Inspire Trust Co. N.A. Acquires 6,000 Shares of The Boeing Company $BA

Inspire Trust Co. N.A. grew its holdings in The Boeing Company (NYSE:BA) by 23.5% during the 3rd quarter, Holdings Channel reports. The firm owned 31,500 shares of the aircraft producer’s stock after buying an additional 6,000 shares during the period. Inspire Trust Co. N.A.’s holdings in Boeing were worth $5,861,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BA. SteelPeak Wealth LLC raised its stake in Boeing by 660.0% in the 3rd quarter. SteelPeak Wealth LLC now owns 94,976 shares of the aircraft producer’s stock valued at $17,670,000 after purchasing an additional 82,479 shares during the last quarter. McAlister Sweet & Associates Inc. lifted its holdings in Boeing by 57.2% in the 3rd quarter. McAlister Sweet & Associates Inc. now owns 45,420 shares of the aircraft producer’s stock valued at $8,450,000 after purchasing an additional 16,531 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of Boeing by 16.0% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 42,417 shares of the aircraft producer’s stock worth $9,182,000 after purchasing an additional 5,862 shares during the last quarter. T3 Companies LLC boosted its stake in shares of Boeing by 1,487.1% during the 3rd quarter. T3 Companies LLC now owns 17,458 shares of the aircraft producer’s stock worth $3,248,000 after purchasing an additional 16,358 shares during the last quarter. Finally, Mather Group LLC. grew its holdings in shares of Boeing by 347.3% during the third quarter. Mather Group LLC. now owns 23,183 shares of the aircraft producer’s stock worth $4,313,000 after buying an additional 18,000 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Key Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing recorded its strongest October aircraft orders since 1997, a sign of solid demand that could support its longer-term production backlog. Article: Boeing posts strongest October aircraft orders since 1997
• Neutral Sentiment: A Boeing executive said the company will stay close to the factory floor to obtain candid safety information. The focus on safety may support oversight, though the report gives no new operational changes or financial targets. Article: Boeing to stay close to factory floor for tough safety information, exec says
• Negative Sentiment: October jet deliveries fell 14% and were down from both the prior month and year-earlier period, trailing Airbus’s tally. Fewer deliveries can delay revenue and cash collection, making this a near-term execution concern despite strong orders. Article: Boeing jet deliveries drop 14% in October
• Negative Sentiment: Boeing plans to cut about 5% of its Commercial Airplanes workforce—roughly 2,500 employees—through layoffs and attrition. Management cited slower-than-expected production growth and overstaffing. The cuts may reduce costs, but they also underscore delays in ramping up aircraft output and weighed on sentiment. Article: Boeing to cut 5% of commercial airplane workforce as production increase is slower than expected

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Cantor Fitzgerald lowered shares of Boeing to a “neutral” rating in a research report on Tuesday, August 11th. Wells Fargo & Company reduced their price objective on shares of Boeing from $250.00 to $210.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 28th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Boeing from $244.00 to $248.00 and gave the stock a “hold” rating in a research note on Wednesday, July 29th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Boeing in a report on Monday, October 19th. Finally, BNP Paribas Exane raised Boeing to a “neutral” rating in a research note on Wednesday, October 28th. One 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and an average target price of $247.88.

Boeing Trading Up 0.6%

Shares of BA stock opened at $173.37 on Wednesday. The firm’s 50-day simple moving average is $190.95 and its 200-day simple moving average is $214.64. The company has a debt-to-equity ratio of 6.31, a current ratio of 1.13 and a quick ratio of 0.34. The Boeing Company has a 1-year low of $165.01 and a 1-year high of $254.35. The firm has a market cap of $137.39 billion, a P/E ratio of 18.86 and a beta of 1.34.

Boeing (NYSE:BA) last released its earnings results on Tuesday, October 27th. The aircraft producer reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.09). Boeing had a net margin of 7.98% and a negative return on equity of 42.40%. The company had revenue of $24.19 billion during the quarter, compared to analysts’ expectations of $23.95 billion. During the same quarter in the previous year, the firm posted ($7.47) earnings per share. Boeing’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, equities analysts forecast that The Boeing Company will post -1.84 EPS for the current year.

Insiders Place Their Bets

In other news, Director Steven M. Mollenkopf acquired 2,950 shares of the company’s stock in a transaction dated Friday, October 30th. The stock was acquired at an average cost of $173.03 per share, for a total transaction of $510,438.50. Following the acquisition, the director directly owned 6,717 shares in the company, valued at approximately $1,162,242.51. This represents a 78.31% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mortimer J. Buckley bought 5,820 shares of the business’s stock in a transaction that occurred on Friday, October 30th. The stock was purchased at an average cost of $171.55 per share, for a total transaction of $998,421.00. Following the completion of the transaction, the director directly owned 10,250 shares in the company, valued at approximately $1,758,387.50. This trade represents a 131.38% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.10% of the stock is owned by company insiders.

About Boeing

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.