Boeing (NYSE:BA) Stock: Insider Steven Mollenkopf Buys 2,950 Shares

The Boeing Company (NYSE:BA) Director Steven Mollenkopf bought 2,950 shares of the business’s stock in a transaction dated Friday, October 30th. The stock was bought at an average cost of $173.03 per share, for a total transaction of $510,438.50. Following the completion of the purchase, the director owned 6,717 shares of the company’s stock, valued at approximately $1,162,242.51. The trade was a 78.31% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Boeing Price Performance

BA opened at $176.88 on Thursday. The stock has a 50-day moving average price of $193.91 and a 200-day moving average price of $216.17. The company has a debt-to-equity ratio of 6.31, a current ratio of 1.13 and a quick ratio of 0.34. The firm has a market cap of $140.17 billion, a PE ratio of 19.25 and a beta of 1.34. The Boeing Company has a 1 year low of $165.01 and a 1 year high of $254.35.

Boeing (NYSE:BA) last announced its quarterly earnings results on Tuesday, October 27th. The aircraft producer reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.09). Boeing had a negative return on equity of 42.40% and a net margin of 7.98%. The firm had revenue of $24.19 billion during the quarter, compared to the consensus estimate of $23.95 billion. During the same quarter in the previous year, the firm earned ($7.47) EPS. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. Sell-side analysts predict that The Boeing Company will post -1.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Langenberg & Company set a $250.00 target price on shares of Boeing in a research note on Tuesday, October 27th. Wall Street Zen cut shares of Boeing from a “hold” rating to a “sell” rating in a report on Saturday, October 24th. Jefferies Financial Group downgraded shares of Boeing from a “buy” rating to a “hold” rating in a research report on Wednesday, October 28th. DZ Bank restated a “buy” rating on shares of Boeing in a report on Thursday, August 6th. Finally, Bank of America restated a “buy” rating and issued a $270.00 price objective on shares of Boeing in a report on Friday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $247.88.

Key Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Avolon finalized an order for 140 Boeing 737-10 jets, a record 737 MAX purchase by a lessor. The deal lifts Avolon’s 737 MAX backlog above 240 aircraft and underscores demand for Boeing’s single-aisle jets. Avolon Finalizes Order for 140 Boeing 737-10 Jets
• Positive Sentiment: Two Boeing directors bought about $1.51 million of shares after the recent earnings report: Mortimer Buckley purchased 5,820 shares and Steven Mollenkopf bought 2,950. The insider buying may signal confidence in the company’s recovery, although it does not guarantee improved results. Boeing Chairman and Former Vanguard CEO Buy $1.51 Million in Stock
• Neutral Sentiment: Coverage described a mixed day for Boeing, with fuel-tank inspection concerns counterbalanced by new orders. The available report details do not specify the scope or likely financial impact of the inspections. Fuel Tank Inspections, New Orders Send Boeing Stock Rising
• Negative Sentiment: Boeing’s recovery still faces execution risks: its 737 MAX production ramp has been pushed back, while Emirates has voiced concern about the delayed 777X. Further schedule setbacks could postpone deliveries and revenue. Boeing Stock Slips as Emirates Gets Concerned

Hedge Funds Weigh In On Boeing

A number of hedge funds have recently bought and sold shares of the business. Jupiter Topco LLC bought a new position in Boeing during the second quarter valued at approximately $911,878,000. Bank of New York Mellon Corp bought a new stake in Boeing in the 2nd quarter worth approximately $747,763,000. Legal & General Group Plc bought a new stake in Boeing in the 2nd quarter worth approximately $710,816,000. Deutsche Bank AG bought a new stake in Boeing in the 2nd quarter worth approximately $539,456,000. Finally, Swiss National Bank raised its stake in Boeing by 7.6% during the 1st quarter. Swiss National Bank now owns 2,298,077 shares of the aircraft producer’s stock valued at $457,386,000 after buying an additional 163,000 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Company Profile

The Boeing Company (NYSE: BA) is a global aerospace company that designs, manufactures and supports commercial airplanes, military aircraft, satellites, space systems and related products and services. Its offerings serve airlines, government agencies, defense organizations and other customers worldwide.

Boeing operates through three principal business areas: Commercial Airplanes, which develops and produces passenger and cargo aircraft; Defense, Space & Security, which provides military aircraft, weapons systems, satellites and space-related platforms; and Global Services, which offers parts, maintenance, training, engineering and other lifecycle support.

Founded in 1916 by William Boeing, the company has grown into one of the world’s major aerospace manufacturers.