Blue Edge Capital Buys $4.6M Stake in Boeing Amid Defense Contract Wins
Blue Edge Capital LLC recently acquired 21,250 shares of The Boeing Company's stock in the second quarter, according to its Form 13F filing with the Securities and Exchange Commission. This new stake is valued at approximately $4.6 million.
The acquisition is not an isolated incident, as other institutional investors and hedge funds have also been buying and selling shares of the company. In fact, institutional investors and hedge funds own 64.82% of Boeing's stock.
Boeing has been a subject of interest among analysts in recent weeks. Citigroup downgraded its rating from 'buy' to 'sell', while JPMorgan Chase & Co. increased its price objective on shares of Boeing from $270.00 to $290.00 and gave the stock an 'overweight' rating.
The company's defense business has been a major contributor to its revenue growth, with a recent contract worth up to $131.23 billion through 2037. However, some analysts have questioned whether this figure could translate into meaningful near-term cash flow.