FengHe Fund Management Pte. Ltd. Buys New Stake in The Boeing Company $BA

FengHe Fund Management Pte. Ltd. purchased a new position in shares of The Boeing Company (NYSE:BAFree Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 163,900 shares of the aircraft producer’s stock, valued at approximately $35,375,000. Boeing makes up 3.2% of FengHe Fund Management Pte. Ltd.’s holdings, making the stock its 14th largest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alpha Cubed Investments LLC grew its holdings in Boeing by 43.3% in the second quarter. Alpha Cubed Investments LLC now owns 3,598 shares of the aircraft producer’s stock valued at $754,000 after purchasing an additional 1,088 shares during the period. McElhenny Sheffield Capital Management LLC acquired a new position in shares of Boeing in the 2nd quarter valued at $62,859,000. Vanguard Group Inc. grew its stake in shares of Boeing by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 66,773,360 shares of the aircraft producer’s stock valued at $13,991,022,000 after buying an additional 1,118,316 shares during the period. SteelPeak Wealth LLC increased its holdings in shares of Boeing by 50.4% during the 3rd quarter. SteelPeak Wealth LLC now owns 26,360 shares of the aircraft producer’s stock worth $5,689,000 after buying an additional 8,833 shares during the last quarter. Finally, Patton Fund Management Inc. raised its position in shares of Boeing by 734.4% in the 3rd quarter. Patton Fund Management Inc. now owns 10,322 shares of the aircraft producer’s stock worth $2,228,000 after buying an additional 9,085 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Key Stories Impacting Boeing

Here are the key news stories impacting Boeing this week:

Insiders Place Their Bets

In other Boeing news, EVP Uma M. Amuluru sold 1,366 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $197.66, for a total transaction of $270,003.56. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Dana S. Deasy bought 554 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was bought at an average price of $178.88 per share, for a total transaction of $99,099.52. Following the purchase, the senior vice president 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.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group reissued a “buy” rating on shares of Boeing in a research report on Tuesday, December 9th. Loop Capital set a $223.00 target price on shares of Boeing in a research report on Monday, November 3rd. BNP Paribas set a $150.00 price objective on shares of Boeing in a research note on Tuesday, November 18th. Jefferies Financial Group set a $255.00 target price on shares of Boeing in a research note on Tuesday, September 30th. Finally, Susquehanna decreased their price target on shares of Boeing from $270.00 to $255.00 and set a “positive” rating for the company in a research report on Wednesday, November 12th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and a consensus price target of $235.33.

Read Our Latest Research Report on BA

Boeing Stock Performance

Shares of NYSE BA opened at $234.32 on Friday. The firm has a market cap of $178.10 billion, a price-to-earnings ratio of -17.13, a PEG ratio of 6.48 and a beta of 1.16. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The stock’s 50-day simple moving average is $203.97 and its 200-day simple moving average is $215.75.

Boeing (NYSE:BAGet Free Report) last announced its earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The business had revenue of $23.27 billion during the quarter, compared to the consensus estimate of $21.61 billion. The firm’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($10.44) earnings per share. As a group, research analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Boeing Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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