GAMMA Investing LLC Takes $670,000 Position in The Boeing Company (NYSE:BA)

GAMMA Investing LLC acquired a new stake in shares of The Boeing Company (NYSE:BA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,572 shares of the aircraft producer’s stock, valued at approximately $670,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CNB Bank grew its holdings in Boeing by 106.5% in the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after purchasing an additional 66 shares during the period. Naples Money Management LLC bought a new position in shares of Boeing in the fourth quarter worth approximately $44,000. M&R Capital Management Inc. lifted its stake in shares of Boeing by 35.0% in the fourth quarter. M&R Capital Management Inc. now owns 193 shares of the aircraft producer’s stock worth $50,000 after buying an additional 50 shares in the last quarter. Keener Financial Planning LLC bought a new position in shares of Boeing in the fourth quarter worth approximately $52,000. Finally, Park Place Capital Corp lifted its stake in shares of Boeing by 185.1% in the third quarter. Park Place Capital Corp now owns 211 shares of the aircraft producer’s stock worth $40,000 after buying an additional 137 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Price Performance

NYSE:BA traded down $1.82 during trading hours on Wednesday, hitting $167.36. 12,188,734 shares of the company were exchanged, compared to its average volume of 9,638,692. The stock has a market capitalization of $102.11 billion, a price-to-earnings ratio of -45.36, a PEG ratio of 135.00 and a beta of 1.52. The Boeing Company has a 52-week low of $166.26 and a 52-week high of $267.54. The company’s 50 day moving average price is $188.81 and its 200-day moving average price is $207.19.

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BA shares. Morgan Stanley lowered their price objective on shares of Boeing from $235.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 10th. JPMorgan Chase & Co. decreased their price target on shares of Boeing from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Benchmark reiterated a “buy” rating and issued a $250.00 price target on shares of Boeing in a research report on Tuesday, March 26th. Bank of America decreased their price target on shares of Boeing from $210.00 to $190.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. Finally, Stifel Nicolaus decreased their price target on shares of Boeing from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $226.71.

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.