Chesapeake Asset Management LLC Has $1.69 Million Stock Holdings in The Boeing Company $BA

Chesapeake Asset Management LLC grew its stake in The Boeing Company (NYSE:BA) by 80.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,820 shares of the aircraft producer’s stock after acquiring an additional 3,482 shares during the period. Boeing accounts for approximately 1.5% of Chesapeake Asset Management LLC’s holdings, making the stock its 14th largest position. Chesapeake Asset Management LLC’s holdings in Boeing were worth $1,688,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Revolve Wealth Partners LLC bought a new stake in shares of Boeing during the 4th quarter worth approximately $201,000. Ieq Capital LLC raised its position in Boeing by 4.8% during the first quarter. Ieq Capital LLC now owns 9,739 shares of the aircraft producer’s stock worth $1,661,000 after acquiring an additional 447 shares in the last quarter. Trexquant Investment LP acquired a new stake in Boeing in the first quarter valued at $3,791,000. Driehaus Capital Management LLC grew its position in shares of Boeing by 19.7% in the 1st quarter. Driehaus Capital Management LLC now owns 4,426 shares of the aircraft producer’s stock valued at $755,000 after acquiring an additional 727 shares during the period. Finally, Vident Advisory LLC increased its stake in shares of Boeing by 63.1% during the 1st quarter. Vident Advisory LLC now owns 14,479 shares of the aircraft producer’s stock worth $2,469,000 after purchasing an additional 5,600 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Insider Activity

In other Boeing news, SVP Dana S. Deasy purchased 554 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were acquired at an average cost of $178.88 per share, with a total value of $99,099.52. Following the completion of the transaction, the senior vice president owned 28,442 shares in the company, valued at $5,087,704.96. The trade was a 1.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Uma M. Amuluru sold 1,366 shares of Boeing stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $197.66, for a total transaction of $270,003.56. Following the completion of the sale, the executive vice president 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 SEC filing for this sale provides additional information. Corporate insiders own 0.09% of the company’s stock.

Boeing Trading Down 0.8%

NYSE:BA opened at $216.34 on Monday. The stock has a 50 day simple moving average of $202.10 and a 200 day simple moving average of $214.26. The stock has a market cap of $164.44 billion, a P/E ratio of -15.81 and a beta of 1.18. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $242.69.

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

Analysts Set New Price Targets

Several brokerages recently issued reports on BA. Deutsche Bank Aktiengesellschaft downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $240.00 target price for the company. in a research note on Thursday, October 30th. BNP Paribas Exane initiated coverage on Boeing in a research note on Tuesday, November 18th. They set an “underperform” rating and a $150.00 target price for the company. Zacks Research raised Boeing from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. Jefferies Financial Group set a $255.00 price target on Boeing in a report on Tuesday, September 30th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Boeing in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and a consensus target price of $233.17.

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.