GAMMA Investing LLC Purchases 3,997 Shares of The Boeing Company $BA

Key Points

• GAMMA Investing LLC increased its holdings in The Boeing Company by 68.3%, acquiring an additional 3,997 shares in the second quarter, bringing their total to 9,848 shares valued at approximately $2,063,000.
• Multiple institutional investors, including National Pension Service and Vestcor Inc, have also raised their stakes in Boeing, indicating heightened interest and confidence in the company's performance.
• Analysts have boosted their ratings and target prices for Boeing, with Vertical Research upgrading the stock from "hold" to "buy" and increasing the target price from $242.00 to $270.00.

GAMMA Investing LLC boosted its position in shares of The Boeing Company (NYSE:BA - Free Report) by 68.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,848 shares of the aircraft producer's stock after purchasing an additional 3,997 shares during the period. GAMMA Investing LLC's holdings in Boeing were worth $2,063,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vestcor Inc lifted its holdings in Boeing by 9.0% during the 1st quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer's stock valued at $2,471,000 after purchasing an additional 1,195 shares during the last quarter. National Pension Service raised its stake in shares of Boeing by 19.6% in the first quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer's stock worth $227,365,000 after acquiring an additional 218,049 shares during the last quarter. Wynn Capital LLC bought a new position in shares of Boeing in the first quarter worth about $584,000. MFG Wealth Management Inc. bought a new position in shares of Boeing in the first quarter worth about $2,125,000. Finally, Kelman Lazarov Inc. bought a new position in shares of Boeing in the first quarter worth about $262,000. 64.82% of the stock is owned by institutional investors.

Insider Activity at Boeing

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

Analyst Ratings Changes

A number of brokerages have weighed in on BA. Vertical Research raised shares of Boeing from a "hold" rating to a "buy" rating and boosted their target price for the stock from $242.00 to $270.00 in a research note on Monday, September 8th. Bank of America boosted their target price on shares of Boeing from $260.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. KGI Securities raised shares of Boeing from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. Redburn Atlantic raised shares of Boeing from a "hold" rating to a "strong-buy" rating and boosted their target price for the stock from $180.00 to $275.00 in a research note on Friday, June 27th. Finally, Jefferies Financial Group boosted their price target on shares of Boeing from $230.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $230.77.

Boeing Stock Performance

Shares of NYSE BA opened at $212.26 on Tuesday. The stock has a market cap of $160.50 billion, a P/E ratio of -12.86 and a beta of 1.48. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69. The firm has a 50 day moving average price of $227.61 and a 200 day moving average price of $201.73.

Boeing (NYSE:BA - Get Free Report) last released 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 the consensus estimate of $20.13 billion. The firm's revenue for the quarter was up 34.9% on a year-over-year basis. During the same period in the previous year, the business earned ($2.90) EPS. Analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal 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.

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