Texas Capital Bank Wealth Management Services Inc Takes Position in The Boeing Company $BA

Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of The Boeing Company (NYSE:BA) in the second quarter, Holdings Channel reports. The firm purchased 3,311 shares of the aircraft producer’s stock, valued at approximately $717,000.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Boeing by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 70,989,438 shares of the aircraft producer’s stock valued at $15,413,227,000 after purchasing an additional 3,460,021 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Boeing during the 2nd quarter worth $747,763,000. Deutsche Bank AG bought a new stake in shares of Boeing during the 2nd quarter worth $539,456,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Boeing in the 2nd quarter worth about $441,997,000. Finally, Alyeska Investment Group L.P. boosted its holdings in shares of Boeing by 245.7% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,252,450 shares of the aircraft producer’s stock worth $489,052,000 after buying an additional 1,600,909 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Bradley D. Tilden bought 1,370 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $218.50 per share, for a total transaction of $299,345.00. Following the purchase, the director directly owned 1,370 shares in the company, valued at $299,345. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on BA shares. Barclays downgraded shares of Boeing from an “equal weight” rating to an “underweight” rating in a report on Tuesday, August 11th. Weiss Ratings reissued a “sell (d+)” rating on shares of Boeing in a research report on Tuesday, July 21st. Wolfe Research downgraded shares of Boeing from an “outperform” rating to a “hold” rating in a research report on Tuesday, August 11th. BNP Paribas Exane upgraded shares of Boeing from an “underperform” rating to an “outperform” rating and raised their price target for the stock from $230.00 to $300.00 in a research note on Monday, August 3rd. Finally, Btg Pactual set a $260.00 price target on shares of Boeing in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $272.58.

Boeing Trading Down 2.2%

NYSE:BA opened at $226.48 on Tuesday. The Boeing Company has a 1 year low of $176.77 and a 1 year high of $254.35. The stock’s fifty day moving average price is $221.91 and its two-hundred day moving average price is $222.66. The company has a debt-to-equity ratio of 6.77, a current ratio of 1.14 and a quick ratio of 0.33. The company has a market cap of $179.00 billion, a P/E ratio of 98.04 and a beta of 1.21.

Boeing (NYSE:BA) last announced its quarterly 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 net margin of 2.41% and a negative return on equity of 346.82%. The company had revenue of $24.56 billion during the quarter, compared to analysts’ expectations of $24.26 billion. During the same quarter last year, the firm posted ($1.24) earnings per share. Boeing’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, analysts expect that The Boeing Company will post -0.87 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.