Engineers Gate Manager LP Boosts Stake in Boeing

Engineers Gate Manager LP increased its stake in The Boeing Company by 71% during the second quarter, making it the aircraft producer's ninth-largest position. According to an SEC filing, Engineers Gate Manager LP now owns 281,264 shares of Boeing stock, valued at $60,885,000.

The firm's holdings in Boeing make up about 0.8% of its investment portfolio. Princeton Capital Management LLC also increased its stake in Boeing by 78.3% during the fourth quarter and now owns 12,249 shares worth $2,660,000. Rakuten Investment Management Inc. grew its position in Boeing by 502.3% in the same quarter.

Boeing's stock has been affected by recent events, including an $880 million U.S. Navy contract and a fatal Miami cargo-plane crash involving a 1994-built Boeing 767 converted to a freighter. Despite these incidents, several research firms have issued positive reports on Boeing, with analysts expecting the company to turn its free cash flow positive.