TD Waterhouse Canada Inc. significantly boosted its stake in The Boeing Company (NYSE: BA) during the third quarter, increasing its holdings by 31.1%. The firm now owns 126,482 shares, valued at $23,532,000, after purchasing an additional 30,021 shares. This move aligns with broader institutional interest, as several other hedge funds also adjusted their positions in Boeing.
Hanson & Doremus Investment Management raised its stake by 0.9%, now holding 16,557 shares worth $3,080,000. Pension & Wealth Management Advisors Inc. saw a dramatic increase of 2,096.5%, acquiring 13,145 additional shares to own 13,772 shares valued at $2,562,000. Other firms, including Annex Advisory Services LLC, Vanguard Capital Wealth Advisors, and Riverbend Wealth Management LLC, also expanded their holdings in Boeing.
Boeing's stock opened at $189.98 on Friday, with a market cap of $150.16 billion. The company's financials show a quick ratio of 0.33, a current ratio of 1.14, and a debt-to-equity ratio of 6.77. Despite reporting a loss of $0.76 per share in the last quarter, revenue increased by 8.0% year-over-year to $24.56 billion.
Analysts remain divided on Boeing's outlook. While some, like Barclays, maintain an optimistic stance with a $300 price target, others, such as Morgan Stanley, have lowered their targets due to concerns over defense-budget uncertainty. The stock currently has a consensus rating of "Moderate Buy" with an average price target of $266.96.