Icon Wealth Advisors LLC Buys 3,389 Shares of The Boeing Company $BA

Icon Wealth Advisors LLC grew its stake in shares of The Boeing Company (NYSE:BA) by 36.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,630 shares of the aircraft producer’s stock after buying an additional 3,389 shares during the period. Icon Wealth Advisors LLC’s holdings in Boeing were worth $2,732,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its holdings in shares of Boeing by 41.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 223,824 shares of the aircraft producer’s stock valued at $48,316,000 after purchasing an additional 65,216 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Boeing by 3.3% during the 3rd quarter. Fisher Asset Management LLC now owns 5,505,040 shares of the aircraft producer’s stock valued at $1,188,153,000 after purchasing an additional 177,597 shares in the last quarter. Princeton Capital Management LLC lifted its holdings in shares of Boeing by 78.3% during the 4th quarter. Princeton Capital Management LLC now owns 12,249 shares of the aircraft producer’s stock valued at $2,660,000 after purchasing an additional 5,381 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Boeing during the 4th quarter valued at about $55,787,000. Finally, Granite Investment Partners LLC lifted its holdings in shares of Boeing by 1,984.0% during the 3rd quarter. Granite Investment Partners LLC now owns 31,448 shares of the aircraft producer’s stock valued at $6,787,000 after purchasing an additional 29,939 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Key Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing’s commercial delivery surge is helping drive free cash flow and supporting a recovery in the company’s balance sheet. Boeing’s Unseen Rebound: Why the Headlines Are Wrong
• Positive Sentiment: Boeing’s Global Services business posted higher quarterly revenue, a record $33 billion backlog, and new contract wins, suggesting a growing recurring-growth engine. Can Boeing’s Global Services Business Become a Bigger Growth Driver?
• Positive Sentiment: Boeing announced a $2.35 billion investment in its Wichita campus along with other operational updates, which investors may view as a commitment to capacity and long-term execution. Boeing (BA) Stock Trades Up, Here Is Why
• Neutral Sentiment: DP Aircraft I secured up to $92 million in long-term financing for Boeing 787s ahead of LOT leases, which is supportive for 787-related demand but is a smaller indirect catalyst for Boeing stock. DP Aircraft I locks in US$92m long-term financing for Boeing 787s ahead of LOT leases
• Negative Sentiment: Boeing was recently pressured by a broader pullback, with the stock previously dipping more than the market as investors remained sensitive to execution and valuation concerns. Why Boeing (BA) Dipped More Than Broader Market Today

Insider Transactions at Boeing

In other news, Director Bradley D. Tilden bought 1,370 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average price of $218.50 per share, with a total value of $299,345.00. Following the transaction, the director owned 1,370 shares in the company, valued at $299,345. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BA. Wolfe Research reiterated an “outperform” rating and set a $275.00 price objective on shares of Boeing in a report on Thursday, April 23rd. Citigroup lifted their price objective on Boeing from $256.00 to $260.00 and gave the company a “buy” rating in a report on Monday, May 18th. Wells Fargo & Company began coverage on Boeing in a report on Wednesday, April 1st. They set an “overweight” rating and a $250.00 price objective on the stock. Weiss Ratings cut Boeing from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, April 24th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Boeing in a report on Wednesday, March 4th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $262.32.

Boeing Stock Down 1.1%

Shares of Boeing stock opened at $219.23 on Friday. The business’s 50 day simple moving average is $222.78 and its 200 day simple moving average is $221.38. The Boeing Company has a 52-week low of $176.77 and a 52-week high of $254.35. The firm has a market cap of $172.82 billion, a PE ratio of 106.42 and a beta of 1.19. The company has a debt-to-equity ratio of 7.42, a quick ratio of 0.35 and a current ratio of 1.18.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.48. The firm had revenue of $22.22 billion during the quarter, compared to analyst estimates of $22.15 billion. During the same period in the prior year, the business posted ($0.49) EPS. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. On average, analysts predict that The Boeing Company will post -0.15 earnings per share 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.