GAMMA Investing LLC Has $2.06 Million Stake in The Boeing Company $BA

GAMMA Investing LLC boosted its position in shares of The Boeing Company (NYSE:BA) by 68.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,848 shares of the aircraft producer’s stock after acquiring an additional 3,997 shares during the quarter. GAMMA Investing LLC’s holdings in Boeing were worth $2,063,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC bought a new position in shares of Boeing in the second quarter valued at about $378,459,000. Vanguard Group Inc. raised its position in shares of Boeing by 1.9% in the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock valued at $11,197,468,000 after purchasing an additional 1,212,327 shares during the period. Strs Ohio bought a new position in shares of Boeing in the first quarter valued at about $98,984,000. Canada Pension Plan Investment Board raised its position in shares of Boeing by 243.8% in the first quarter. Canada Pension Plan Investment Board now owns 754,550 shares of the aircraft producer’s stock valued at $128,689,000 after purchasing an additional 535,060 shares during the period. Finally, Deutsche Bank AG grew its stake in shares of Boeing by 38.4% in the first quarter. Deutsche Bank AG now owns 1,805,186 shares of the aircraft producer’s stock valued at $307,874,000 after acquiring an additional 501,161 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BA shares. Barclays upped their price target on shares of Boeing from $210.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Royal Bank Of Canada restated an “outperform” rating and issued a $250.00 price target on shares of Boeing in a research note on Wednesday, July 30th. UBS Group set a $280.00 price target on shares of Boeing and gave the company a “buy” rating in a research note on Wednesday, July 30th. Bank of America upped their price target on shares of Boeing from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Finally, Redburn Atlantic upgraded shares of Boeing from a “hold” rating to a “strong-buy” rating and upped their price target for the company from $180.00 to $275.00 in a research note on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Boeing has an average rating of “Moderate Buy” and a consensus target price of $230.77.

Insider Buying and Selling

In related news, Director Mortimer J. Buckley purchased 2,200 shares of Boeing stock in a transaction dated Tuesday, August 19th. The shares were bought at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the purchase, the director owned 2,200 shares in the company, valued at approximately $497,420. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the firm’s stock in a transaction that occurred 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 owned 35,873 shares in the company, valued at approximately $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Boeing Trading Down 1.6%

BA opened at $212.26 on Tuesday. The company’s 50 day moving average is $227.61 and its 200-day moving average is $201.73. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $242.69. The company has a market cap of $160.50 billion, a P/E ratio of -12.86 and a beta of 1.48.

Boeing (NYSE:BA) last posted its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share 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 the consensus estimate of $20.13 billion. During the same quarter in the prior year, the firm posted ($2.90) EPS. The company’s quarterly revenue was up 34.9% compared to the same quarter last year. On average, equities analysts forecast 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.