Pinnacle West Asset Management Inc. Purchases New Stake in The Boeing Company $BA

Pinnacle West Asset Management Inc. acquired a new position in The Boeing Company (NYSE:BA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,640 shares of the aircraft producer’s stock, valued at approximately $1,004,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC acquired a new stake in shares of Boeing during the 3rd quarter worth approximately $25,000. Strive Financial Group LLC bought a new position in Boeing in the fourth quarter valued at approximately $25,000. CrossGen Wealth LLC bought a new position in Boeing in the fourth quarter valued at approximately $26,000. Ares Financial Consulting LLC acquired a new stake in Boeing during the 4th quarter worth $26,000. Finally, 1 North Wealth Services LLC acquired a new stake in Boeing during the 4th quarter worth $27,000. 64.82% of the stock is owned by institutional investors.

Boeing Trading Down 0.4%

BA opened at $214.20 on Friday. The firm’s fifty day moving average is $222.11 and its two-hundred day moving average is $222.26. 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 cap of $169.30 billion, a PE ratio of 92.73 and a beta of 1.21. The Boeing Company has a twelve month low of $176.77 and a twelve month high of $254.35.

Boeing (NYSE:BA) last announced its quarterly 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 firm had revenue of $24.56 billion for the quarter, compared to the consensus estimate of $24.26 billion. During the same period in the prior year, the business earned ($1.24) earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. Equities research analysts anticipate that The Boeing Company will post -0.87 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Robert W. Baird set a $300.00 price target on Boeing in a research note on Wednesday, July 29th. BNP Paribas Exane raised Boeing from an “underperform” rating to an “outperform” rating and lifted their price objective for the stock from $230.00 to $300.00 in a research note on Monday, August 3rd. Btg Pactual set a $260.00 price objective on Boeing in a report on Tuesday, July 14th. Citigroup lowered Boeing from a “buy” rating to a “sell” rating in a research note on Tuesday, August 11th. Finally, Sanford C. Bernstein started coverage on Boeing in a report on Tuesday, August 11th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $272.58.

Boeing News Summary

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: The U.S. State Department approved a potential $4.5 billion sale of KC-46A tanker aircraft to Qatar. The approval supports Boeing’s defense backlog, although the transaction still requires finalization. US approves potential $4.5B sale of Boeing KC-46A tankers to Qatar
• Positive Sentiment: Boeing’s agreement to sell or transfer businesses including Wisk Aero, Insitu and SkyGrid to Archer Aviation, while taking a strategic stake in Archer, could generate cash and provide exposure to autonomous and electric aviation markets. However, the deal’s financial impact and execution remain uncertain. Archer Aviation bets big on becoming more than an air taxi company
• Neutral Sentiment: AerCap delivered its tenth Boeing 787 to Grupo Aeromexico, marking its 100th 787 delivery from its direct order book. The milestone signals continuing customer demand for the Dreamliner but is not a new Boeing order or immediate revenue catalyst. AerCap Holdings compared with Boeing
• Negative Sentiment: Voting ends on Boeing’s proposed four-year contract with the Society of Professional Engineering Employees in Aerospace, representing roughly 17,000 engineers and technical workers. A rejection could authorize a strike after the current contracts expire on October 6, raising concerns about production, certification and delivery schedules. Results were expected Friday afternoon. Boeing white-collar union contract vote results expected today
• Negative Sentiment: The labor uncertainty is outweighing recent operating progress, including higher commercial deliveries and efforts to increase 737 production. Investors appear concerned that a work stoppage could interrupt Boeing’s recovery. Boeing slides as labor vote uncertainty outweighs operational progress
• Negative Sentiment: Boeing is advancing repairs to Air Force One, but window replacement and interior work could threaten the program’s schedule, adding another execution risk to the company’s defense business. Boeing advances Air Force One repairs

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.