Gateway Investment Advisers LLC Boosts Stock Holdings in The Boeing Company (NYSE:BA)

Gateway Investment Advisers LLC grew its stake in shares of The Boeing Company (NYSE:BA) by 0.2% during the first quarter, Holdings Channel reports. The institutional investor owned 177,839 shares of the aircraft producer’s stock after purchasing an additional 279 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Boeing were worth $30,330,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of BA. Amundi increased its stake in Boeing by 473.6% in the 4th quarter. Amundi now owns 1,565,337 shares of the aircraft producer’s stock worth $268,862,000 after purchasing an additional 1,292,417 shares during the period. KKM Financial LLC grew its holdings in shares of Boeing by 50.8% in the fourth quarter. KKM Financial LLC now owns 15,368 shares of the aircraft producer’s stock worth $2,720,000 after purchasing an additional 5,175 shares during the last quarter. Grant Private Wealth Management Inc purchased a new position in shares of Boeing in the fourth quarter worth $903,000. Winslow Asset Management Inc. increased its stake in shares of Boeing by 8.2% in the fourth quarter. Winslow Asset Management Inc. now owns 40,761 shares of the aircraft producer’s stock worth $7,215,000 after buying an additional 3,096 shares during the period. Finally, Advanced Portfolio Management LLC raised its holdings in Boeing by 182.2% during the 4th quarter. Advanced Portfolio Management LLC now owns 15,000 shares of the aircraft producer’s stock valued at $2,655,000 after buying an additional 9,684 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

BA has been the subject of a number of analyst reports. Bank of America upgraded shares of Boeing from a “neutral” rating to a “buy” rating and increased their target price for the stock from $185.00 to $260.00 in a report on Monday, June 2nd. Melius Research set a $204.00 price objective on Boeing in a research report on Monday, March 24th. Cowen restated a “buy” rating on shares of Boeing in a report on Wednesday, May 7th. Wall Street Zen cut shares of Boeing from a “hold” rating to a “sell” rating in a report on Saturday, May 17th. Finally, Wells Fargo & Company reaffirmed an “underweight” rating on shares of Boeing in a research report on Thursday, May 22nd. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $207.85.

Insider Transactions at Boeing

In related news, EVP Jeffrey S. Shockey sold 3,205 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total value of $650,198.35. Following the completion of the sale, the executive vice president now owns 20,513 shares in the company, valued at approximately $4,161,472.31. The trade was a 13.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Christopher Raymond sold 3,899 shares of Boeing stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $187.01, for a total transaction of $729,151.99. Following the transaction, the executive vice president now directly owns 42,513 shares in the company, valued at approximately $7,950,356.13. The trade was a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,744 shares of company stock worth $1,511,370 in the last three months. Corporate insiders own 0.09% of the company’s stock.

Boeing Trading Up 1.0%

Boeing stock opened at $211.03 on Friday. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $215.80. The company has a market capitalization of $159.12 billion, a price-to-earnings ratio of -11.52 and a beta of 1.43. The business’s fifty day simple moving average is $182.59 and its two-hundred day simple moving average is $174.64.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.39) by $0.90. The firm had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.57 billion. During the same quarter in the previous year, the firm earned ($1.13) EPS. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, equities research analysts predict that The Boeing Company will post -2.58 EPS for the current 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.