ING Groep NV Grows Stock Position in The Boeing Company $BA

ING Groep NV raised its holdings in The Boeing Company (NYSE:BA) by 2,073.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 772,400 shares of the aircraft producer’s stock after buying an additional 736,861 shares during the quarter. Boeing comprises 1.0% of ING Groep NV’s holdings, making the stock its 20th largest position. ING Groep NV’s holdings in Boeing were worth $167,703,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BA. Measured Wealth Private Client Group LLC purchased a new stake in Boeing in the third quarter valued at about $25,000. Ares Financial Consulting LLC purchased a new stake in Boeing in the fourth quarter valued at about $26,000. Strategic Wealth Advisors LLC purchased a new stake in Boeing in the fourth quarter valued at about $27,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Boeing in the fourth quarter valued at about $28,000. Finally, American National Bank & Trust raised its stake in Boeing by 124.2% in the fourth quarter. American National Bank & Trust now owns 139 shares of the aircraft producer’s stock valued at $30,000 after buying an additional 77 shares during the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BA has been the subject of a number of research analyst reports. Jefferies Financial Group reiterated a “buy” rating on shares of Boeing in a research note on Wednesday, March 4th. Wolfe Research restated an “outperform” rating and issued a $275.00 price objective on shares of Boeing in a research note on Thursday, April 23rd. Wells Fargo & Company assumed coverage on Boeing in a research note on Wednesday, April 1st. They issued an “overweight” rating and a $250.00 price objective for the company. Tigress Financial raised their price objective on Boeing from $290.00 to $295.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings cut Boeing from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $259.80.

Insider Buying and Selling

In related news, Director Bradley D. Tilden bought 1,370 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average cost of $218.50 per share, with a total value of $299,345.00. Following the completion of the acquisition, the director directly owned 1,370 shares in the company, valued at approximately $299,345. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.10% of the stock is currently owned by company insiders.

Key Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing said it will start building 737 MAX jets on a new final assembly line in Everett, Washington, on July 6, a sign that the company is getting closer to ramping production and potentially lifting output toward 52 jets per month. Boeing to start 737 Max production on new assembly line July 6, CEO says
• Positive Sentiment: Boeing delivered the first two 787 Dreamliners to Riyadh Air, reinforcing steady commercial aircraft demand and giving investors another concrete delivery milestone. Boeing Delivers Riyadh Air’s First Two 787 Dreamliner Jets
• Positive Sentiment: Reports that China may consider additional aircraft purchases, along with interest from airlines such as Qantas and Singapore Airlines in wide-body orders, are supporting the view that Boeing could benefit from stronger future demand. China Considering Further Aircraft Purchases, Boeing Stock (NYSE:BA) Jumps
• Neutral Sentiment: Analyst commentary continues to highlight Boeing’s improving delivery momentum and large commercial backlog, which supports the long-term outlook but does not appear to be a direct catalyst today. Can Boeing’s Commercial Aircraft Delivery Momentum Lift Performance?
• Negative Sentiment: A German investigation has been opened into the Boeing 787 nose-gear collapse in Frankfurt, and reports say several workers were injured, adding to safety concerns around the 787 program. German investigators launch probe into Boeing 787 incident in Frankfurt
• Negative Sentiment: Separate reports on the Frankfurt 787 incident and the resulting injuries are likely weighing on sentiment because they revive concerns about Boeing’s quality-control and reliability record. Several injured in Boeing 787 nose-gear collapse in Frankfurt
• Negative Sentiment: Even with the production and delivery updates, Boeing shares are also being pressured by a broader market rotation away from riskier names, helping explain why the stock is under pressure despite the company-specific positives. What’s Going On With Boeing Stock Friday?

Boeing Trading Down 0.8%

Shares of NYSE:BA opened at $215.72 on Friday. The Boeing Company has a 52-week low of $176.77 and a 52-week high of $254.35. The stock has a market cap of $170.05 billion, a price-to-earnings ratio of 104.72 and a beta of 1.19. The company has a quick ratio of 0.35, a current ratio of 1.18 and a debt-to-equity ratio of 7.42. The business has a 50-day moving average price of $220.80 and a 200-day moving average price of $220.31.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.48. The firm had revenue of $22.22 billion during the quarter, compared to analysts’ expectations of $22.15 billion. During the same quarter in the previous year, the business earned ($0.49) earnings per share. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. Equities analysts predict that The Boeing Company will post -0.15 EPS 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.