Old West Investment Management LLC Takes Position in The Boeing Company $BA

Key Points

• Old West Investment Management LLC acquired 1,578 shares of Boeing during the 1st quarter, valued at approximately $269,000.
• Boeing's recent earnings report showed a revenue increase of 34.9% year-over-year, despite reporting a loss of ($1.24) EPS for the quarter, which missed analysts' expectations.
• Several hedge funds have increased their holdings in Boeing, with institutional investors now holding 64.82% of the stock.

Old West Investment Management LLC purchased a new position in shares of The Boeing Company (NYSE:BA - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,578 shares of the aircraft producer's stock, valued at approximately $269,000.

Several other hedge funds have also recently modified their holdings of BA. American National Bank & Trust raised its position in shares of Boeing by 474.1% during the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock worth $26,000 after purchasing an additional 128 shares during the last quarter. REAP Financial Group LLC boosted its position in Boeing by 60.2% during the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock worth $31,000 after acquiring an additional 65 shares during the last quarter. Dogwood Wealth Management LLC boosted its position in Boeing by 167.2% during the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock worth $32,000 after acquiring an additional 112 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in Boeing during the fourth quarter worth about $33,000. Finally, Proathlete Wealth Management LLC acquired a new position in Boeing during the first quarter worth about $34,000. Institutional investors and hedge funds own 64.82% of the company's stock.

Boeing Price Performance

NYSE BA opened at $229.7750 on Monday. The firm's 50-day moving average is $221.17 and its two-hundred day moving average is $194.40. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69. The stock has a market capitalization of $173.75 billion, a P/E ratio of -13.92 and a beta of 1.48.

Boeing (NYSE:BA - Get Free Report) last posted its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The business had revenue of $22.75 billion for the quarter, compared to the consensus estimate of $20.13 billion. Boeing's revenue was up 34.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($2.90) earnings per share. As a group, analysts anticipate that The Boeing Company will post -2.58 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on BA. Citigroup restated a "buy" rating on shares of Boeing in a research report on Monday, July 28th. Morgan Stanley restated an "equal weight" rating on shares of Boeing in a research report on Monday, July 28th. KGI Securities upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Sanford C. Bernstein restated an "outperform" rating on shares of Boeing in a report on Monday, July 14th. Finally, Redburn Atlantic upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating and raised their price target for the stock from $180.00 to $275.00 in a report on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $228.90.

Insider Activity

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the completion of the transaction, the executive vice president directly owned 35,873 shares of the company's stock, valued at $8,248,637.62. The trade was a 9.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mortimer J. Buckley bought 2,200 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was purchased at an average cost of $226.10 per share, with a total value of $497,420.00. Following the completion of the transaction, the director owned 2,200 shares in the company, valued at $497,420. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.09% of the company's stock.

Boeing Company Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.

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