Resona Asset Management Co. Ltd. Raises Holdings in The Boeing Company $BA

Resona Asset Management Co. Ltd. raised its stake in The Boeing Company (NYSE:BA) by 2.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 238,230 shares of the aircraft producer’s stock after purchasing an additional 5,794 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Boeing were worth $46,982,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in BA. Capstone Capital Management Ltd boosted its stake in shares of Boeing by 10.0% in the 1st quarter. Capstone Capital Management Ltd now owns 17,336 shares of the aircraft producer’s stock valued at $3,450,000 after buying an additional 1,571 shares during the period. CFS Investment Advisory Services LLC increased its stake in shares of Boeing by 3.2% during the first quarter. CFS Investment Advisory Services LLC now owns 2,457 shares of the aircraft producer’s stock worth $489,000 after buying an additional 77 shares during the period. First Interstate Bank increased its stake in shares of Boeing by 549.3% during the first quarter. First Interstate Bank now owns 6,337 shares of the aircraft producer’s stock worth $1,261,000 after buying an additional 5,361 shares during the period. Seelaus Asset Management LLC raised its holdings in Boeing by 46.0% in the first quarter. Seelaus Asset Management LLC now owns 5,029 shares of the aircraft producer’s stock valued at $1,001,000 after acquiring an additional 1,585 shares in the last quarter. Finally, IAG Wealth Partners LLC raised its holdings in Boeing by 12,332.1% in the first quarter. IAG Wealth Partners LLC now owns 3,481 shares of the aircraft producer’s stock valued at $693,000 after acquiring an additional 3,453 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

More Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing’s production recovery is still intact, with 737 output stabilized and plans to ramp higher, while certification progress on the 737-7/737-10 and 777-9 supports the longer-term turnaround story. Boeing (BA) Could Be 13% Undervalued As 737 MAX Output Ramps Up
• Positive Sentiment: Denmark said it will buy two Boeing P-8A Poseidon maritime patrol aircraft, reinforcing demand for Boeing’s defense business. Denmark to buy two maritime patrol aircraft from Boeing, defence ministry says
• Positive Sentiment: Philippine Airlines is reportedly considering a widebody order that could include about 10 Boeing 787s, which would support backlog and long-term deliveries. Philippine Airlines Eyes 20 Widebody Jets Split Between Boeing and Airbus
• Neutral Sentiment: Investor attention remains elevated around Boeing, but one Zacks item was mainly a sentiment/visibility note rather than a fundamental catalyst. Investors Heavily Search The Boeing Company (BA): Here is What You Need to Know
• Negative Sentiment: Two recent 737 MAX incidents on Southwest flights have put Boeing back in the spotlight and may renew concerns about product reliability and future inspections or delays. Boeing Co. (NYSE: BA)
• Negative Sentiment: Boeing also faces execution risk from wiring rework, 787 delays, and Spirit AeroSystems integration costs, which could pressure cash flow if problems persist. The Boeing Company Stock

Boeing Stock Performance

Shares of BA opened at $224.67 on Thursday. The company has a market capitalization of $177.11 billion, a price-to-earnings ratio of 109.06 and a beta of 1.21. The Boeing Company has a 52-week low of $176.77 and a 52-week high of $254.35. 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 stock has a 50 day moving average price of $223.46 and a 200 day moving average price of $224.74.

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

Insider Activity at Boeing

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

Analysts Set New Price Targets

Several research analysts have commented on the stock. Tigress Financial boosted their price target on shares of Boeing from $290.00 to $295.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Citigroup raised their price objective on shares of Boeing from $256.00 to $260.00 and gave the company a “buy” rating in a report on Monday, May 18th. Weiss Ratings cut shares of Boeing from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, April 24th. Wolfe Research reiterated an “outperform” rating and set a $275.00 target price on shares of Boeing in a research note on Thursday, April 23rd. Finally, Wells Fargo & Company started coverage on Boeing in a report on Wednesday, April 1st. They issued an “overweight” rating and a $250.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Boeing has an average rating of “Moderate Buy” and an average target price of $261.61.

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.