Gabelli Funds LLC Has $20.78 Million Stake in The Boeing Company (NYSE:BA)

Gabelli Funds LLC increased its stake in shares of The Boeing Company (NYSE:BA) by 0.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 114,150 shares of the aircraft producer’s stock after purchasing an additional 450 shares during the quarter. Gabelli Funds LLC’s holdings in Boeing were worth $20,776,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Frank Rimerman Advisors LLC increased its position in Boeing by 1,401.6% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 2,778 shares of the aircraft producer’s stock worth $506,000 after purchasing an additional 2,593 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Boeing by 14.8% in the 2nd quarter. ProShare Advisors LLC now owns 194,177 shares of the aircraft producer’s stock valued at $35,342,000 after buying an additional 25,058 shares in the last quarter. Kowal Investment Group LLC acquired a new position in Boeing in the second quarter worth approximately $307,000. Hancock Whitney Corp raised its position in Boeing by 1.0% during the second quarter. Hancock Whitney Corp now owns 7,582 shares of the aircraft producer’s stock valued at $1,380,000 after acquiring an additional 72 shares in the last quarter. Finally, Merriman Wealth Management LLC lifted its stake in Boeing by 27.0% in the second quarter. Merriman Wealth Management LLC now owns 3,445 shares of the aircraft producer’s stock valued at $627,000 after acquiring an additional 732 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BA shares. Bank of America increased their price target on shares of Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, June 13th. Sanford C. Bernstein dropped their price target on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Baird R W raised Boeing to a “strong-buy” rating in a research report on Monday, June 3rd. Stifel Nicolaus increased their price target on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, UBS Group decreased their price objective on Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, June 7th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $211.29.

Boeing Price Performance

BA stock opened at $153.29 on Monday. The business has a fifty day moving average price of $171.21 and a 200 day moving average price of $177.41. The Boeing Company has a fifty-two week low of $152.60 and a fifty-two week high of $267.54. The stock has a market capitalization of $94.10 billion, a price-to-earnings ratio of -43.18 and a beta of 1.57.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The firm had revenue of $16.87 billion during the quarter, compared to the consensus estimate of $17.35 billion. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.82) EPS. On average, equities analysts expect that The Boeing Company will post -4.26 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.