Connective Portfolio Management LLC Makes New $1.11 Million Investment in The Boeing Company $BA

Connective Portfolio Management LLC acquired a new stake in The Boeing Company (NYSE:BA) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 5,175 shares of the aircraft producer’s stock, valued at approximately $1,114,000. Boeing accounts for about 2.0% of Connective Portfolio Management LLC’s portfolio, making the stock its 21st largest position.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Boeing by 1.7% during the second quarter. Vanguard Group Inc. now owns 66,773,360 shares of the aircraft producer’s stock worth $13,991,022,000 after buying an additional 1,118,316 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Boeing by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 16,316,838 shares of the aircraft producer’s stock worth $3,402,073,000 after acquiring an additional 432,026 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Boeing by 3.8% during the 2nd quarter. Fisher Asset Management LLC now owns 5,327,443 shares of the aircraft producer’s stock worth $1,116,259,000 after acquiring an additional 196,666 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Boeing by 1.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,242,397 shares of the aircraft producer’s stock valued at $888,910,000 after acquiring an additional 44,338 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Boeing by 6.3% during the 2nd quarter. Legal & General Group Plc now owns 3,145,620 shares of the aircraft producer’s stock valued at $659,102,000 after purchasing an additional 187,545 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Trading Down 0.8%

Shares of BA stock opened at $216.34 on Friday. The stock has a 50 day simple moving average of $202.10 and a 200 day simple moving average of $214.27. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The stock has a market cap of $164.44 billion, a P/E ratio of -15.81 and a beta of 1.18.

Boeing (NYSE:BA) last released its earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The firm had revenue of $23.27 billion during the quarter, compared to analysts’ expectations of $21.61 billion. The business’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same period last year, the firm posted ($10.44) EPS. Analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Wall Street Analyst Weigh In

BA has been the topic of several research reports. UBS Group reiterated a “buy” rating on shares of Boeing in a report on Wednesday, December 10th. Susquehanna lowered their price target on shares of Boeing from $270.00 to $255.00 and set a “positive” rating on the stock in a report on Wednesday, November 12th. The Goldman Sachs Group restated a “buy” rating on shares of Boeing in a research report on Tuesday, December 9th. Deutsche Bank Aktiengesellschaft downgraded Boeing from a “buy” rating to a “hold” rating and set a $240.00 target price on the stock. in a research report on Thursday, October 30th. Finally, Jefferies Financial Group set a $255.00 price target on Boeing in a report on Tuesday, September 30th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have issued a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $233.17.

Insider Transactions at Boeing

In other Boeing news, EVP Uma M. Amuluru sold 1,366 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $197.66, for a total value of $270,003.56. Following the transaction, the executive vice president directly 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Dana S. Deasy bought 554 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was purchased at an average price of $178.88 per share, with a total value of $99,099.52. Following the completion of the transaction, the senior vice president directly owned 28,442 shares in the company, valued at approximately $5,087,704.96. This represents a 1.99% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.09% of the company’s stock.

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.