TLDR
- Boeing stock was up 1.26% in premarket trading at $216.74 on Monday
- Philippine Airlines ordered up to 20 787 Dreamliners; Riyadh Air exercised options for 28 more 787s
- SMBC Aviation Capital ordered 100 737 MAX jets, expanding its portfolio to 450 aircraft
- Sound Shore Management initiated a $70.66 million position in Boeing in Q1
- Earnings due July 28; analysts expect a loss of $0.27 EPS on revenue of $23.90 billion
Boeing (BA) stock climbed 1.26% in premarket trading Monday, hitting $216.74, as a wave of aircraft orders dropped at the Farnborough Air Show gave the stock a lift.
Philippine Airlines committed to purchase up to 20 787 Dreamliners, including 15 firm 787-10s with options for five more. The deal supports the carrier’s fleet expansion plans.
SMBC Aviation Capital placed an order for 100 737 MAX jets — 60 of the 737-10 variant and 40 of the 737-8. It’s the Dublin-based leasing firm’s first order for the 737 MAX 10, bringing its total 737 MAX portfolio to 450 aircraft.
SMBC also ordered 100 A320neo aircraft from Airbus at the same show, splitting its business evenly between the two manufacturers.
Riyadh Air exercised options for 28 additional 787 Dreamliners, converting 20 of those to the larger 787-10 variant. A previously undisclosed purchase of 11 Dreamliners was also revealed, which will push the airline’s firm 787 order book to 67 aircraft once the remaining 17 jets are finalized.
Boeing’s Commercial Airplanes head Stephanie Pope said the SMBC order “reflects the strong demand we are seeing for the 737 MAX family’s efficiency, reliability and versatility.”
Institutional Money Moving In
Alongside the order news, Boeing continued to attract institutional buying. Sound Shore Management initiated a new position worth $70.66 million in Q1, picking up 355,009 shares. Boeing now accounts for 2.4% of the fund’s holdings.
Other large investors also added to their positions. Vanguard lifted its stake by 5.1% in Q4, Janus Henderson grew its position by 43.1%, and Viking Global increased its holding by 31.3%. In total, institutional investors and hedge funds now own 64.82% of Boeing’s stock.
Director Bradley D. Tilden also bought 1,370 shares at $218.50 each in May, a total transaction of $299,345.
Earnings on Deck
Boeing reports Q2 earnings on July 28. Wall Street is expecting a loss of $0.27 per share on revenue of $23.90 billion. That would be a marked improvement from the $1.24 per share loss in the same quarter last year, and revenue would be up from $22.75 billion year-over-year.
The stock carries a consensus “Moderate Buy” rating with an average price target of $261.53. Tigress Financial has the most bullish target on the Street at $295, while Morgan Stanley sits at an equal-weight with a $250 target.
From a technical standpoint, the stock remains below all key moving averages. It’s trading 1.9% below the 20-day SMA, 2.7% below the 50-day, and 1.6% below the 100-day. Key resistance sits at $232, with support around $214.
Boeing opened Monday at $214.38, with a 52-week range of $176.77 to $254.35.
Stop guessing and start investing with confidence. KnockoutStocks gives you the AI insights, market intelligence, and stock research you need to spot opportunities, cut through the noise, and make smarter investment decisions — all in one powerful platform.
Sign up today and get 50% OFF full access to our premium stock picks.
Simply use coupon code SPECIAL50 at checkout to claim your exclusive discount.
Be the first to comment