McGinn Penninger Investment Management Inc. Raises Stake in The Boeing Company $BA

McGinn Penninger Investment Management Inc. lifted its holdings in The Boeing Company (NYSE:BA) by 12.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 30,982 shares of the aircraft producer’s stock after buying an additional 3,379 shares during the period. Boeing makes up about 3.9% of McGinn Penninger Investment Management Inc.’s investment portfolio, making the stock its 9th largest position. McGinn Penninger Investment Management Inc.’s holdings in Boeing were worth $6,727,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Boeing by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 70,989,438 shares of the aircraft producer’s stock worth $15,413,227,000 after purchasing an additional 3,460,021 shares during the period. Newport Trust Company LLC lifted its stake in shares of Boeing by 1.0% in the 4th quarter. Newport Trust Company LLC now owns 29,485,294 shares of the aircraft producer’s stock worth $6,401,847,000 after purchasing an additional 286,848 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Boeing by 2.5% in the 4th quarter. Fisher Asset Management LLC now owns 5,640,900 shares of the aircraft producer’s stock worth $1,224,752,000 after purchasing an additional 135,860 shares during the period. Legal & General Group Plc lifted its stake in shares of Boeing by 7.1% in the 3rd quarter. Legal & General Group Plc now owns 3,369,615 shares of the aircraft producer’s stock worth $727,264,000 after purchasing an additional 223,995 shares during the period. Finally, Viking Global Investors LP lifted its stake in shares of Boeing by 6.2% in the 3rd quarter. Viking Global Investors LP now owns 3,010,551 shares of the aircraft producer’s stock worth $649,767,000 after purchasing an additional 175,486 shares during the period. Institutional investors own 64.82% of the company’s stock.

Key Headlines Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: National Airlines took delivery of its second Boeing 777 Freighter, underscoring continued demand for Boeing cargo aircraft and supporting Boeing’s order/backlog narrative. National Airlines Continues Strategic Fleet Expansion with Delivery of Second Boeing 777F
• Positive Sentiment: Boeing Saudi Arabia and GACA launched an advanced air mobility feasibility study with SkyGrid and KAUST, which could help Boeing build future opportunities in emerging aviation markets. Boeing Saudi Arabia and GACA launch AAM Airspace and Operational Feasibility Analysis with support from SkyGrid, and KAUST
• Positive Sentiment: A Boeing director disclosed insider buying of about $299,345, a signal investors often view as a vote of confidence in the company’s outlook. Insider Buying: Boeing (NYSE:BA) Director Buys $299,345.00 in Stock
• Neutral Sentiment: Analyst commentary comparing Boeing with Lockheed Martin and long-term think pieces on Boeing’s decade-ahead prospects were broadly valuation-focused and are unlikely to move the stock on their own. BA vs. LMT: Which Aerospace-Defense Giant Offers Better Value Today?
• Negative Sentiment: SpaceX won additional NASA crew mission work while Boeing lost out, reinforcing concerns that Boeing is falling behind in key space-related programs. SpaceX Wins Where Boeing Loses: NASA Hands Musk-Led Company More Crew Missions
• Negative Sentiment: Reports that China only bought 200 Boeing planes were seen as disappointing, suggesting softer-than-hoped demand from a major market. The Disappointing Boeing Deal: Why China Only Bought 200 Planes

Insider Activity at Boeing

In other Boeing news, Director Bradley D. Tilden bought 1,370 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $218.50 per share, with a total value of $299,345.00. Following the completion of the acquisition, the director owned 1,370 shares in the company, valued at $299,345. This trade represents a ? increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mortimer J. Buckley bought 2,230 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was acquired at an average cost of $224.20 per share, with a total value of $499,966.00. Following the completion of the acquisition, the director owned 4,430 shares of the company’s stock, valued at $993,206. This represents a 101.36% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.10% of the company’s stock.

Boeing Trading Up 0.1%

Boeing stock opened at $219.25 on Wednesday. The stock has a market cap of $172.83 billion, a P/E ratio of 106.43 and a beta of 1.21. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.18 and a quick ratio of 0.35. The Boeing Company has a 1 year low of $176.77 and a 1 year high of $254.35. The firm’s 50 day moving average price is $217.81 and its 200-day moving average price is $219.01.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share (EPS) for the quarter, beating 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 company’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.49) EPS. On average, equities analysts predict that The Boeing Company will post -0.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BA shares. Wells Fargo & Company started coverage on shares of Boeing in a research note on Wednesday, April 1st. They issued an “overweight” rating and a $250.00 price objective on the stock. Citigroup raised their target price on shares of Boeing from $256.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Morgan Stanley raised their target price on shares of Boeing from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 23rd. Weiss Ratings cut shares of Boeing from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, April 24th. Finally, Vertical Research restated a “buy” rating and set a $281.00 target price on shares of Boeing in a research note on Tuesday, January 27th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $259.80.

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.