Boeing Company (The) (NYSE: BA) heads into the last days of November trading around $189 a share after a bruising but eventful month for investors. The stock is being pulled in opposite directions by more than $7 billion in new U.S. defense contracts, a sharply scaled‑back NASA Starliner deal, a major Airbus A320 software recall that reshapes the competitive backdrop, and fresh insider and institutional activity around the name. [1]
Below is a structured rundown of all the key Boeing stock news in play as of 29 November 2025, plus what it may mean for BA shareholders and watchers.
Boeing stock price snapshot: where BA stands today
- Last close: $189.00 on Friday, November 28, 2025, up 1.11% on the day. [2]
- 52‑week range: roughly $128.88 – $242.69. [3]
- Market value: about $145 billion. [4]
- Recent performance:
BA is trading more than 20% below its 52‑week high, but well above its 2025 lows, leaving the stock squarely in “high‑beta recovery story” territory rather than outright distress.
Q3 2025: strong revenue, deep losses and a massive 777X charge
A lot of today’s debate about Boeing’s valuation still traces back to its third‑quarter 2025 earnings, released on October 29: [7]
- Revenue: about $23.3 billion, up ~30% year‑on‑year and comfortably above Wall Street expectations.
- GAAP EPS:–$7.14 per share.
- Core (non‑GAAP) EPS:–$7.47 per share.
- Key driver of losses: a $4.9 billion pre‑tax charge tied to further delays and certification work on the 777X program.
- Cash flow: positive operating cash flow of $1.1 billion and about $0.2 billion in free cash flow, a much better picture than 2024 despite the 777X hit.
- Backlog: roughly $636 billion, including more than 5,900 commercial aircraft valued around $535 billion. [8]
By segment:
- Commercial Airplanes
- Revenue jumped to $11.1 billion (up ~49% YoY) on 160 aircraft deliveries, the highest quarterly tally since 2018. [9]
- Still posted a multi‑billion‑dollar operating loss, hurt by the 777X charge and lingering 737 and 787 cost pressures.
- Defense, Space & Security (BDS)
- Revenue climbed to $6.9 billion, up about 25%.
- Returned to positive operating income (~1.7% margin) after deep losses a year earlier. [10]
- Global Services
- Revenue $5.37 billion, up ~10%.
- Operating margin around 17.5%, reflecting a relatively steady, profitable services franchise. [11]
Zacks notes that despite the revenue beat, the huge EPS miss and estimate cuts have left BA with a Zacks Rank #4 (Sell) and a weak composite value‑growth‑momentum score, even as it assigns Boeing a strong “Growth” score. [12]
Pentagon awards: more than $7 billion in fresh Apache and KC‑46A orders
The most clearly bullish news for Boeing this week is a pair of major U.S. military awards that together top $7 billion. [13]
$4.7 billion AH‑64E Apache contract
The U.S. Army approved a multi‑year contract worth nearly $4.7 billion for new‑build AH‑64E Apache attack helicopters, Longbow simulators and related equipment:
- Boeing’s own announcement from its Mesa, Arizona facility highlights that the latest deal covers 96 AH‑64E helicopters, plus crew trainers, spares and other support. [14]
- A substantial portion of the production is earmarked for international customers under the U.S. Foreign Military Sales program, including Poland, which is building out a large Apache fleet as part of its broader defense modernization push. [15]
$2.4–2.47 billion KC‑46A Pegasus tanker order
In parallel, the U.S. Air Force has added roughly $2.4–2.47 billion to Boeing’s long‑running KC‑46A Pegasus tanker program:
- The latest award funds 15 additional KC‑46A aircraft as Lot 12 of the program, with work expected to run through the middle of 2029. [16]
- Boeing now has about 183 KC‑46As under contract worldwide, with the U.S. Air Force’s acquisition strategy pointing to a potential fleet of 263 tankers. [17]
Taken together, these contracts:
- Deepen Boeing’s defense backlog at a time when its commercial business is still clawing back from the 737 MAX crisis and pandemic.
- Reinforce the Apache and KC‑46A as long‑term revenue pillars inside the BDS segment.
- Help buttress cash flow expectations into the late 2020s, although margins on big U.S. fixed‑price defense deals can be tight.
NASA trims Starliner contract: fewer missions, cargo only next flight
The most negative headline for Boeing this week comes from NASA’s Commercial Crew Program.
On November 24, NASA confirmed that it is modifying its contract with Boeing for the CST‑100 Starliner spacecraft: [18]
- The number of guaranteed post‑certification missions has been cut from six to four.
- The final two flights in the original six‑mission plan are now “optional”, contingent on performance and NASA’s operational needs before the ISS is retired around 2030.
- The next Starliner mission, Starliner‑1, will fly cargo only, with no astronauts on board, and is targeted for no earlier than April 2026 pending further testing. [19]
Starliner has already cost Boeing more than $2 billion in internal cost overruns on top of the roughly $4.2–4.5 billion fixed‑price contract NASA awarded in 2014. [20]
The latest contract revision sends several signals to investors:
- Space remains strategically important for Boeing’s brand and long‑term portfolio, but the near‑term earnings contribution is likely to be smaller and later than once assumed.
- NASA clearly wants a second crew transportation provider alongside SpaceX but is prioritizing safety and schedule reliability over sticking to the original mission count.
- For Boeing, Starliner is increasingly looking like a long‑dated, reputationally important, but financially challenging program.
Airbus A320 recall: sector risk, potential competitive opening
While not a Boeing issue directly, one of the biggest aviation stories on November 28–29 is a massive safety‑driven software recall on the Airbus A320 family, Boeing’s primary rival to the 737. [21]
Key points:
- Airbus and regulators ordered immediate software changes on around 6,000 A320‑family aircraft worldwide—more than half the global fleet—after investigators concluded that intense solar radiation can corrupt data in certain flight‑control computers, potentially causing abrupt changes in altitude.
- Airlines from the U.S., Europe, Asia and Australia scrambled to perform the updates before the aircraft’s next commercial flight, grounding hundreds of planes during the busy Thanksgiving and early holiday travel period. [22]
- Authorities describe the fix as relatively quick (hours per jet) but non‑optional, immediately highlighting the vulnerability and forcing A320 operators to juggle fleets.
For Boeing investors, the recall is a reminder that safety and software risks are industry‑wide, not unique to the 737 MAX. In the short term:
- The incident could slightly improve Boeing’s relative perception with some investors and airline customers, after years in which the MAX carried most of the safety stigma.
- However, Airbus still enjoys a stronger balance sheet and a bigger order book in single‑aisle jets, so one recall is unlikely to flip the long‑term competitive balance.
Labor peace at Boeing Defense after a three‑month strike
On the labor front, Boeing scored an important operational win earlier in November that remains highly relevant to today’s investment case.
On November 13, several thousand defense machinists in the U.S. Midwest, represented by the International Association of Machinists and Aerospace Workers (IAM), voted to approve a new five‑year contract, ending a roughly three‑month strike. [23]
According to coverage of the agreement:
- About 3,200 workers at Boeing’s St. Louis and St. Charles (Missouri) and Mascoutah (Illinois) sites will return to building fighter jets, weapons systems and the U.S. Navy’s first carrier‑based unmanned aircraft.
- The deal includes roughly a 24% wage increase over the life of the contract and a $6,000 signing bonus.
- The strike had “immaterial” impact on Q3 revenue, according to Boeing’s CFO, but it was a growing reputational and political risk, drawing attention from members of Congress. [24]
For shareholders, the new contract:
- Reduces near‑term execution risk in BDS just as Pentagon orders ramp up.
- Locks in higher labor costs, which will pressure margins but also may improve workforce stability and productivity.
Insider moves: one notable buy, one notable sale
November 29 also brings a cluster of insider‑trading headlines that investors are parsing for sentiment clues.
Dana Deasy buys shares
A widely‑circulated GuruFocus and MarketBeat alert notes that Dana S. Deasy, Boeing’s Chief Information Digital Officer / Senior Vice President, recently bought 554 Boeing shares in the open market: [25]
- Purchase date: November 24, 2025 (Form 4 filing).
- Average price: about $178.88–$178.89 per share.
- Total value: roughly $99,100.
- Post‑trade holdings: around 28,442 shares, an increase of just under 2% in his personal stake.
GuruFocus points out that:
- Boeing’s trailing EPS is deeply negative (~–13.7), with net margin around –12% and a highly leveraged balance sheet.
- Its Altman Z‑Score around 1.17 places it in a statistical “distress” zone, while the forward P/E is very high because consensus still expects a big swing back to profit. [26]
That context makes Deasy’s purchase look like a symbolic vote of confidence rather than a blockbuster bet, but the direction (buy vs. sell) still matters to many investors.
Uma Amuluru sells shares
At the same time, filings and MarketBeat coverage show that EVP Uma M. Amuluru sold 1,366 Boeing shares earlier in November: [27]
- Sale date: November 6, 2025.
- Average price:$197.66.
- Proceeds: about $270,000.
- Remaining holdings:14,656 shares, an 8.5% reduction in her position.
A Seeking Alpha news item on notable insider trades this week lists both the Deasy purchase and the Boeing sale among the key transactions between November 24 and 28. [28]
Overall, corporate insiders control only around 0.09% of Boeing’s shares, so these trades are modest in absolute terms but contribute to the sentiment mosaic. [29]
Institutional flows: big funds reposition around Boeing
Two MarketBeat pieces published on November 29 highlight activity by large institutional holders in BA: [30]
- The New York State Common Retirement Fund trimmed its Boeing stake by roughly 4.1% in Q2, selling 43,379 shares. After the sale, it still owned around 1.0 million BA shares, valued at over $200 million, making Boeing a meaningful but not dominant position in the pension portfolio. [31]
- Russell Investments Group Ltd.increased its BA holdings by about 18.4% in the same period, lifting its position to roughly 158,000 shares, valued in the low tens of millions of dollars. [32]
Across the shareholder base:
- Institutional investors and hedge funds collectively hold around 65% of Boeing’s outstanding shares. [33]
The combination of one major fund selling and another buying underscores that large investors are far from unanimous on near‑term risk‑reward, even as defense newsflow improves.
Wall Street’s view: “Moderate Buy” consensus with wide disagreement
A fresh MarketBeat round‑up on November 29 reports that Boeing currently carries an average recommendation of “Moderate Buy” from covering brokerages: [34]
According to that and related data:
- The analyst mix includes:
- 3 “Strong Buy” ratings
- 15 “Buy” ratings
- 3 “Hold” ratings
- 6 “Sell” ratings
- The average 12‑month price target is about $232, implying upside of ~20–25% from the current ~$189 level.
- Individual price targets range widely:
- Jefferies: $255
- Royal Bank of Canada: $250
- Loop Capital: $223
- Deutsche Bank: $240, but with a downgrade to Hold following Q3.
- BNP Paribas on the cautious end around $150. [35]
Other sources paint a similar but slightly more bullish picture:
- Ticker‑style forecast data aggregating around 39 Wall Street analysts puts median BA price targets closer to $250, with most ratings in the Buy bucket and only a single Sell, implying potential upside in the 30%+ range if those targets are met. [36]
Set against that, Zacks’s Rank #4 (Sell) and weak value/momentum grades highlight ongoing earnings‑estimate downgrades and valuation concerns. [37]
In short: “Street consensus” is bullish, but not unanimous, and the dispersion in price targets reflects genuine uncertainty about execution and timing.
Boeing’s balance sheet and risk profile: still not out of the woods
GuruFocus and other fundamental platforms emphasise that, despite revenue momentum and positive operating cash flow, Boeing’s financial health remains fragile: [38]
- Trailing net margin is around –12%, and operating margin is roughly –10%, reflecting heavy program charges and elevated production costs.
- Long‑term debt remains north of $50 billion, even though it has come down from peak levels.
- The Altman Z‑Score near 1.1–1.2 technically places Boeing in a statistical distress zone, though that metric can be harsh on large industrials with big long‑cycle backlogs.
- On non‑GAAP metrics, Boeing is gradually reducing free‑cash‑flow burn, but the path to sustainable, robust profitability still looks multi‑year.
Given that, even bullish analysts generally frame BA as a high‑risk recovery play, not a steady compounder.
What today’s Boeing news means for BA investors
Pulling all of November 29’s Boeing‑related headlines together, the investment picture looks like a classic push‑and‑pull:
Positive drivers
- Multi‑year defense visibility: Over $7 billion in new Apache and KC‑46A awards deepen Boeing’s defense backlog and support the case for improving BDS margins over time. [39]
- Commercial recovery: Q3 showed double‑digit revenue growth across all segments and the highest commercial deliveries since 2018, plus a huge backlog that provides years of production runway. [40]
- Labor peace in defense: The new IAM contract reduces near‑term strike risk at key U.S. defense plants. [41]
- Relative safety narrative: The Airbus A320 recall underscores that software and safety challenges are sector‑wide, easing (if only psychologically) some of the long‑standing “Boeing versus everyone else” stigma around flight‑control issues. [42]
- Insider buying signal: The Dana Deasy purchase is a small but visible insider vote of confidence at prices below $180. [43]
Negative and limiting factors
- Starliner cutback: NASA’s decision to reduce guaranteed Starliner missions and to fly the next test without crew is a clear blow to Boeing’s space ambitions and to the long‑term earnings potential of that program. [44]
- Heavy losses and leverage: The combination of ongoing GAAP losses, 777X charges, and a large debt pile keeps financial risk elevated.
- Mixed analyst and quant signals: While classic sell‑side analysts skew bullish with a “Moderate Buy” consensus, quantitative screens like Zacks still see the stock as unattractive in the near term, given estimate trends and valuation. [45]
- Share price volatility: With a beta around 1.4, BA tends to swing more than the market in both directions, and the last month has reminded investors that headline risk can move the stock by double digits in weeks. [46]
How to think about Boeing stock after November 29, 2025
For long‑term‑oriented investors, today’s news flow reinforces a familiar framing:
- The bull case leans on:
- A huge, multi‑year commercial and defense backlog.
- Improving cash generation as 737 and 787 production normalizes.
- New defense wins and a stabilizing labor environment.
- The possibility that today’s share price, well below recent highs, underestimates eventual margin recovery.
- The bear (or cautious) case emphasises:
- Ongoing execution risk on major programs like 777X and Starliner.
- Balance sheet strain and the possibility of further charges.
- Valuation that still looks demanding on near‑term earnings, given the depth of current losses.
- Competition from Airbus, which, despite its own recall, remains financially stronger.
Nothing in today’s headlines definitively resolves that tension, but they do tilt the near‑term narrative slightly toward operational progress (defense awards, labor deal) offset by Starliner disappointment.
As always, this article is for informational purposes only and does not constitute financial or investment advice. Anyone considering BA stock should weigh these developments against their own risk tolerance, time horizon, and portfolio needs—ideally with input from a qualified financial professional.
References
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