Cadinha & Co. LLC significantly increased its investment in The Boeing Company (NYSE: BA) by 718.3% during the third quarter, as reported in its latest 13F filing with the SEC. The institutional investor now holds 73,697 shares of Boeing, having acquired an additional 64,691 shares during this period. Boeing represents 2.2% of Cadinha & Co. LLC’s overall holdings, making it the firm’s 21st largest investment, valued at approximately $15.9 million.
Other institutional investors have also been active in the Boeing stock market. Vanguard Group Inc. increased its stake by 1.7% in the second quarter, owning 66,773,360 shares valued at $13.99 billion after adding 1,118,316 shares. Geode Capital Management LLC reported a 2.7% rise in its holdings, acquiring 432,026 additional shares to bring its total to 16,316,838, worth $3.40 billion. Fisher Asset Management LLC raised its position by 3.8% with an additional 196,666 shares, resulting in total ownership of 5,327,443 shares valued at $1.12 billion. Charles Schwab Investment Management Inc. and Legal & General Group Plc also increased their holdings during the second quarter, reflecting a trend among institutional investors, who collectively own 64.82% of Boeing’s stock.
In insider activity, EVP Uma M. Amuluru sold 1,366 shares on November 6 at an average price of $197.66, totaling approximately $270,003.56. Following this transaction, Amuluru’s remaining shares were valued at about $2.90 million. Conversely, SVP Dana S. Deasy bought 554 shares on November 24 at an average price of $178.88, which increased his position by 1.99%.
Analysts’ perspectives on Boeing are mixed but leaning towards optimism. The Goldman Sachs Group has reaffirmed a “buy” rating, while Sanford C. Bernstein issued an “outperform” rating with a price target of $267. New Street Research established a target at $257, and JPMorgan Chase & Co. raised its price target from $240 to $245, maintaining an “overweight” rating. Overall, the stock holds an average rating of “Moderate Buy” with a consensus price target of $233.17.
Currently, Boeing shares opened at $216.34, with a market capitalization of $164.44 billion. Despite posting a disappointing quarterly earnings loss of $7.47 per share, which was significantly below analyst expectations, the company recorded an increase in revenue, reporting $23.27 billion for the quarter compared to analyst predictions of $21.61 billion.
Boeing continues to be a pivotal player in the aerospace sector, providing a range of products and services, including commercial airplanes and defense systems. Founded in 1916, the company is headquartered in Arlington, Virginia, and has a rich history of innovation in aviation and defense.
As Boeing navigates through challenges and opportunities, the sustained interest from institutional investors reflects confidence in the company’s future potential and resilience in the marketplace.