QRG Capital Management Inc. Grows Stock Position in The Boeing Company $BA

by · The Cerbat Gem

QRG Capital Management Inc. increased its stake in shares of The Boeing Company (NYSE:BA – Free Report) by 449.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 571,042 shares of the aircraft producer’s stock after purchasing an additional 467,137 shares during the quarter. Boeing accounts for approximately 0.9% of QRG Capital Management Inc.’s holdings, making the stock its 18th biggest position. QRG Capital Management Inc.’s holdings in Boeing were worth $123,613,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in Boeing by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 17,025,435 shares of the aircraft producer’s stock worth $3,679,592,000 after buying an additional 533,753 shares during the last quarter. Jupiter Topco LLC purchased a new stake in shares of Boeing in the second quarter valued at about $911,878,000. Janus Henderson Group PLC boosted its holdings in shares of Boeing by 43.1% in the fourth quarter. Janus Henderson Group PLC now owns 3,907,876 shares of the aircraft producer’s stock valued at $840,204,000 after acquiring an additional 1,176,074 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Boeing by 2.5% during the fourth quarter. Bank of New York Mellon Corp now owns 3,613,462 shares of the aircraft producer’s stock worth $784,555,000 after acquiring an additional 89,106 shares during the period. Finally, Legal & General Group Plc acquired a new position in shares of Boeing during the second quarter worth about $710,816,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on BA shares. Sanford C. Bernstein began coverage on shares of Boeing in a research report on Tuesday, August 11th. They issued an “outperform” rating for the company. William Blair reiterated an “outperform” rating on shares of Boeing in a research report on Tuesday, July 28th. Cantor Fitzgerald downgraded Boeing to a “neutral” rating in a research note on Tuesday, August 11th. Royal Bank Of Canada reduced their price target on Boeing from $275.00 to $265.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Finally, UBS Group started coverage on Boeing in a research note on Tuesday, August 11th. They issued a “buy” rating on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $270.95.

Read Our Latest Research Report on BA

Key Boeing News

Here are the key news stories impacting Boeing this week:

  • Positive Sentiment: Turkish Airlines placed an order for up to 150 737 MAX jets—100 firm 737-8 aircraft plus options for 50 more—in Boeing’s largest single-aisle order from the airline. The deal reinforces demand and adds to Boeing’s substantial commercial backlog. Boeing and Turkish Airlines Finalize Order for up to 150 737 MAX Jets
  • Positive Sentiment: Boeing’s engineers’ union recommended that members accept the company’s latest contract offer. The recommendation reduces near-term labor-disruption risk and helped lift investor confidence, although members still must vote on the agreement. Boeing’s engineers union backs latest contract offer
  • Positive Sentiment: Boeing won a $33.4 million U.S. Air Force contract for C-17 avionics support through 2032, providing a modest defense and aftermarket-services revenue contribution. Boeing Stock Climbs Modestly Following $33.4M Air Force Avionics Deal
  • Neutral Sentiment: Potential progress in Trump-Xi trade talks could benefit Boeing if reduced tariffs improve the outlook for aerospace trade with China. However, analysts reportedly expect limited progress on broader technology and strategic issues, making the effect uncertain. Trump-Xi Talks Won’t Deliver Breakthroughs on Chips, Rare Earths. Boeing Can Benefit.
  • Negative Sentiment: CEO Kelly Ortberg indicated that the 737 MAX production ramp is taking longer than expected. Investors are concerned that manufacturing delays will prevent Boeing from converting its large backlog into deliveries, cash flow and earnings. Boeing is also pressing suppliers to adopt more automation, highlighting ongoing production challenges. Boeing’s Demand Is Strong. Can Production Finally Catch Up?
  • Negative Sentiment: Valuation and execution concerns remain. Despite recent orders, Boeing’s shares have already suffered a substantial year-to-date decline, while analysts question whether production constraints, supplier costs and high debt will limit the company’s ability to generate expected cash flow.

Boeing Price Performance

Shares of NYSE BA traded up $1.86 during midday trading on Wednesday, hitting $199.58. The company had a trading volume of 10,001,793 shares, compared to its average volume of 6,658,634. The firm has a market capitalization of $157.74 billion, a price-to-earnings ratio of 86.40 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. The business has a 50-day simple moving average of $215.44 and a two-hundred day simple moving average of $217.82. The company has a quick ratio of 0.33, a current ratio of 1.14 and a debt-to-equity ratio of 6.77.

Boeing (NYSE:BA – Get Free Report) last issued its earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.42). Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.The company had revenue of $24.56 billion for the quarter, compared to analyst estimates of $24.26 billion. During the same quarter in the previous year, the company posted ($1.24) earnings per share. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. Equities research analysts anticipate that The Boeing Company will post -0.91 earnings per share for the current year.

Boeing Company Profile

(Free Report)

The Boeing Company is a global aerospace company that designs, manufactures and services commercial airplanes, military aircraft, satellites, space systems and other aerospace products. Its principal business areas include commercial airplanes, defense and security, and aftermarket services that support aircraft operations throughout their life cycles.

Boeing’s commercial portfolio includes the 737, 767, 777 and 787 families of jetliners, while its defense and space operations provide products and services for the U.S.

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