Old West Investment Management LLC Invests $15.04 Million in The Boeing Company $BA

Old West Investment Management LLC bought a new stake in The Boeing Company (NYSE:BA) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 69,454 shares of the aircraft producer’s stock, valued at approximately $15,035,000. Boeing comprises approximately 1.6% of Old West Investment Management LLC’s portfolio, making the stock its 22nd largest position.

Several other institutional investors also recently bought and sold shares of BA. Revolve Wealth Partners LLC purchased a new position in Boeing in the 4th quarter worth approximately $201,000. Sivia Capital Partners LLC boosted its stake in shares of Boeing by 16.5% during the second quarter. Sivia Capital Partners LLC now owns 1,529 shares of the aircraft producer’s stock valued at $320,000 after purchasing an additional 217 shares during the period. AXA S.A. boosted its stake in shares of Boeing by 1,225.7% during the second quarter. AXA S.A. now owns 34,655 shares of the aircraft producer’s stock valued at $7,261,000 after purchasing an additional 32,041 shares during the period. Ieq Capital LLC grew its holdings in shares of Boeing by 243.8% in the second quarter. Ieq Capital LLC now owns 33,485 shares of the aircraft producer’s stock worth $7,016,000 after purchasing an additional 23,746 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Boeing by 4.2% in the second quarter. Alliancebernstein L.P. now owns 1,334,451 shares of the aircraft producer’s stock worth $279,608,000 after purchasing an additional 53,736 shares during the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Boeing

In related news, Director Bradley D. Tilden acquired 1,370 shares of the stock in a transaction on Wednesday, May 20th. The stock was acquired at an average cost of $218.50 per share, for a total transaction of $299,345.00. Following the completion of the acquisition, the director directly owned 1,370 shares of the company’s stock, valued at approximately $299,345. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

BA has been the subject of a number of recent analyst reports. Robert W. Baird set a $300.00 price target on shares of Boeing in a report on Wednesday, July 29th. Argus upgraded shares of Boeing from a “hold” rating to a “buy” rating and set a $265.00 price objective on the stock in a research report on Tuesday, August 11th. JPMorgan Chase & Co. increased their target price on shares of Boeing from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Sanford C. Bernstein began coverage on Boeing in a report on Tuesday, August 11th. They set an “outperform” rating on the stock. Finally, UBS Group initiated coverage on Boeing in a research report on Tuesday, August 11th. They set a “buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $272.58.

Key Stories Impacting Boeing

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

Boeing Stock Down 0.1%

Shares of Boeing stock opened at $231.50 on Monday. The company has a current ratio of 1.14, a quick ratio of 0.33 and a debt-to-equity ratio of 6.77. The Boeing Company has a 12-month low of $176.77 and a 12-month high of $254.35. The company has a market cap of $182.97 billion, a P/E ratio of 100.21 and a beta of 1.21. The company’s fifty day simple moving average is $221.70 and its two-hundred day simple moving average is $222.79.

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

Boeing Company Profile

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.