Old West Investment Management LLC Makes New Investment in The Boeing Company $BA

Old West Investment Management LLC acquired a new stake in shares of The Boeing Company (NYSE:BA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 69,454 shares of the aircraft producer’s stock, valued at approximately $15,035,000. Boeing accounts for about 1.6% of Old West Investment Management LLC’s holdings, making the stock its 22nd biggest position.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Boeing by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 70,989,438 shares of the aircraft producer’s stock valued at $15,413,227,000 after acquiring an additional 3,460,021 shares during the period. Newport Trust Company LLC boosted its stake in Boeing by 1.0% during the fourth quarter. Newport Trust Company LLC now owns 29,485,294 shares of the aircraft producer’s stock worth $6,401,847,000 after acquiring an additional 286,848 shares in the last quarter. Geode Capital Management LLC grew its holdings in Boeing by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 17,025,435 shares of the aircraft producer’s stock worth $3,679,592,000 after purchasing an additional 533,753 shares during the period. Fisher Asset Management LLC grew its holdings in Boeing by 2.5% in the fourth quarter. Fisher Asset Management LLC now owns 5,640,900 shares of the aircraft producer’s stock worth $1,224,752,000 after purchasing an additional 135,860 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Boeing by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,370,415 shares of the aircraft producer’s stock valued at $948,905,000 after purchasing an additional 138,469 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BA. Royal Bank Of Canada dropped their price target on Boeing from $275.00 to $265.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Btg Pactual set a $260.00 price objective on Boeing in a research note on Tuesday, July 14th. Morgan Stanley boosted their target price on Boeing from $245.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, April 23rd. Argus raised Boeing from a “hold” rating to a “buy” rating and set a $265.00 target price on the stock in a research note on Tuesday, August 11th. Finally, Wolfe Research downgraded Boeing from an “outperform” rating to a “hold” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $272.58.

Boeing Trading Down 0.1%

Shares of NYSE BA opened at $231.50 on Monday. The firm’s 50 day moving average price is $221.70 and its 200-day moving average price is $222.79. The Boeing Company has a 52-week low of $176.77 and a 52-week high of $254.35. The company has a debt-to-equity ratio of 6.77, a quick ratio of 0.33 and a current ratio of 1.14. The company has a market cap of $182.97 billion, a PE ratio of 100.21 and a beta of 1.21.

Boeing (NYSE:BA) last announced its quarterly earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.42). Boeing had a net margin of 2.41% and a negative return on equity of 346.82%. The firm had revenue of $24.56 billion for the quarter, compared to the consensus estimate of $24.26 billion. During the same period last year, the business earned ($1.24) EPS. Boeing’s revenue was up 8.0% on a year-over-year basis. On average, equities research analysts expect that The Boeing Company will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling

In other Boeing news, Director Bradley D. Tilden bought 1,370 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were acquired at an average cost of $218.50 per share, for a total transaction of $299,345.00. Following the purchase, the director owned 1,370 shares in the company, valued at approximately $299,345. This trade represents a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.10% of the company’s stock.

Boeing News Roundup

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: The Pentagon signed framework agreements with Boeing and RTX to increase production of components for SM-3 Block IIA and Block IB interceptor missiles. The seven-year arrangements could provide greater visibility for Boeing’s defense business and support incremental revenue, helping drive the stock higher. Pentagon signs deals with Boeing and RTX
• Positive Sentiment: Boeing is selling Wisk Aero, Insitu and SkyGrid to Archer Aviation in an all-stock transaction that gives Boeing an approximately 20% stake in Archer. Analysts view the deal as a way to exit a struggling, non-core air-taxi operation while retaining exposure to autonomy and electric-aircraft technologies, potentially sharpening Boeing’s turnaround focus. Boeing’s Wisk sale and portfolio strategy
• Positive Sentiment: Avolon agreed to lease up to seven Boeing 737-8200 aircraft to India’s Akasa Air. The transaction supports continued demand for Boeing’s narrow-body aircraft in one of the aviation industry’s fastest-growing markets. Avolon and Akasa Air 737 transaction
• Neutral Sentiment: Odysight.ai received a Boeing purchase order and will demonstrate AI-powered predictive-maintenance technology at two Boeing sites. The initiative could improve future maintenance capabilities and create supplier opportunities, but its immediate financial impact on BA is expected to be limited. Odysight.ai Boeing purchase order
• Neutral Sentiment: JLL is considering Boeing’s former Chicago headquarters for a potential global headquarters move. The move could benefit Boeing through property monetization or reduced real-estate obligations, though no transaction has been finalized. JLL considers Boeing’s former headquarters

About Boeing

Boeing Company (NYSE: BA) is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing’s principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.