GAMMA Investing LLC Acquires Shares of 2,572 The Boeing Company (NYSE:BA)

GAMMA Investing LLC bought a new stake in shares of The Boeing Company (NYSE:BA) in the 4th quarter, HoldingsChannel.com reports. The firm bought 2,572 shares of the aircraft producer’s stock, valued at approximately $670,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. DAVENPORT & Co LLC lifted its stake in Boeing by 2.2% during the third quarter. DAVENPORT & Co LLC now owns 24,850 shares of the aircraft producer’s stock worth $4,763,000 after purchasing an additional 545 shares during the last quarter. Park Place Capital Corp lifted its stake in Boeing by 185.1% during the third quarter. Park Place Capital Corp now owns 211 shares of the aircraft producer’s stock worth $40,000 after purchasing an additional 137 shares during the last quarter. GHP Investment Advisors Inc. lifted its stake in Boeing by 81.0% during the third quarter. GHP Investment Advisors Inc. now owns 1,788 shares of the aircraft producer’s stock worth $331,000 after purchasing an additional 800 shares during the last quarter. B.O.S.S. Retirement Advisors LLC lifted its stake in Boeing by 26.7% during the third quarter. B.O.S.S. Retirement Advisors LLC now owns 1,498 shares of the aircraft producer’s stock worth $287,000 after purchasing an additional 316 shares during the last quarter. Finally, Strategic Blueprint LLC lifted its stake in Boeing by 24.4% during the third quarter. Strategic Blueprint LLC now owns 3,031 shares of the aircraft producer’s stock worth $581,000 after purchasing an additional 595 shares during the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BA has been the topic of several research analyst reports. TD Cowen reduced their price objective on Boeing from $275.00 to $230.00 and set an “outperform” rating on the stock in a research note on Monday, March 25th. The Goldman Sachs Group dropped their target price on Boeing from $268.00 to $257.00 and set a “buy” rating on the stock in a research report on Monday, March 25th. Sanford C. Bernstein dropped their target price on Boeing from $272.00 to $240.00 and set an “outperform” rating on the stock in a research report on Monday, April 8th. Melius reaffirmed a “hold” rating on shares of Boeing in a research report on Monday, April 1st. Finally, Northcoast Research lowered Boeing from a “neutral” rating to a “sell” rating and set a $140.00 target price on the stock. in a research report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $226.71.

Boeing Trading Down 1.1 %

NYSE:BA traded down $1.82 during mid-day trading on Wednesday, reaching $167.36. 12,188,734 shares of the stock were exchanged, compared to its average volume of 9,638,692. The business has a fifty day moving average price of $188.81 and a 200 day moving average price of $207.19. The firm has a market capitalization of $102.11 billion, a PE ratio of -45.36, a PEG ratio of 135.00 and a beta of 1.52. The Boeing Company has a 1-year low of $166.26 and a 1-year high of $267.54.

Boeing (NYSE:BA) last released its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.25. The firm had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. Boeing’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.75) earnings per share. On average, sell-side analysts forecast that The Boeing Company will post 0.32 earnings per share for the current year.

About Boeing

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.