Chase Investment Counsel Corp Invests $1.06 Million in The Boeing Company $BA

Chase Investment Counsel Corp bought a new stake in The Boeing Company (NYSE:BA) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,885 shares of the aircraft producer’s stock, valued at approximately $1,057,000.

Other hedge funds have also bought and sold shares of the company. RW Investment Management LLC acquired a new position in Boeing during the second quarter worth approximately $870,000. N.E.W. Advisory Services LLC bought a new stake in Boeing in the second quarter valued at approximately $231,000. HBK Sorce Advisory LLC acquired a new stake in shares of Boeing in the second quarter valued at approximately $2,233,000. Abbot Financial Management Inc. bought a new position in shares of Boeing during the 2nd quarter worth approximately $691,000. Finally, Peachtree Investment Partners LLC bought a new position in shares of Boeing during the 2nd quarter worth approximately $238,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Key Boeing News

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 research analysts recently weighed in on the company. Robert W. Baird set a $300.00 target price on Boeing in a report on Wednesday, July 29th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Boeing in a report on Tuesday, July 21st. Royal Bank Of Canada reduced their price objective on shares of Boeing from $275.00 to $265.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. BNP Paribas Exane upgraded shares of Boeing from an “underperform” rating to an “outperform” rating and upped their price objective for the company from $230.00 to $300.00 in a report on Monday, August 3rd. Finally, Argus raised 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. One 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $272.58.

Insider Buying and Selling

In other news, Director Bradley D. Tilden acquired 1,370 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of $218.50 per share, with a total value of $299,345.00. Following the acquisition, the director directly owned 1,370 shares in the company, valued at $299,345. This represents a ? increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.10% of the stock is currently owned by corporate insiders.

Boeing Trading Down 0.1%

Shares of NYSE:BA opened at $231.50 on Monday. The Boeing Company has a 12-month low of $176.77 and a 12-month high of $254.35. The business has a 50 day moving average of $221.70 and a 200-day moving average of $222.79. The company has a quick ratio of 0.33, a current ratio of 1.14 and a debt-to-equity ratio of 6.77. The stock 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 earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.42). The firm had revenue of $24.56 billion for the quarter, compared to the consensus estimate of $24.26 billion. Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.Boeing’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the business posted ($1.24) EPS. As a group, equities research analysts forecast that The Boeing Company will post -0.87 earnings per share for the current year.

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.