Summit Global Investments Buys Shares of 3,048 The Boeing Company $BA

Summit Global Investments purchased a new position in shares of The Boeing Company (NYSE:BA) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 3,048 shares of the aircraft producer’s stock, valued at approximately $660,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BA. Revolve Wealth Partners LLC acquired a new stake in Boeing during the 4th quarter worth about $201,000. Sivia Capital Partners LLC lifted its stake in shares of Boeing by 16.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,529 shares of the aircraft producer’s stock valued at $320,000 after purchasing an additional 217 shares during the period. AXA S.A. lifted its stake in shares of Boeing by 1,225.7% in the 2nd quarter. AXA S.A. now owns 34,655 shares of the aircraft producer’s stock valued at $7,261,000 after purchasing an additional 32,041 shares during the period. Ieq Capital LLC boosted its position in shares of Boeing by 243.8% during the 2nd quarter. Ieq Capital LLC now owns 33,485 shares of the aircraft producer’s stock valued at $7,016,000 after purchasing an additional 23,746 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Boeing by 4.2% during the 2nd quarter. Alliancebernstein L.P. now owns 1,334,451 shares of the aircraft producer’s stock valued at $279,608,000 after purchasing an additional 53,736 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of Boeing stock opened at $231.50 on Friday. The business has a 50-day simple moving average of $221.70 and a 200 day simple moving average of $222.97. The Boeing Company has a one year low of $176.77 and a one year high of $254.35. The company has a debt-to-equity ratio of 6.77, a current ratio of 1.14 and a quick ratio of 0.33. The firm has a market capitalization of $182.97 billion, a price-to-earnings ratio of 100.21 and a beta of 1.21.

Boeing (NYSE:BA) last announced its quarterly earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.42). Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.The firm had revenue of $24.56 billion during the quarter, compared to the consensus estimate of $24.26 billion. During the same quarter in the previous year, the company posted ($1.24) EPS. The firm’s revenue was up 8.0% on a year-over-year basis. On average, research analysts anticipate that The Boeing Company will post -0.87 earnings per share for the current fiscal year.

Key Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: The Pentagon signed framework agreements with Boeing and RTX to increase production of components for SM-3 Block IIA and Block IB interceptor missiles. The seven-year arrangements could provide greater visibility for Boeing’s defense business and support incremental revenue, helping drive the stock higher. Pentagon signs deals with Boeing and RTX
• Positive Sentiment: Boeing is selling Wisk Aero, Insitu and SkyGrid to Archer Aviation in an all-stock transaction that gives Boeing an approximately 20% stake in Archer. Analysts view the deal as a way to exit a struggling, non-core air-taxi operation while retaining exposure to autonomy and electric-aircraft technologies, potentially sharpening Boeing’s turnaround focus. Boeing’s Wisk sale and portfolio strategy
• Positive Sentiment: Avolon agreed to lease up to seven Boeing 737-8200 aircraft to India’s Akasa Air. The transaction supports continued demand for Boeing’s narrow-body aircraft in one of the aviation industry’s fastest-growing markets. Avolon and Akasa Air 737 transaction
• Neutral Sentiment: Odysight.ai received a Boeing purchase order and will demonstrate AI-powered predictive-maintenance technology at two Boeing sites. The initiative could improve future maintenance capabilities and create supplier opportunities, but its immediate financial impact on BA is expected to be limited. Odysight.ai Boeing purchase order
• Neutral Sentiment: JLL is considering Boeing’s former Chicago headquarters for a potential global headquarters move. The move could benefit Boeing through property monetization or reduced real-estate obligations, though no transaction has been finalized. JLL considers Boeing’s former headquarters

Insider Buying and Selling at Boeing

In other news, Director Bradley D. Tilden bought 1,370 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $299,345. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BA has been the subject of a number of research analyst reports. UBS Group assumed coverage on Boeing in a report on Tuesday. They issued a “buy” rating for the company. The Goldman Sachs Group cut Boeing from a “buy” rating to a “hold” rating in a report on Tuesday. Sanford C. Bernstein initiated coverage on shares of Boeing in a research report on Tuesday. They set an “outperform” rating for the company. Wolfe Research lowered shares of Boeing from an “outperform” rating to a “hold” rating in a research note on Tuesday. Finally, Btg Pactual set a $260.00 target price on shares of Boeing in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Boeing has an average rating of “Moderate Buy” and an average price target of $272.58.

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.