Highland Capital Management LLC Buys 4,453 Shares of The Boeing Company $BA

Highland Capital Management LLC increased its stake in The Boeing Company (NYSE:BA) by 8.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 54,322 shares of the aircraft producer’s stock after purchasing an additional 4,453 shares during the quarter. Highland Capital Management LLC’s holdings in Boeing were worth $11,724,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC acquired a new stake in Boeing in the second quarter valued at $378,459,000. Vanguard Group Inc. lifted its stake in Boeing by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 66,773,360 shares of the aircraft producer’s stock valued at $13,991,022,000 after purchasing an additional 1,118,316 shares during the last quarter. Amundi lifted its stake in Boeing by 75.5% in the 2nd quarter. Amundi now owns 1,776,634 shares of the aircraft producer’s stock valued at $376,700,000 after purchasing an additional 764,236 shares during the last quarter. Bessemer Group Inc. grew its holdings in Boeing by 3,581.5% during the second quarter. Bessemer Group Inc. now owns 711,824 shares of the aircraft producer’s stock worth $149,149,000 after purchasing an additional 692,489 shares during the period. Finally, Rovida Advisors Inc. acquired a new position in Boeing during the second quarter worth approximately $129,231,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Uma M. Amuluru sold 1,366 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $197.66, for a total transaction of $270,003.56. Following the sale, the executive vice president owned 14,656 shares of the company’s stock, valued at $2,896,904.96. This trade represents a 8.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Dana S. Deasy purchased 554 shares of the business’s stock in a transaction dated Monday, November 24th. The shares were purchased at an average cost of $178.88 per share, for a total transaction of $99,099.52. Following the completion of the purchase, the senior vice president directly owned 28,442 shares of the company’s stock, valued at approximately $5,087,704.96. This represents a 1.99% increase in their position. The SEC filing for this purchase provides additional information. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. BNP Paribas set a $150.00 price objective on shares of Boeing in a research report on Tuesday, November 18th. Zacks Research raised shares of Boeing from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $250.00 target price on shares of Boeing in a research report on Monday, September 29th. New Street Research set a $257.00 price objective on shares of Boeing in a report on Tuesday, December 9th. Finally, Citigroup began coverage on Boeing in a research note on Thursday, December 11th. They set a “buy” rating and a $265.00 price objective on the stock. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, Boeing currently has an average rating of “Moderate Buy” and a consensus price target of $233.17.

Boeing Trading Up 0.5%

BA stock opened at $218.03 on Friday. The stock has a market capitalization of $165.72 billion, a P/E ratio of -15.94 and a beta of 1.18. The firm has a 50-day moving average price of $202.03 and a 200-day moving average price of $214.28. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 29th. The aircraft producer reported ($7.47) EPS for the quarter, missing the consensus estimate of ($0.51) by ($6.96). The company had revenue of $23.27 billion for the quarter, compared to analyst estimates of $21.61 billion. During the same period last year, the firm posted ($10.44) earnings per share. Boeing’s revenue was up 30.4% compared to the same quarter last year. As a group, equities analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal 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.