Gateway Investment Advisers LLC Cuts Position in The Boeing Company (NYSE:BA)

Gateway Investment Advisers LLC reduced its stake in shares of The Boeing Company (NYSE:BA) by 0.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 177,560 shares of the aircraft producer’s stock after selling 1,366 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Boeing were worth $31,428,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in BA. IMS Capital Management increased its stake in Boeing by 0.4% during the 2nd quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock worth $2,759,000 after buying an additional 62 shares during the period. Sterneck Capital Management LLC increased its position in shares of Boeing by 2.3% during the fourth quarter. Sterneck Capital Management LLC now owns 2,992 shares of the aircraft producer’s stock worth $530,000 after acquiring an additional 66 shares during the period. Peoples Financial Services CORP. raised its stake in shares of Boeing by 0.8% in the third quarter. Peoples Financial Services CORP. now owns 8,893 shares of the aircraft producer’s stock valued at $1,352,000 after acquiring an additional 67 shares in the last quarter. GSG Advisors LLC boosted its holdings in Boeing by 4.7% in the fourth quarter. GSG Advisors LLC now owns 1,490 shares of the aircraft producer’s stock valued at $264,000 after purchasing an additional 67 shares during the period. Finally, Altus Wealth Group LLC grew its stake in Boeing by 5.7% during the 3rd quarter. Altus Wealth Group LLC now owns 1,325 shares of the aircraft producer’s stock worth $201,000 after purchasing an additional 71 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on BA. TD Cowen decreased their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Boeing in a report on Wednesday, October 30th. Morgan Stanley dropped their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Sanford C. Bernstein cut Boeing from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $195.00 to $169.00 in a research note on Wednesday, October 30th. Finally, Susquehanna dropped their price target on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Boeing has a consensus rating of “Moderate Buy” and a consensus target price of $192.21.

Boeing Stock Up 1.6 %

NYSE BA opened at $168.91 on Friday. The business’s 50-day moving average price is $162.40 and its 200 day moving average price is $164.98. The Boeing Company has a 52-week low of $137.03 and a 52-week high of $217.59. The firm has a market cap of $104.42 billion, a P/E ratio of -13.09 and a beta of 1.52.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. Boeing’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the company posted ($3.26) earnings per share. As a group, analysts anticipate that The Boeing Company will post -16.43 earnings per share for the current 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.