Kercheville Advisors LLC Trims Stake in The Boeing Company $BA

Kercheville Advisors LLC lowered its position in shares of The Boeing Company (NYSE:BA) by 36.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,144 shares of the aircraft producer’s stock after selling 4,105 shares during the period. Kercheville Advisors LLC’s holdings in Boeing were worth $1,542,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Boeing by 1.7% during the second quarter. Vanguard Group Inc. now owns 66,773,360 shares of the aircraft producer’s stock valued at $13,991,022,000 after purchasing an additional 1,118,316 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Boeing by 2.7% during the second quarter. Geode Capital Management LLC now owns 16,316,838 shares of the aircraft producer’s stock worth $3,402,073,000 after buying an additional 432,026 shares during the period. Fisher Asset Management LLC boosted its position in Boeing by 3.8% during the 2nd quarter. Fisher Asset Management LLC now owns 5,327,443 shares of the aircraft producer’s stock valued at $1,116,259,000 after acquiring an additional 196,666 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Boeing by 1.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,242,397 shares of the aircraft producer’s stock valued at $888,910,000 after acquiring an additional 44,338 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of Boeing by 6.3% in the 2nd quarter. Legal & General Group Plc now owns 3,145,620 shares of the aircraft producer’s stock valued at $659,102,000 after acquiring an additional 187,545 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BA has been the subject of a number of analyst reports. Zacks Research upgraded Boeing from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 2nd. Vertical Research raised shares of Boeing from a “hold” rating to a “buy” rating and increased their price target for the company from $242.00 to $270.00 in a research report on Monday, September 8th. Jefferies Financial Group set a $255.00 price target on shares of Boeing in a report on Tuesday, September 30th. Citigroup began coverage on shares of Boeing in a research note on Thursday, December 11th. They set a “buy” rating and a $265.00 price objective for the company. Finally, Susquehanna lowered their target price on shares of Boeing from $270.00 to $255.00 and set a “positive” rating for the company in a research note on Wednesday, November 12th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $234.92.

Insiders Place Their Bets

In related news, EVP Uma M. Amuluru sold 1,366 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $197.66, for a total value of $270,003.56. Following the sale, the executive vice president owned 14,656 shares in the company, valued at $2,896,904.96. This represents a 8.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Dana S. Deasy acquired 554 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were acquired at an average price of $178.88 per share, with a total value of $99,099.52. Following the completion of the purchase, the senior vice president owned 28,442 shares in the company, valued at approximately $5,087,704.96. This trade represents a 1.99% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.09% of the company’s stock.

Boeing Stock Up 4.7%

BA stock opened at $227.27 on Monday. The stock has a market capitalization of $172.74 billion, a PE ratio of -16.61, a price-to-earnings-growth ratio of 6.56 and a beta of 1.16. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69. The firm has a 50 day moving average of $202.26 and a 200 day moving average of $214.92.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The business had revenue of $23.27 billion for the quarter, compared to analyst estimates of $21.61 billion. During the same period in the prior year, the company posted ($10.44) earnings per share. The company’s revenue was up 30.4% on a year-over-year basis. On average, equities research analysts expect that The Boeing Company will post -2.58 earnings per share for the current year.

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.