Hoertkorn Richard Charles Sells 17,050 Shares of The Boeing Company $BA
by Mitch Edgeman · The Markets DailyHoertkorn Richard Charles trimmed its stake in shares of The Boeing Company (NYSE:BA – Free Report) by 48.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,321 shares of the aircraft producer’s stock after selling 17,050 shares during the quarter. Boeing makes up about 3.0% of Hoertkorn Richard Charles’ portfolio, making the stock its 12th largest holding. Hoertkorn Richard Charles’ holdings in Boeing were worth $3,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently added to or reduced their stakes in BA. Capstone Capital Management Ltd boosted its position in Boeing by 10.0% in the first quarter. Capstone Capital Management Ltd now owns 17,336 shares of the aircraft producer’s stock valued at $3,450,000 after buying an additional 1,571 shares in the last quarter. CFS Investment Advisory Services LLC increased its holdings in shares of Boeing by 3.2% during the first quarter. CFS Investment Advisory Services LLC now owns 2,457 shares of the aircraft producer’s stock worth $489,000 after buying an additional 77 shares in the last quarter. First Interstate Bank lifted its stake in shares of Boeing by 549.3% in the 1st quarter. First Interstate Bank now owns 6,337 shares of the aircraft producer’s stock valued at $1,261,000 after acquiring an additional 5,361 shares during the last quarter. Seelaus Asset Management LLC lifted its stake in shares of Boeing by 46.0% in the 1st quarter. Seelaus Asset Management LLC now owns 5,029 shares of the aircraft producer’s stock valued at $1,001,000 after acquiring an additional 1,585 shares during the last quarter. Finally, IAG Wealth Partners LLC boosted its holdings in shares of Boeing by 12,332.1% during the 1st quarter. IAG Wealth Partners LLC now owns 3,481 shares of the aircraft producer’s stock valued at $693,000 after acquiring an additional 3,453 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.
Analyst Ratings Changes
A number of brokerages recently weighed in on BA. Wolfe Research restated an “outperform” rating and set a $275.00 price objective on shares of Boeing in a research report on Thursday, April 23rd. Tigress Financial increased their target price on Boeing from $290.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Citigroup lifted their price target on Boeing from $256.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Morgan Stanley boosted their price target on Boeing from $245.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, April 23rd. Finally, Wells Fargo & Company initiated coverage on Boeing in a research note on Wednesday, April 1st. They issued an “overweight” rating and a $250.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $261.61.
Read Our Latest Stock Report on BA
Trending Headlines about Boeing
Here are the key news stories impacting Boeing this week:
- Positive Sentiment: Boeing’s production recovery is still intact, with 737 output stabilized and plans to ramp higher, while certification progress on the 737-7/737-10 and 777-9 supports the longer-term turnaround story. Boeing (BA) Could Be 13% Undervalued As 737 MAX Output Ramps Up
- Positive Sentiment: Denmark said it will buy two Boeing P-8A Poseidon maritime patrol aircraft, reinforcing demand for Boeing’s defense business. Denmark to buy two maritime patrol aircraft from Boeing, defence ministry says
- Positive Sentiment: Philippine Airlines is reportedly considering a widebody order that could include about 10 Boeing 787s, which would support backlog and long-term deliveries. Philippine Airlines Eyes 20 Widebody Jets Split Between Boeing and Airbus
- Neutral Sentiment: Investor attention remains elevated around Boeing, but one Zacks item was mainly a sentiment/visibility note rather than a fundamental catalyst. Investors Heavily Search The Boeing Company (BA): Here is What You Need to Know
- Negative Sentiment: Two recent 737 MAX incidents on Southwest flights have put Boeing back in the spotlight and may renew concerns about product reliability and future inspections or delays. Boeing Co. (NYSE: BA)
- Negative Sentiment: Boeing also faces execution risk from wiring rework, 787 delays, and Spirit AeroSystems integration costs, which could pressure cash flow if problems persist. The Boeing Company Stock
Boeing Stock Performance
Shares of Boeing stock opened at $224.67 on Thursday. The stock has a market cap of $177.11 billion, a price-to-earnings ratio of 109.06 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 company’s fifty day moving average is $223.46 and its 200 day moving average is $224.74. The company has a quick ratio of 0.35, a current ratio of 1.18 and a debt-to-equity ratio of 7.42.
Boeing (NYSE:BA – Get Free Report) last announced its earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.48. The company had revenue of $22.22 billion for the quarter, compared to the consensus estimate of $22.15 billion. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.49) earnings per share. Sell-side analysts forecast that The Boeing Company will post -0.15 EPS for the current year.
Insider Buying and Selling at Boeing
In related news, Director Bradley D. Tilden purchased 1,370 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was bought at an average price of $218.50 per share, with a total value of $299,345.00. Following the completion of the purchase, the director owned 1,370 shares in the company, valued at approximately $299,345. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.10% of the company’s stock.
Boeing Company 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.
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