Legal & General Group Plc Purchases Shares of 3,283,668 The Boeing Company $BA

Legal & General Group Plc acquired a new position in The Boeing Company (NYSE:BA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,283,668 shares of the aircraft producer’s stock, valued at approximately $710,816,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Newport Trust Company LLC boosted its holdings in Boeing by 1.0% during the fourth quarter. Newport Trust Company LLC now owns 29,485,294 shares of the aircraft producer’s stock worth $6,401,847,000 after buying an additional 286,848 shares in the last quarter. Geode Capital Management LLC increased its holdings in Boeing by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 17,025,435 shares of the aircraft producer’s stock valued at $3,679,592,000 after buying an additional 533,753 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Boeing by 2.5% in the fourth quarter. Fisher Asset Management LLC now owns 5,640,900 shares of the aircraft producer’s stock valued at $1,224,752,000 after buying an additional 135,860 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Boeing by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,370,415 shares of the aircraft producer’s stock worth $948,905,000 after acquiring an additional 138,469 shares during the period. Finally, Viking Global Investors LP raised its position in shares of Boeing by 31.3% in the fourth quarter. Viking Global Investors LP now owns 3,953,087 shares of the aircraft producer’s stock worth $858,294,000 after acquiring an additional 942,536 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Key Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing received a U.S. Department of War indefinite-delivery/indefinite-quantity contract with a ceiling value of $131.23 billion to support the F-15 Eagle Crest program. Although the ceiling is not guaranteed revenue, the award strengthens Boeing’s long-term defense backlog and could provide significant future cash flow. Boeing awarded contract for F-15 program
• Positive Sentiment: Strong maritime-defense demand is supporting Boeing’s P-8 Poseidon business, including a new $156.2 million contract. The award adds evidence that Boeing’s defense segment can supplement its commercial-aircraft recovery. P-8 Poseidon defense growth
• Positive Sentiment: National Airlines accepted its fourth Boeing 777-200 Freighter, highlighting ongoing cargo-aircraft demand and supporting Boeing’s production and delivery activity. National Airlines receives Boeing 777 freighter
• Neutral Sentiment: Analysts continue to focus on Boeing’s ability to increase 737 MAX production against its substantial backlog. Higher output could improve revenue and benefit suppliers, but execution, regulatory oversight and supply-chain constraints remain important risks. Boeing production and suppliers
• Negative Sentiment: Members of the Society of Professional Engineering Employees in Aerospace reportedly rejected Boeing’s proposed agreement by a wide margin. The labor setback raises the risk of extended negotiations, higher costs or disruption to engineering and production programs. SPEEA rejects Boeing proposal
• Negative Sentiment: United Airlines is reconsidering how to use premium seats ordered for delayed 737 MAX 10 aircraft, underscoring the model’s prolonged certification and delivery delays. Continued uncertainty could weigh on Boeing’s delivery targets and customer relationships. United Airlines and 737 MAX 10 delays

Boeing Stock Performance

NYSE:BA opened at $210.50 on Tuesday. The company has a debt-to-equity ratio of 6.77, a quick ratio of 0.33 and a current ratio of 1.14. The stock has a market capitalization of $166.37 billion, a PE ratio of 91.13 and a beta of 1.21. The Boeing Company has a fifty-two week low of $176.77 and a fifty-two week high of $254.35. The company has a fifty day moving average of $221.74 and a two-hundred day moving average of $222.02.

Boeing (NYSE:BA) last announced its earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.42). The company had revenue of $24.56 billion during the quarter, compared to analyst estimates of $24.26 billion. Boeing had a net margin of 2.41% and a negative return on equity of 346.82%. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the business earned ($1.24) EPS. As a group, research analysts forecast that The Boeing Company will post -0.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. UBS Group started coverage on Boeing in a research report on Tuesday, August 11th. They set a “buy” rating on the stock. BNP Paribas Exane raised Boeing from an “underperform” rating to an “outperform” rating and upped their price target for the stock from $230.00 to $300.00 in a report on Monday, August 3rd. Sanford C. Bernstein initiated coverage on Boeing in a research report on Tuesday, August 11th. They set an “outperform” rating on the stock. Btg Pactual set a $260.00 price target on Boeing in a research report on Tuesday, July 14th. Finally, Royal Bank Of Canada dropped their price objective on Boeing from $275.00 to $265.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $272.58.

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.