The Boeing Company $BA Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lifted its position in The Boeing Company (NYSE:BA) by 14.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 46,415 shares of the aircraft producer’s stock after acquiring an additional 5,727 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Boeing were worth $8,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Jupiter Topco LLC acquired a new stake in Boeing during the second quarter valued at $911,878,000. Bank of New York Mellon Corp purchased a new position in Boeing in the second quarter valued at $747,763,000. Legal & General Group Plc purchased a new position in Boeing in the second quarter valued at $710,816,000. Deutsche Bank AG purchased a new position in Boeing in the second quarter valued at $539,456,000. Finally, Swiss National Bank raised its position in shares of Boeing by 7.6% in the first quarter. Swiss National Bank now owns 2,298,077 shares of the aircraft producer’s stock worth $457,386,000 after acquiring an additional 163,000 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Boeing

In other news, EVP David Raymond sold 2,994 shares of Boeing stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $174.91, for a total value of $523,680.54. Following the sale, the executive vice president owned 38,456 shares in the company, valued at $6,726,338.96. This trade represents a 7.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mortimer Buckley bought 5,820 shares of the business’s stock in a transaction dated Friday, October 30th. The shares were bought at an average cost of $171.55 per share, with a total value of $998,421.00. Following the purchase, the director directly owned 10,250 shares of the company’s stock, valued at approximately $1,758,387.50. This represents a 131.38% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.10% of the company’s stock.

Key Boeing News

Here’s some of the latest news about BA:

• Positive Sentiment: Boeing is targeting $10 billion in free cash flow by 2029. One analysis says achieving production and certification milestones could support substantial share-price gains, though this depends on successful execution. Article: $500 Invested in Boeing Today Could Be Worth This Much in 3 Years
• Positive Sentiment: Boeing’s record backlog and major defense wins provide demand support, even as production and delivery challenges remain.
• Negative Sentiment: Safety inspectors are calling for more contact with the factory floor, adding scrutiny to Boeing’s efforts to improve its safety culture. Article: Safety Inspectors Call for More Contact With Factory Floor

Boeing Price Performance

Boeing stock opened at $171.53 on Friday. The company’s fifty day moving average price is $189.59 and its 200 day moving average price is $213.86. The Boeing Company has a 1 year low of $165.01 and a 1 year high of $254.35. The stock has a market capitalization of $135.93 billion, a P/E ratio of 18.66 and a beta of 1.34. The company has a debt-to-equity ratio of 6.31, a quick ratio of 0.34 and a current ratio of 1.13.

Boeing (NYSE:BA) last issued its quarterly earnings results on Tuesday, October 27th. The aircraft producer reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.09). The company had revenue of $24.19 billion during the quarter, compared to analysts’ expectations of $23.95 billion. Boeing had a negative return on equity of 42.40% and a net margin of 7.98%. Boeing’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($7.47) EPS. As a group, equities research analysts anticipate that The Boeing Company will post -1.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BA. The Goldman Sachs Group reiterated a “buy” rating and issued a $238.00 price objective on shares of Boeing in a research report on Wednesday, October 28th. Susquehanna restated a “positive” rating on shares of Boeing in a research report on Wednesday. BNP Paribas Exane upgraded Boeing to a “neutral” rating in a research note on Wednesday, October 28th. Glj Research began coverage on Boeing in a research note on Wednesday, October 28th. They issued a “buy” rating for the company. Finally, Wall Street Zen cut Boeing from a “hold” rating to a “sell” rating in a report on Saturday, October 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Boeing currently has an average rating of “Moderate Buy” and an average target price of $247.88.

Boeing Profile

The Boeing Company is an aerospace manufacturer that designs, builds and supports commercial airplanes, defense products and space systems. Its commercial aircraft include the 737, 767, 777 and 787 families, which serve passenger and cargo operators around the world. Boeing’s defense, space and security business supplies military aircraft, helicopters, weapons, satellites and related systems, as well as services for government customers. Its Boeing Global Services business provides support such as maintenance, parts, training and logistics for commercial and government customers.