Heartland Consultants Inc. now owns 4,062 shares of the aircraft producer’s stock valued at $882,000 after buying an additional 43 shares during the period. XML Financial LLC raised its holdings in Boeing by 0.5% during the 4th quarter. XML Financial LLC now owns 8,905 shares of the aircraft producer’s stock valued at $1,933,000 after buying an additional 43 shares during the period. Finally, Global Financial Private Client LLC lifted its position in Boeing by 1.1% in the fourth quarter. Global Financial Private Client LLC now owns 4,025 shares of the aircraft producer’s stock worth $874,000 after buying an additional 44 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

Insider Transactions at Boeing

In other news, Director Bradley D. Tilden acquired 1,370 shares of Boeing stock in a transaction on Wednesday, May 20th. The shares were bought at an average cost of $218.50 per share, for a total transaction of $299,345.00. Following the acquisition, the director directly owned 1,370 shares of the company’s stock, valued at $299,345. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.10% of the stock is currently owned by company insiders.

Boeing Trading Down 1.8%

Shares of BA opened at $214.24 on Friday. The firm has a market capitalization 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 current ratio of 1.18 and a quick ratio of 0.35. The Boeing Company has a 1-year low of $176.77 and a 1-year high of $254.35. The company has a 50-day moving average of $222.30 and a 200 day moving average of $224.82.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.48. The company had revenue of $22.22 billion for the quarter, compared to analysts’ expectations of $22.15 billion. During the same period last year, the business posted ($0.49) earnings per share. The business’s revenue was up 14.0% compared to the same quarter last year. On average, research analysts expect that The Boeing Company will post -0.22 EPS for the current year.

More Boeing News

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

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Weiss Ratings lowered shares of Boeing from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, April 24th. Wells Fargo & Company initiated coverage on shares of Boeing in a research note on Wednesday, April 1st. They issued an “overweight” rating and a $250.00 target price on the stock. Btg Pactual set a $260.00 target price on shares of Boeing in a report on Tuesday. Morgan Stanley lifted their price target on shares of Boeing from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 23rd. Finally, Citigroup upped their price target on shares of Boeing from $256.00 to $260.00 and gave the company a “buy” rating in a report on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and an average price target of $261.53.

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.