The Boeing Company $BA Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc raised its stake in shares of The Boeing Company (NYSE:BA) by 72.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 189,333 shares of the aircraft producer’s stock after purchasing an additional 79,723 shares during the quarter. CIBC Asset Management Inc’s holdings in Boeing were worth $41,108,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Measured Wealth Private Client Group LLC purchased a new stake in shares of Boeing in the 3rd quarter valued at $25,000. Ares Financial Consulting LLC purchased a new stake in shares of Boeing in the 4th quarter valued at $26,000. Strategic Wealth Advisors LLC purchased a new stake in shares of Boeing in the 4th quarter valued at $27,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Boeing in the 4th quarter valued at $28,000. Finally, American National Bank & Trust boosted its holdings in shares of Boeing by 124.2% in the 4th quarter. American National Bank & Trust now owns 139 shares of the aircraft producer’s stock valued at $30,000 after acquiring an additional 77 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Key Headlines Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Negative Sentiment: NASA is reportedly reconsidering Boeing’s role after the Starliner debacle, renewing scrutiny of Boeing’s reliability in space contracts and adding to investor concern about future aerospace business. “Under Review”: Boeing Stock (NYSE:BA) Slides as NASA Reconsiders
• Negative Sentiment: Another headline warned that Boeing’s 777X orders may be at risk, raising fears that certification delays could lead airlines to reconsider or reduce commitments for the long-delayed aircraft. Boeing Stock (NYSE:BA) Plunges, 777X Orders May be at Risk
• Positive Sentiment: Norwegian Air Shuttle agreed to buy an additional Boeing 737-800, which is a modest vote of confidence in Boeing’s narrow-body fleet and ongoing airline demand. Norwegian Air Shuttle Buys Additional Boeing 737-800 to Strengthen Fleet Ownership
• Neutral Sentiment: Several analyst-style articles highlighted that Boeing has outperformed its industry over the past six months and that its turnaround is underway, but they also noted lingering weak spots and that much of the recovery may already be reflected in the share price. BA Stock Outperforms Industry in 6 Months: Should You Stay Invested? Boeing: The Comeback Is Real, But Weak Spots Remain Boeing’s Turnaround Is Real, But The Stock Already Knows It

Insider Transactions at Boeing

In other news, Director Bradley D. Tilden purchased 1,370 shares of the 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 owned 1,370 shares of the company’s stock, valued at approximately $299,345. This represents a ? increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wells Fargo & Company assumed coverage on shares of Boeing in a report on Wednesday, April 1st. They issued an “overweight” rating and a $250.00 price objective on the stock. Morgan Stanley upped their price objective on shares of Boeing from $245.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, April 23rd. Wolfe Research reaffirmed an “outperform” rating and issued a $275.00 price objective on shares of Boeing in a report on Thursday, April 23rd. Citigroup upped 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. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Boeing in a report on Wednesday, March 4th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Boeing has an average rating of “Moderate Buy” and an average target price of $259.80.

Boeing Stock Performance

Shares of NYSE BA opened at $210.89 on Thursday. The company’s fifty day moving average price is $220.05 and its 200 day moving average price is $220.18. The Boeing Company has a 1 year low of $176.77 and a 1 year high of $254.35. The company has a market capitalization of $166.24 billion, a PE ratio of 102.37 and a beta of 1.19. The company has a debt-to-equity ratio of 7.42, a quick ratio of 0.35 and a current ratio of 1.18.

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

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.