Gamco Investors INC. ET AL Reduces Holdings in Boeing Co (BA)

Gamco Investors INC. ET AL cut its holdings in Boeing Co (NYSE:BA) by 6.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 83,041 shares of the aircraft producer’s stock after selling 5,285 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Boeing were worth $27,861,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Argent Trust Co raised its position in Boeing by 5.1% during the fourth quarter. Argent Trust Co now owns 5,625 shares of the aircraft producer’s stock valued at $1,659,000 after purchasing an additional 271 shares in the last quarter. Aspiriant LLC purchased a new stake in Boeing during the first quarter valued at about $900,000. Stellar Capital Management LLC purchased a new stake in Boeing during the first quarter valued at about $566,000. Rossmore Private Capital raised its position in Boeing by 21.1% during the first quarter. Rossmore Private Capital now owns 2,587 shares of the aircraft producer’s stock valued at $848,000 after purchasing an additional 450 shares in the last quarter. Finally, Picton Mahoney Asset Management purchased a new stake in Boeing during the first quarter valued at about $4,460,000. Hedge funds and other institutional investors own 69.71% of the company’s stock.

Several research firms have recently commented on BA. Cowen reiterated a “buy” rating and issued a $430.00 price objective on shares of Boeing in a report on Wednesday, July 25th. UBS Group lifted their price objective on Boeing from $325.00 to $357.00 and gave the stock a “neutral” rating in a report on Thursday, July 26th. Berenberg Bank reiterated a “buy” rating and issued a $430.00 price objective on shares of Boeing in a report on Monday, September 3rd. Credit Suisse Group reiterated a “buy” rating and issued a $455.00 price objective on shares of Boeing in a report on Thursday, July 26th. Finally, Goldman Sachs Group set a $375.00 price objective on Boeing and gave the stock a “neutral” rating in a report on Wednesday, July 25th. Six analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $401.25.

Shares of NYSE:BA opened at $360.11 on Friday. Boeing Co has a 1 year low of $254.50 and a 1 year high of $394.28. The stock has a market cap of $213.66 billion, a P/E ratio of 29.91, a price-to-earnings-growth ratio of 1.85 and a beta of 1.39. The company has a current ratio of 1.11, a quick ratio of 0.32 and a debt-to-equity ratio of -7.65.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, July 25th. The aircraft producer reported $3.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.12). Boeing had a net margin of 9.92% and a return on equity of 2,344.87%. The business had revenue of $24.26 billion for the quarter, compared to analysts’ expectations of $24.02 billion. During the same quarter in the prior year, the firm earned $2.55 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, analysts expect that Boeing Co will post 14.6 earnings per share for the current fiscal year.

About Boeing

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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