Northcape Wealth Management LLC Takes Position in The Boeing Company $BA

Northcape Wealth Management LLC purchased a new stake in shares of The Boeing Company (NYSE:BA) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 16,810 shares of the aircraft producer’s stock, valued at approximately $3,639,000.

A number of other institutional investors also recently modified their holdings of the business. Measured Wealth Private Client Group LLC purchased a new stake in shares of Boeing during the third quarter worth $25,000. Strive Financial Group LLC purchased a new position in shares of Boeing in the fourth quarter valued at $25,000. CrossGen Wealth LLC purchased a new position in shares of Boeing in the fourth quarter valued at $26,000. Ares Financial Consulting LLC bought a new stake in shares of Boeing during the 4th quarter valued at $26,000. Finally, 1 North Wealth Services LLC bought a new stake in shares of Boeing during the 4th quarter valued at $27,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing News Summary

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing is pursuing an internal turnaround under CEO Kelly Ortberg, emphasizing engineering discipline, production quality and long-term aircraft development rather than short-term Wall Street targets. The strategy could improve execution and restore customer and investor confidence, although results will take time. How Kelly Ortberg is rebuilding Boeing from the inside out
• Positive Sentiment: Wright-Patterson Air Force Base awarded Boeing a $75 million contract for Air Force One spare parts, providing incremental support for the company’s defense and government-services business. Boeing $75 million Air Force One parts contract
• Positive Sentiment: Boeing and Lockheed Martin’s United Launch Alliance reportedly completed a $1.5 billion private bond offering—three times the initial target—suggesting strong investor demand for ULA financing and continued interest in its space business. Boeing Q2 earnings context

Analyst Ratings Changes

Several research analysts have commented on the company. The Goldman Sachs Group downgraded Boeing from a “buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Morgan Stanley upped their price target on Boeing from $245.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, April 23rd. Btg Pactual set a $260.00 price target on shares of Boeing in a report on Tuesday, July 14th. Citigroup lowered shares of Boeing from a “buy” rating to a “sell” rating in a research report on Tuesday, August 11th. Finally, Tigress Financial boosted their price objective on shares of Boeing from $295.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $272.58.

Boeing Price Performance

NYSE:BA opened at $221.79 on Thursday. The Boeing Company has a 52-week low of $176.77 and a 52-week high of $254.35. The stock has a fifty day moving average of $222.33 and a 200 day moving average of $222.44. The company has a debt-to-equity ratio of 6.77, a quick ratio of 0.33 and a current ratio of 1.14. The firm has a market capitalization of $175.30 billion, a price-to-earnings ratio of 96.01 and a beta of 1.21.

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

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.