Gamco Investors INC. ET AL Reduces Stock Position in The Boeing Company (NYSE:BA)

Gamco Investors INC. ET AL lessened its holdings in shares of The Boeing Company (NYSE:BA) by 1.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 116,254 shares of the aircraft producer’s stock after selling 1,494 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Boeing were worth $22,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of BA. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Boeing during the 4th quarter worth $26,000. Evolution Advisers Inc. bought a new stake in shares of Boeing during the 4th quarter valued at $28,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Boeing during the 4th quarter valued at $28,000. Vima LLC bought a new stake in shares of Boeing during the 4th quarter valued at $34,000. Finally, McClarren Financial Advisors Inc. raised its position in shares of Boeing by 451.4% during the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after purchasing an additional 158 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Up 1.4 %

Shares of BA stock traded up $2.54 during trading hours on Friday, reaching $186.89. 6,271,995 shares of the stock were exchanged, compared to its average volume of 5,267,864. The Boeing Company has a 12-month low of $159.70 and a 12-month high of $267.54. The company’s 50-day moving average price is $181.74 and its 200-day moving average price is $188.76. The firm has a market capitalization of $114.73 billion, a price-to-earnings ratio of -52.64 and a beta of 1.56.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) EPS for the quarter, topping analysts’ consensus estimates of ($1.43) by $0.30. The firm had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $17.69 billion. On average, sell-side analysts expect that The Boeing Company will post -2.27 EPS for the current year.

Analysts Set New Price Targets

BA has been the topic of several recent analyst reports. Morgan Stanley decreased 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. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $225.00 price objective on shares of Boeing in a research report on Tuesday, June 25th. Argus downgraded shares of Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Susquehanna restated a “positive” rating and set a $230.00 price objective on shares of Boeing in a research report on Wednesday, May 15th. Finally, Robert W. Baird reduced their price target on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, June 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and a consensus target price of $220.89.

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.