Chase Investment Counsel Corp Acquires New Holdings in The Boeing Company $BA

Key Points

• Chase Investment Counsel acquired 4,885 Boeing shares worth approximately $1.06 million in the second quarter, while institutional investors and hedge funds collectively own 64.82% of BA.
• Boeing reported a quarterly loss of $0.76 per share, missing estimates by $0.42, although revenue rose 8% year over year to $24.56 billion. The stock recently traded near $231.50, with analysts holding a consensus “Moderate Buy” rating and an average price target of $272.58.
• Recent potential catalysts include expanded Pentagon missile-component agreements, the sale of Boeing’s non-core air-taxi businesses to Archer for an approximately 20% stake, and continued demand for 737 aircraft in India.

Chase Investment Counsel Corp bought a new position in shares of The Boeing Company (NYSE:BA - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,885 shares of the aircraft producer's stock, valued at approximately $1,057,000.

Several other hedge funds have also recently bought and sold shares of the stock. Measured Wealth Private Client Group LLC acquired a new position in shares of Boeing in the third quarter valued at approximately $25,000. Strive Financial Group LLC acquired a new stake in shares of Boeing during the fourth quarter worth $25,000. CrossGen Wealth LLC acquired a new stake in shares of Boeing during the fourth quarter worth $26,000. Ares Financial Consulting LLC bought a new stake in Boeing in the 4th quarter valued at $26,000. Finally, 1 North Wealth Services LLC bought a new stake in Boeing in the 4th quarter valued at $27,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Bradley D. Tilden purchased 1,370 shares of the stock in a transaction on Wednesday, May 20th. The shares were purchased at an average price of $218.50 per share, with a total value of $299,345.00. Following the transaction, the director directly owned 1,370 shares of the company's stock, valued at $299,345. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.10% of the stock is currently owned by corporate insiders.

Boeing Trading Down 0.1%

Boeing stock opened at $231.50 on Monday. The firm has a 50-day moving average of $221.70 and a 200-day moving average of $222.79. The Boeing Company has a one year low of $176.77 and a one year high of $254.35. The company has a debt-to-equity ratio of 6.77, a current ratio of 1.14 and a quick ratio of 0.33. The company has a market cap of $182.97 billion, a price-to-earnings ratio of 100.21 and a beta of 1.21.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $24.56 billion during the quarter, compared to the consensus estimate of $24.26 billion. During the same quarter in the previous year, the business earned ($1.24) EPS. Boeing's revenue was up 8.0% on a year-over-year basis. On average, equities analysts expect that The Boeing Company will post -0.87 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Royal Bank Of Canada lowered their target price on Boeing from $275.00 to $265.00 and set an "outperform" rating for the company in a report on Wednesday, July 29th. Tigress Financial boosted their price target on Boeing from $295.00 to $305.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Wolfe Research lowered Boeing from an "outperform" rating to a "hold" rating in a report on Tuesday, August 11th. BNP Paribas Exane raised Boeing from an "underperform" rating to an "outperform" rating and upped their price objective for the stock from $230.00 to $300.00 in a research report on Monday, August 3rd. Finally, Robert W. Baird set a $300.00 price objective on Boeing in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Boeing presently has a consensus rating of "Moderate Buy" and an average target price of $272.58.

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.

Want to see what other hedge funds are holding BA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Boeing Company (NYSE:BA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source