IHT Wealth Management Boosts Boeing Stake by 9.5% in Q2 2023

IHT Wealth Management LLC has increased its investment 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 after acquiring an additional 3,494 shares. The total value of IHT’s holdings in Boeing is approximately $8,438,000.

Several other institutional investors have also adjusted their positions in Boeing recently. Kingstone Capital Partners Texas LLC purchased a new stake valued at around $378,459,000, while Vanguard Group Inc. raised its holdings by 1.7%, bringing its total to 66,773,360 shares worth $13,991,022,000. Amundi significantly increased its stake by 75.5%, acquiring 764,236 additional shares for a total of $376,700,000. Meanwhile, Bessemer Group Inc. saw a dramatic rise in its position, increasing its holdings by 3,581.5% to 711,824 shares, now valued at $149,149,000. Rovida Advisors Inc. also entered the fray with a new investment worth approximately $129,231,000. Overall, institutional investors hold 64.82% of Boeing’s stock.

Analyst Insights on Boeing’s Stock Performance

Boeing has been featured in multiple analyst reports recently. Weiss Ratings reaffirmed a “sell (D-)” rating on Boeing shares on October 8, 2023. In contrast, Citigroup initiated coverage with a “buy” rating and set a target price of $265.00. BNP Paribas Exane began its coverage with an “underperform” rating, setting a target price of $150.00. Loop Capital also provided a price target of $223.00. Current consensus data from MarketBeat.com indicates that Boeing holds an average rating of “Moderate Buy” with a consensus price target of $232.96.

Insider trading activity has also been notable. Senior Vice President Dana S. Deasy bought 554 shares on November 24, 2023, at an average price of $178.88, totaling $99,099.52. Following this transaction, Deasy now owns 28,442 shares valued at approximately $5,087,704.96, marking a 1.99% increase in their holdings. Conversely, Executive Vice President Uma M. Amuluru sold 1,366 shares on November 6, 2023, at an average price of $197.66, resulting in a total of $270,003.56. This sale decreased Amuluru’s holdings by 8.53%.

Boeing’s Financial Performance and Market Outlook

Boeing’s stock performance has been noteworthy, opening at $204.33 on October 29, 2023. Over the past year, shares have fluctuated between a low of $128.88 and a high of $242.69. The company reported a market capitalization of $155.31 billion, a price-to-earnings ratio of -14.94, and a beta of 1.18.

In its latest earnings report, Boeing announced a loss of ($7.47) per share, which fell short of analysts’ expectations of ($0.51). The firm reported revenues of $23.27 billion, exceeding analyst estimates of $21.61 billion, representing a year-over-year revenue increase of 30.4%. In the same quarter last year, Boeing had reported earnings of ($10.44) per share. Analysts anticipate that Boeing will post an average earnings per share of ($2.58) for the current fiscal year.

The Boeing Company is a leading global aerospace firm, engaging in the design, development, manufacturing, and servicing of commercial jetliners, military aircraft, and space systems. Its operations are categorized into Commercial Airplanes, Defense, Space & Security, and Global Services, making it a critical player in the aerospace industry.