The Boeing Company $BA Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC reduced its stake in shares of The Boeing Company (NYSE:BA) by 0.1% during the 2nd quarter, HoldingsChannel reports. 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.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American National Bank & Trust grew its position in Boeing by 474.1% during the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock worth $26,000 after buying an additional 128 shares during the period. REAP Financial Group LLC grew its position in Boeing by 60.2% during the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer’s stock worth $31,000 after buying an additional 65 shares during the period. Dogwood Wealth Management LLC grew its position in Boeing by 167.2% during the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer’s stock worth $32,000 after buying an additional 112 shares during the period. Heck Capital Advisors LLC acquired a new position in Boeing during the fourth quarter worth about $33,000. Finally, Proathlete Wealth Management LLC acquired a new position in Boeing during the first quarter worth about $34,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on BA. Vertical Research upgraded shares of Boeing from a “hold” rating to a “buy” rating and increased their price target for the company from $242.00 to $270.00 in a research report on Monday, September 8th. The Goldman Sachs Group set a $212.00 price target on shares of Boeing and gave the company a “buy” rating in a research report on Thursday, June 12th. KGI Securities upgraded shares of Boeing from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 24th. Redburn Atlantic upgraded shares of Boeing from a “hold” rating to a “strong-buy” rating and increased their price target for the company from $180.00 to $275.00 in a research report on Friday, June 27th. Finally, Barclays increased their price target on shares of Boeing from $210.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $230.77.

Insiders Place Their Bets

In related news, EVP David Christopher Raymond sold 3,771 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of the sale, the executive vice president directly owned 35,873 shares of the company’s stock, valued at approximately $8,248,637.62. This trade represents a 9.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mortimer J. Buckley purchased 2,200 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were 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 owned 2,200 shares in the company, valued at approximately $497,420. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by company insiders.

Boeing Trading Down 0.4%

Shares of BA stock opened at $214.95 on Wednesday. The company’s fifty day simple moving average is $228.64 and its 200-day simple moving average is $199.96. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69. The company has a market cap of $162.54 billion, a PE ratio of -13.02 and a beta of 1.48.

Boeing (NYSE:BA) last issued 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 quarter in the previous year, the company posted ($2.90) earnings per share. The company’s revenue for the quarter was up 34.9% on a year-over-year basis. Equities research analysts expect that The Boeing Company will post -2.58 EPS for the current fiscal year.

Boeing 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.