Gateway Investment Advisers LLC Decreases Position in The Boeing Company $BA

Gateway Investment Advisers LLC cut its stake in The Boeing Company (NYSE:BA) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 177,629 shares of the aircraft producer’s stock after selling 210 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Boeing were worth $37,219,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BA. American National Bank & Trust lifted its stake in Boeing by 474.1% in the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock valued at $26,000 after buying an additional 128 shares in the last quarter. REAP Financial Group LLC lifted its stake in Boeing by 60.2% in the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer’s stock worth $31,000 after purchasing an additional 65 shares in the last quarter. Dogwood Wealth Management LLC lifted its stake in Boeing by 167.2% in the 4th quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer’s stock worth $32,000 after purchasing an additional 112 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in Boeing in the 4th quarter worth approximately $33,000. Finally, Proathlete Wealth Management LLC purchased a new position in Boeing in the 1st quarter worth approximately $34,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BA has been the topic of a number of research reports. Redburn Atlantic raised shares of Boeing from a “hold” rating to a “strong-buy” rating and raised their target price for the stock from $180.00 to $275.00 in a research note on Friday, June 27th. JPMorgan Chase & Co. raised their target price on shares of Boeing from $230.00 to $251.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Susquehanna reissued a “positive” rating and issued a $270.00 target price on shares of Boeing in a research note on Monday. Jefferies Financial Group raised their target price on shares of Boeing from $230.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Finally, The Goldman Sachs Group set a $212.00 target price on shares of Boeing and gave the stock a “buy” rating in a research note on Thursday, June 12th. Three analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $230.77.

Insider Activity

In other news, Director Mortimer J. Buckley purchased 2,200 shares of the business’s stock in a transaction that occurred 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 acquisition, the director directly owned 2,200 shares of the company’s stock, valued at approximately $497,420. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the transaction, the executive vice president directly owned 35,873 shares of the company’s stock, valued at $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Boeing Stock Performance

Shares of NYSE:BA opened at $214.95 on Wednesday. The company has a 50-day simple moving average of $228.64 and a 200-day simple moving average of $199.96. The Boeing Company has a one year low of $128.88 and a one year high of $242.69. The stock has a market capitalization of $162.54 billion, a price-to-earnings ratio of -13.02 and a beta of 1.48.

Boeing (NYSE:BA) last announced 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 firm had revenue of $22.75 billion for the quarter, compared to analyst estimates of $20.13 billion. During the same period last year, the firm earned ($2.90) earnings per share. The business’s revenue was up 34.9% on a year-over-year basis. As a group, research analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

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.