Worth Asset Management LLC Lowers Holdings in The Boeing Company $BA

Worth Asset Management LLC reduced its stake in shares of The Boeing Company (NYSE:BA) by 68.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,015 shares of the aircraft producer’s stock after selling 4,353 shares during the quarter. Worth Asset Management LLC’s holdings in Boeing were worth $435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Boeing by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 66,773,360 shares of the aircraft producer’s stock valued at $13,991,022,000 after acquiring an additional 1,118,316 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Boeing by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 16,316,838 shares of the aircraft producer’s stock valued at $3,402,073,000 after purchasing an additional 432,026 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Boeing by 3.8% during the second quarter. Fisher Asset Management LLC now owns 5,327,443 shares of the aircraft producer’s stock valued at $1,116,259,000 after purchasing an additional 196,666 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Boeing by 1.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 4,242,397 shares of the aircraft producer’s stock worth $888,910,000 after purchasing an additional 44,338 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Boeing by 6.3% in the second quarter. Legal & General Group Plc now owns 3,145,620 shares of the aircraft producer’s stock worth $659,102,000 after buying an additional 187,545 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BA shares. Sanford C. Bernstein restated an “outperform” rating and set a $267.00 price target on shares of Boeing in a report on Friday, November 14th. The Goldman Sachs Group reissued a “buy” rating on shares of Boeing in a report on Tuesday, December 9th. Deutsche Bank Aktiengesellschaft cut shares of Boeing from a “buy” rating to a “hold” rating and set a $240.00 price target on the stock. in a research report on Thursday, October 30th. Royal Bank Of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of Boeing in a research note on Monday, September 29th. Finally, Loop Capital set a $223.00 target price on shares of Boeing in a report on Monday, November 3rd. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and a consensus price target of $233.17.

Insider Activity at Boeing

In other Boeing news, SVP Dana S. Deasy purchased 554 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was purchased at an average cost of $178.88 per share, with a total value of $99,099.52. Following the purchase, the senior vice president owned 28,442 shares of the company’s stock, valued at approximately $5,087,704.96. The trade was a 1.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Uma M. Amuluru sold 1,366 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $197.66, for a total value of $270,003.56. Following the transaction, the executive vice president owned 14,656 shares of the company’s stock, valued at approximately $2,896,904.96. The trade was a 8.53% decrease in their position. The SEC filing for this sale provides additional information. 0.09% of the stock is owned by insiders.

Boeing Stock Down 0.8%

BA stock opened at $216.34 on Friday. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The stock has a market capitalization of $164.44 billion, a price-to-earnings ratio of -15.81 and a beta of 1.18. The firm’s fifty day simple moving average is $202.10 and its two-hundred day simple moving average is $214.26.

Boeing (NYSE:BA) last released its earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($6.96). The firm had revenue of $23.27 billion for the quarter, compared to analysts’ expectations of $21.61 billion. During the same period in the previous year, the business earned ($10.44) EPS. The company’s revenue was up 30.4% on a year-over-year basis. As a group, equities research analysts expect that The Boeing Company will post -2.58 EPS for the current year.

About Boeing

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.