Gallagher Capital Advisors LLC Takes $2.63 Million Position in The Boeing Company $BA

Key Points

• Gallagher Capital Advisors LLC has taken a new position in The Boeing Company, purchasing 12,553 shares valued at approximately $2.63 million, which represents about 2.1% of their total holdings.
• Wall Street analysts have a positive outlook for Boeing, with several firms raising their price targets, including Sanford C. Bernstein raising their target from $249 to $282.
• Boeing's recent earnings report showed a revenue increase of 34.9% year-over-year, although it reported a loss of ($1.24) earnings per share, missing estimates.

Gallagher Capital Advisors LLC purchased a new stake in shares of The Boeing Company (NYSE:BA - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,553 shares of the aircraft producer's stock, valued at approximately $2,630,000. Boeing comprises approximately 2.1% of Gallagher Capital Advisors LLC's holdings, making the stock its 19th largest position.

A number of other large investors have also added to or reduced their stakes in the company. Revolve Wealth Partners LLC bought a new position in shares of Boeing in the 4th quarter valued at about $201,000. GAMMA Investing LLC lifted its stake in shares of Boeing by 13.9% in the 1st quarter. GAMMA Investing LLC now owns 5,851 shares of the aircraft producer's stock valued at $998,000 after purchasing an additional 716 shares during the last quarter. Legacy Advisors LLC boosted its holdings in shares of Boeing by 9.0% in the 1st quarter. Legacy Advisors LLC now owns 5,147 shares of the aircraft producer's stock worth $878,000 after purchasing an additional 426 shares during the period. Consolidated Portfolio Review Corp increased its position in shares of Boeing by 8.0% during the 1st quarter. Consolidated Portfolio Review Corp now owns 1,451 shares of the aircraft producer's stock valued at $247,000 after purchasing an additional 107 shares during the last quarter. Finally, Field & Main Bank raised its holdings in Boeing by 21.0% during the 1st quarter. Field & Main Bank now owns 1,210 shares of the aircraft producer's stock valued at $206,000 after buying an additional 210 shares during the period. Institutional investors own 64.82% of the company's stock.

Wall Street Analysts Forecast Growth

BA has been the topic of several recent analyst reports. Sanford C. Bernstein increased their target price on shares of Boeing from $249.00 to $282.00 and gave the company an "outperform" rating in a research note on Thursday, October 2nd. Vertical Research upgraded Boeing from a "hold" rating to a "buy" rating and increased their target price for the stock from $242.00 to $270.00 in a research note on Monday, September 8th. Redburn Atlantic upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating and upped their price target for the stock from $180.00 to $275.00 in a report on Friday, June 27th. Barclays raised their price target on shares of Boeing from $210.00 to $255.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Finally, JPMorgan Chase & Co. upped their target price on shares of Boeing from $230.00 to $251.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $240.20.

Insider Buying and Selling at Boeing

In other news, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction on Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the transaction, the executive vice president directly owned 35,873 shares in the company, valued at approximately $8,248,637.62. This trade represents a 9.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mortimer J. Buckley acquired 2,200 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average price of $226.10 per share, with a total value of $497,420.00. Following the completion of the purchase, the director directly owned 2,200 shares in the company, valued at $497,420. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by company insiders.

Boeing Price Performance

Shares of Boeing stock opened at $217.72 on Thursday. The stock has a market cap of $164.63 billion, a price-to-earnings ratio of -13.13 and a beta of 1.47. The firm's 50-day moving average is $222.28 and its two-hundred day moving average is $208.91. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The firm had revenue of $22.75 billion for the quarter, compared to analysts' expectations of $20.13 billion. The business's revenue for the quarter was up 34.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.90) earnings per share. On average, equities analysts expect that The Boeing Company will post -2.58 earnings per share 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.

Want to see what other hedge funds are holding BA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Boeing Company (NYSE:BA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.