Valueworks LLC Acquires Significant Stake in The Boeing Company
The Boeing Company (NYSE:BA) has seen significant changes in its ownership structure. Valueworks LLC, an investment firm, acquired a new position in The Boeing Company during the second quarter. According to their most recent Form 13F filing with the Securities and Exchange Commission (SEC), Valueworks LLC purchased 66,038 shares of Boeing's stock, valued at approximately $14,295,000.
This acquisition represents about 3.0% of Valueworks LLC's investment portfolio, making The Boeing Company its 13th largest position. Several other large investors have also made changes to their positions in BA recently. Princeton Capital Management LLC boosted its stake in Boeing by 78.3% in the fourth quarter and now owns 12,249 shares valued at $2,660,000.
Rakuten Investment Management Inc. raised its position in shares of Boeing by 502.3% during the same period and now owns 103,099 shares valued at $22,398,000. Other investors such as Louisiana State Employees Retirement System and Patriot Financial Group Insurance Agency LLC also increased their stakes in The Boeing Company.
Boeing's recent performance has been a topic of interest among investors. In its last earnings report, the company reported a loss of $0.76 per share for the quarter, missing the consensus estimate by $0.42. Despite this, analysts remain optimistic about the company's future prospects and have set an average target price of $272.58.