Hardy Reed Swoops In with $1.78M Boeing Investment
The Boeing Company (NYSE:BA) has received significant investment from several institutional investors in recent quarters. According to its latest Form 13F filing, Hardy Reed LLC purchased a new stake in shares of The Boeing Company worth approximately $1.78 million. This represents 8,235 shares valued at $1.783 million.
This is not an isolated instance; other hedge funds and institutional investors have also made changes to their positions in the company. Vanguard Group Inc., for example, raised its stake by 5.1% in the fourth quarter, owning 70,989,438 shares worth around $15.413 billion. Similar increases were seen from Newport Trust Company LLC (1%), Geode Capital Management LLC (3.2%), Fisher Asset Management LLC (2.5%), and Charles Schwab Investment Management Inc. (3.3%). These investors now collectively own about 64.82% of the company's stock.
The investment in Boeing comes as the company continues to navigate challenges, including a recent earnings report that missed analysts' expectations. However, positive sentiment has been building around Boeing due to several factors, such as its defense business and partnerships with companies like RTX. Additionally, Boeing is exiting some non-core operations by selling Wisk Aero, Insitu, and SkyGrid to Archer Aviation in an all-stock deal.