The Boeing Company $BA Holdings Boosted by Waycross Partners LLC

Waycross Partners LLC raised its stake in The Boeing Company (NYSE:BA) by 8.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 206,403 shares of the aircraft producer’s stock after purchasing an additional 15,675 shares during the period. Boeing makes up approximately 3.0% of Waycross Partners LLC’s holdings, making the stock its 12th biggest position. Waycross Partners LLC’s holdings in Boeing were worth $38,401,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Alps Advisors Inc. increased its stake in Boeing by 4.2% during the third quarter. Alps Advisors Inc. now owns 9,144 shares of the aircraft producer’s stock valued at $1,701,000 after acquiring an additional 371 shares during the period. CenterBook Partners LP acquired a new position in Boeing in the 3rd quarter valued at approximately $605,000. Canvas Wealth Advisors LLC bought a new stake in shares of Boeing in the 3rd quarter worth approximately $240,000. Asset One Wealth Management LLC lifted its position in shares of Boeing by 8.5% in the 3rd quarter. Asset One Wealth Management LLC now owns 2,394 shares of the aircraft producer’s stock worth $445,000 after acquiring an additional 187 shares during the period. Finally, Principle Wealth Partners LLC lifted its position in shares of Boeing by 0.7% in the 3rd quarter. Principle Wealth Partners LLC now owns 19,739 shares of the aircraft producer’s stock worth $3,673,000 after acquiring an additional 145 shares during the period. 64.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BA has been the topic of a number of research reports. Glj Research began coverage on Boeing in a research report on Wednesday, October 28th. They set a “buy” rating on the stock. Zacks Research cut Boeing from a “hold” rating to a “strong sell” rating in a research report on Friday, October 16th. TD Cowen decreased their price target on shares of Boeing from $240.00 to $210.00 and set a “buy” rating on the stock in a research note on Wednesday, October 28th. DZ Bank reissued a “buy” rating on shares of Boeing in a report on Thursday, August 6th. Finally, Morgan Stanley dropped their price objective on shares of Boeing from $225.00 to $195.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and an average price target of $247.88.

Insiders Place Their Bets

In other news, Director Steven M. Mollenkopf bought 2,950 shares of the stock in a transaction dated Friday, October 30th. The shares were acquired at an average price of $173.03 per share, with a total value of $510,438.50. Following the acquisition, the director owned 6,717 shares in the company, valued at $1,162,242.51. This trade represents a 78.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mortimer J. Buckley bought 5,820 shares of the company’s stock in a transaction that occurred on Friday, October 30th. The shares were purchased at an average price of $171.55 per share, with a total value of $998,421.00. Following the transaction, the director directly owned 10,250 shares in the company, valued at $1,758,387.50. This represents a 131.38% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.10% of the stock is currently owned by company insiders.

Boeing Price Performance

Shares of BA stock traded up $0.94 during trading hours on Friday, hitting $173.44. The company had a trading volume of 6,235,738 shares, compared to its average volume of 10,034,751. The Boeing Company has a 12 month low of $165.01 and a 12 month high of $254.35. The company has a debt-to-equity ratio of 6.31, a quick ratio of 0.34 and a current ratio of 1.13. The firm’s fifty day moving average is $192.39 and its 200 day moving average is $215.41. The firm has a market capitalization of $137.44 billion, a price-to-earnings ratio of 18.87 and a beta of 1.34.

Boeing (NYSE:BA) last posted its earnings results on Tuesday, October 27th. The aircraft producer reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.09). The company had revenue of $24.19 billion for the quarter, compared to the consensus estimate of $23.95 billion. Boeing had a negative return on equity of 42.40% and a net margin of 7.98%. Boeing’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business earned ($7.47) EPS. On average, sell-side analysts predict that The Boeing Company will post -1.76 EPS for the current fiscal year.

Boeing News Summary

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Avolon ordered 140 Boeing 737-10 jets, a record order that reinforces demand for Boeing’s largest 737 variant and adds to its backlog. Boeing Looks 8% Overvalued Following Avolon’s Order
• Positive Sentiment: Two directors bought Boeing shares after the stock’s decline, while a report also cited positive free cash flow. Those signals may bolster confidence, though they do not resolve operational challenges. Boeing Has the Orders, the Cash Flow, and Insider Buyers
• Neutral Sentiment: A valuation analysis said Boeing shares looked about 8% overvalued despite the Avolon order, reflecting concerns about the company’s recent performance and delivery outlook. Boeing Valuation Analysis
• Negative Sentiment: Boeing reportedly delivered 32 MAX jets in October, its lowest monthly total in nearly a year. Fewer deliveries could weigh on revenue and complicate the production recovery. October MAX Deliveries
• Negative Sentiment: The FAA is scrutinizing Dreamliner wing issues, adding a potential quality-control and regulatory overhang that could raise the risk of delays or added costs. FAA Scrutiny of Dreamliner Wings

Boeing Company Profile

The Boeing Company is an aerospace manufacturer that designs, builds and supports commercial airplanes, defense products and space systems. Its commercial aircraft include the 737, 767, 777 and 787 families, which serve passenger and cargo operators around the world.

Boeing’s defense, space and security business supplies military aircraft, helicopters, weapons, satellites and related systems, as well as services for government customers. Its Boeing Global Services business provides support such as maintenance, parts, training and logistics for commercial and government customers.

Founded in 1916 by William Boeing, the company has grown into a global aerospace business serving customers across the Americas, Europe, Asia and other regions.