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

by · The Markets Daily

Gateway Investment Advisers LLC lowered its position in shares of The Boeing Company (NYSE:BA – Free Report) by 0.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 178,926 shares of the aircraft producer’s stock after selling 237 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Boeing were worth $27,204,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of BA. Lazari Capital Management Inc. raised its stake in Boeing by 55.7% during the second quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock valued at $4,226,000 after buying an additional 8,309 shares during the last quarter. Sanders Morris Harris LLC grew its position in Boeing by 869.1% during the 1st quarter. Sanders Morris Harris LLC now owns 22,775 shares of the aircraft producer’s stock valued at $4,395,000 after purchasing an additional 20,425 shares during the last quarter. Czech National Bank increased its stake in Boeing by 8.4% during the 3rd quarter. Czech National Bank now owns 119,243 shares of the aircraft producer’s stock valued at $18,130,000 after purchasing an additional 9,281 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of Boeing by 20.7% during the first quarter. Park Avenue Securities LLC now owns 10,543 shares of the aircraft producer’s stock valued at $2,035,000 after acquiring an additional 1,805 shares in the last quarter. Finally, BSN CAPITAL PARTNERS Ltd bought a new stake in shares of Boeing during the third quarter valued at approximately $11,237,000. Institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

BA stock traded up $4.40 during mid-day trading on Friday, reaching $151.02. 10,688,553 shares of the stock traded hands, compared to its average volume of 8,051,483. The business has a 50-day moving average price of $162.41 and a two-hundred day moving average price of $173.94. The stock has a market capitalization of $93.05 billion, a PE ratio of -26.83 and a beta of 1.57. The Boeing Company has a one year low of $146.26 and a one year high of $267.54.

Boeing (NYSE:BA – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The company had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same quarter in the prior year, the business earned ($0.82) earnings per share. Boeing’s revenue for the quarter was down 14.6% compared to the same quarter last year. On average, equities analysts expect that The Boeing Company will post -5.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Stifel Nicolaus increased their target price on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. TD Cowen lowered their price objective on shares of Boeing from $230.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Susquehanna reissued a “positive” rating and issued a $230.00 target price on shares of Boeing in a report on Wednesday, August 14th. Finally, Sanford C. Bernstein reduced their price target on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $206.00.

Get Our Latest Stock Analysis on Boeing

About Boeing

(Free Report)

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.

See Also

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