Gateway Investment Advisers LLC Reduces Stock Holdings in The Boeing Company $BA

Gateway Investment Advisers LLC cut its holdings in The Boeing Company (NYSE:BA) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,379 shares of the aircraft producer’s stock after selling 2,250 shares during the period. Gateway Investment Advisers LLC’s holdings in Boeing were worth $37,852,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Harbor Asset Planning Inc. purchased a new stake in shares of Boeing in the second quarter valued at about $25,000. Piscataqua Savings Bank increased its stake in shares of Boeing by 1,712.5% during the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock worth $30,000 after purchasing an additional 137 shares in the last quarter. Davis Capital Management acquired a new position in shares of Boeing during the 3rd quarter worth approximately $33,000. Howard Hughes Medical Institute acquired a new position in shares of Boeing during the 2nd quarter worth approximately $34,000. Finally, Decker Retirement Planning Inc. purchased a new stake in Boeing in the 2nd quarter valued at approximately $35,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Price Performance

BA opened at $227.27 on Friday. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69. The business has a 50-day moving average of $202.26 and a two-hundred day moving average of $214.80. The stock has a market capitalization of $172.74 billion, a price-to-earnings ratio of -16.61, a price-to-earnings-growth ratio of 6.56 and a beta of 1.16.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The business had revenue of $23.27 billion during the quarter, compared to analysts’ expectations of $21.61 billion. During the same period in the previous year, the business posted ($10.44) earnings per share. The company’s revenue for the quarter was up 30.4% compared to the same quarter last year. Equities research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BA shares. Jefferies Financial Group set a $255.00 price target on Boeing in a research report on Tuesday, September 30th. BNP Paribas Exane assumed coverage on Boeing in a research note on Tuesday, November 18th. They set an “underperform” rating and a $150.00 price objective on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of Boeing in a research note on Tuesday, December 9th. Sanford C. Bernstein restated an “outperform” rating and issued a $267.00 target price on shares of Boeing in a report on Friday, November 14th. Finally, Vertical Research raised shares of Boeing from a “hold” rating to a “buy” rating and raised their price target for the stock from $242.00 to $270.00 in a research note on Monday, September 8th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $234.92.

Insider Activity at Boeing

In related news, EVP Uma M. Amuluru sold 1,366 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $197.66, for a total transaction of $270,003.56. Following the completion of the sale, the executive vice president directly owned 14,656 shares of the company’s stock, valued at approximately $2,896,904.96. This trade represents a 8.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Dana S. Deasy bought 554 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were acquired at an average cost of $178.88 per share, for a total transaction of $99,099.52. Following the completion of the transaction, the senior vice president owned 28,442 shares of the company’s stock, valued at approximately $5,087,704.96. The trade was a 1.99% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.09% of the stock is owned by company insiders.

Boeing Company Profile

Boeing Company (NYSE: BA) is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing’s principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.