Castleark Management LLC Makes New Investment in The Boeing Company $BA

Castleark Management LLC acquired a new position in shares of The Boeing Company (NYSE:BA) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 59,520 shares of the aircraft producer’s stock, valued at approximately $12,884,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Measured Wealth Private Client Group LLC purchased a new position in Boeing in the third quarter worth approximately $25,000. Strive Financial Group LLC purchased a new stake in shares of Boeing in the 4th quarter valued at approximately $25,000. CrossGen Wealth LLC purchased a new stake in shares of Boeing during the 4th quarter worth $26,000. Ares Financial Consulting LLC acquired a new position in shares of Boeing during the fourth quarter worth $26,000. Finally, 1 North Wealth Services LLC purchased a new position in Boeing in the fourth quarter valued at $27,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Major F-15 defense award: The U.S. Air Force awarded Boeing an indefinite-delivery/indefinite-quantity contract with a ceiling of approximately $131.2 billion for the F-15 Eagle Crest program. The agreement covers aircraft production, upgrades, maintenance and sustainment through August 2037, potentially strengthening Boeing’s defense revenue visibility and helping its struggling defense division. The full contract value is a ceiling rather than guaranteed revenue, so the actual financial benefit will depend on future orders. Reuters F-15 contract article
• Positive Sentiment: Turnaround and portfolio focus: Boeing sold three businesses in one week, including a transaction involving Archer Aviation. The divestitures could simplify the company, improve capital allocation and allow management to focus on commercial aircraft and core defense operations. The Archer arrangement adds strategic value, although analysts indicate it is unlikely to materially affect near-term earnings. Boeing business sales and Archer article
• Neutral Sentiment: Additional defense and commercial activity: Boeing continues to receive support from demand for its P-8 Poseidon program and delivered another 777 freighter to National Airlines. These developments reinforce aircraft demand and backlog potential but are relatively small compared with the F-15 award and are unlikely to change near-term valuation on their own. P-8 Poseidon demand article
• Negative Sentiment: Labor uncertainty: The Society of Professional Engineering Employees in Aerospace rejected Boeing’s proposed agreement by a wide margin. A difficult contract renegotiation could increase labor costs, disrupt engineering work or delay Boeing’s operational recovery. SPEEA vote article

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Btg Pactual set a $260.00 price target on Boeing in a report on Tuesday, July 14th. Sanford C. Bernstein started coverage on Boeing in a research report on Tuesday, August 11th. They set an “outperform” rating on the stock. Cantor Fitzgerald cut Boeing to a “neutral” rating in a research note on Tuesday, August 11th. Tigress Financial upped their price target on Boeing from $295.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, William Blair reiterated an “outperform” rating on shares of Boeing in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $272.58.

Boeing Stock Up 0.3%

Boeing stock opened at $211.09 on Wednesday. The company has a market capitalization of $166.84 billion, a P/E ratio of 91.38 and a beta of 1.21. 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 Boeing Company has a fifty-two week low of $176.77 and a fifty-two week high of $254.35. The stock has a 50-day simple moving average of $221.41 and a 200-day simple moving average of $221.85.

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

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.