Connor Clark & Lunn Investment Management Ltd. Takes Position in The Boeing Company $BA

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of The Boeing Company (NYSE:BA) during the second quarter, HoldingsChannel reports. The institutional investor acquired 836,569 shares of the aircraft producer’s stock, valued at approximately $181,092,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised 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 last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Boeing during the 2nd quarter worth about $747,763,000. Deutsche Bank AG acquired a new stake in shares of Boeing during the 2nd quarter worth about $539,456,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Boeing during the second quarter worth about $441,997,000. Finally, Alyeska Investment Group L.P. grew its holdings in shares of Boeing by 245.7% during the fourth 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 in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Price Performance

BA opened at $214.20 on Monday. The Boeing Company has a 12 month low of $176.77 and a 12 month high of $254.35. The business has a 50-day moving average of $222.11 and a two-hundred day moving average of $222.18. 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 stock has a market capitalization of $169.30 billion, a price-to-earnings ratio of 92.73 and a beta of 1.21.

Boeing (NYSE:BA) last announced its quarterly earnings data 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 negative return on equity of 346.82% and a net margin of 2.41%.The company had revenue of $24.56 billion for the quarter, compared to analysts’ expectations of $24.26 billion. During the same quarter in the previous year, the company earned ($1.24) earnings per share. The company’s revenue was up 8.0% on a year-over-year basis. On average, research analysts expect that The Boeing Company will post -0.87 earnings per share for the current year.

Analyst Ratings Changes

BA has been the subject of a number of analyst reports. Barclays lowered shares of Boeing from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, August 11th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Boeing in a research note on Tuesday, July 21st. BNP Paribas Exane raised shares of Boeing from an “underperform” rating to an “outperform” rating and lifted their target price for the stock from $230.00 to $300.00 in a research note on Monday, August 3rd. Sanford C. Bernstein initiated coverage on Boeing in a report on Tuesday, August 11th. They issued an “outperform” rating for the company. Finally, Wolfe Research lowered Boeing from an “outperform” rating to a “hold” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $272.58.

Key Headlines Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: The U.S. State Department approved a potential $4.5 billion sale of KC-46A tanker aircraft to Qatar. The approval supports Boeing’s defense backlog, although the transaction still requires finalization. US approves potential $4.5B sale of Boeing KC-46A tankers to Qatar
• Positive Sentiment: Boeing’s agreement to sell or transfer businesses including Wisk Aero, Insitu and SkyGrid to Archer Aviation, while taking a strategic stake in Archer, could generate cash and provide exposure to autonomous and electric aviation markets. However, the deal’s financial impact and execution remain uncertain. Archer Aviation bets big on becoming more than an air taxi company
• Neutral Sentiment: AerCap delivered its tenth Boeing 787 to Grupo Aeromexico, marking its 100th 787 delivery from its direct order book. The milestone signals continuing customer demand for the Dreamliner but is not a new Boeing order or immediate revenue catalyst. AerCap Holdings compared with Boeing
• Negative Sentiment: Voting ends on Boeing’s proposed four-year contract with the Society of Professional Engineering Employees in Aerospace, representing roughly 17,000 engineers and technical workers. A rejection could authorize a strike after the current contracts expire on October 6, raising concerns about production, certification and delivery schedules. Results were expected Friday afternoon. Boeing white-collar union contract vote results expected today
• Negative Sentiment: The labor uncertainty is outweighing recent operating progress, including higher commercial deliveries and efforts to increase 737 production. Investors appear concerned that a work stoppage could interrupt Boeing’s recovery. Boeing slides as labor vote uncertainty outweighs operational progress
• Negative Sentiment: Boeing is advancing repairs to Air Force One, but window replacement and interior work could threaten the program’s schedule, adding another execution risk to the company’s defense business. Boeing advances Air Force One repairs

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.