IHT Wealth Management Boosts Boeing Stake by 9.5% in Q2

IHT Wealth Management LLC has increased its stake in The Boeing Company (NYSE: BA) by 9.5% during the second quarter of 2023, according to a recent filing with the Securities and Exchange Commission. The firm now holds 40,272 shares of the aerospace giant, having acquired an additional 3,494 shares during the quarter. This investment is valued at approximately $8,438,000 as of the latest SEC report.

Other institutional investors have also made noteworthy adjustments to their Boeing holdings. Kingstone Capital Partners Texas LLC entered the market, purchasing a new position valued at around $378,459,000. Vanguard Group Inc. expanded its investment in Boeing by 1.7%, bringing its total shares to 66,773,360, worth approximately $13,991,022,000. Meanwhile, Amundi increased its stake by an impressive 75.5%, now owning 1,776,634 shares valued at about $376,700,000.

In a striking move, Bessemer Group Inc. raised its Boeing position by 3,581.5%, now holding 711,824 shares worth approximately $149,149,000. Additionally, Rovida Advisors Inc. acquired a new stake valued at around $129,231,000. Collectively, hedge funds and institutional investors now own 64.82% of Boeing’s stock.

Analysts Weigh In on Boeing’s Stock Performance

Boeing has recently been the focus of various analyst reports. Weiss Ratings has reaffirmed a “sell (d-)” rating for the stock, while Citigroup initiated coverage, assigning a “buy” rating and a target price of $265.00. In contrast, BNP Paribas Exane began its coverage with an “underperform” rating and a target price of $150.00. Loop Capital set a price target of $223.00, and the consensus from analysts shows an average rating of “Moderate Buy” with a combined price target of $232.96.

Currently, four analysts have given Boeing a Strong Buy rating, fourteen a Buy rating, three a Hold rating, and five a Sell rating, highlighting a diverse range of opinions on the stock’s future.

Insider Trading Activity

Recent insider transactions have also drawn attention. On November 24, 2023, Senior Vice President Dana S. Deasy purchased 554 shares at an average price of $178.88, totaling approximately $99,099.52. Post-transaction, Deasy owns 28,442 shares valued at about $5,087,704.96, reflecting a 1.99% increase in position.

Conversely, Executive Vice President Uma M. Amuluru sold 1,366 shares on November 6, 2023, for an average price of $197.66, amounting to $270,003.56. Following this transaction, Amuluru’s holdings decreased by 8.53%, leaving her with 14,656 shares valued at around $2,896,904.96.

Company insiders hold a mere 0.09% of Boeing’s stock.

Boeing’s Market Position and Financial Results

As of last Friday, Boeing shares opened at $204.33. The company has experienced a fifty-two week low of $128.88 and a high of $242.69. The stock’s fifty-day moving average stands at $202.82, while the two-hundred-day moving average is $214.03. With a market capitalization of $155.31 billion, Boeing currently has a price-to-earnings ratio of -14.94.

Boeing recently released its earnings results on October 29, 2023, reporting an earnings per share (EPS) loss of ($7.47), which fell short of analyst expectations of ($0.51) by ($6.96). The firm posted revenue of $23.27 billion, surpassing analyst forecasts of $21.61 billion, marking a 30.4% increase year-over-year. Analysts predict that Boeing will report an EPS of -2.58 for the current year.

About Boeing

The Boeing Company, including its subsidiaries, designs, develops, manufactures, and supports a range of products including commercial jetliners, military aircraft, satellites, and launch systems worldwide. The company operates through three main segments: Commercial Airplanes, Defense, Space & Security, and Global Services.

As Boeing continues to navigate a fluctuating market environment, investor interest remains high, reflecting both confidence and caution in the aerospace sector.