Gateway Wealth Partners LLC Acquires 2,710 Shares of The Boeing Company (NYSE:BA)

Gateway Wealth Partners LLC grew its holdings in shares of The Boeing Company (NYSE:BA) by 151.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,495 shares of the aircraft producer’s stock after buying an additional 2,710 shares during the quarter. Gateway Wealth Partners LLC’s holdings in Boeing were worth $818,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Boeing during the 4th quarter worth about $26,000. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Boeing during the 2nd quarter worth about $33,000. Vima LLC acquired a new position in Boeing in the 4th quarter valued at about $34,000. Hobbs Group Advisors LLC acquired a new position in Boeing in the 2nd quarter valued at about $34,000. Finally, McClarren Financial Advisors Inc. grew its stake in Boeing by 451.4% in the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after buying an additional 158 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BA has been the topic of a number of research reports. Bank of America upped their price target on shares of Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, June 13th. Susquehanna reiterated a “positive” rating and issued a $230.00 price target on shares of Boeing in a research note on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $225.00 target price on shares of Boeing in a research report on Tuesday, June 25th. UBS Group cut their price target on shares of Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a report on Friday, June 7th. Finally, Robert W. Baird cut their price target on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, June 3rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $209.83.

Boeing Stock Performance

Shares of NYSE BA opened at $156.32 on Monday. The Boeing Company has a 52-week low of $151.65 and a 52-week high of $267.54. The firm has a 50 day moving average price of $168.52 and a two-hundred day moving average price of $176.10. The stock has a market cap of $95.96 billion, a P/E ratio of -44.03 and a beta of 1.57.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. During the same period in the prior year, the business posted ($0.82) EPS. The business’s revenue for the quarter was down 14.6% on a year-over-year basis. Analysts predict that The Boeing Company will post -4.27 earnings per share for the current fiscal year.

About Boeing

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.