Meyer Handelman Co. Lowers Position in The Boeing Company $BA

Key Points

• Meyer Handelman Co. reduced its position in Boeing by 5.2%, now holding 42,206 shares valued at approximately $8.84 million.
• Several institutional investors increased their holdings in Boeing, with Piscataqua Savings Bank raising theirs by an astonishing 1,712.5% this quarter.
• Boeing's price target among analysts ranges widely, with Royal Bank of Canada setting it at $250 while UBS Group targets $280, indicating a general optimism about the company's performance.

Meyer Handelman Co. trimmed its position in shares of The Boeing Company (NYSE:BA - Free Report) by 5.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,206 shares of the aircraft producer's stock after selling 2,325 shares during the period. Meyer Handelman Co.'s holdings in Boeing were worth $8,843,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Piscataqua Savings Bank raised its holdings in shares of Boeing by 1,712.5% during the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock valued at $30,000 after buying an additional 137 shares in the last quarter. American National Bank & Trust raised its holdings in shares of Boeing by 474.1% during the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock valued at $26,000 after buying an additional 128 shares in the last quarter. Proathlete Wealth Management LLC purchased a new position in shares of Boeing during the 1st quarter valued at about $34,000. Monetary Management Group Inc. raised its holdings in shares of Boeing by 33.3% during the 1st quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock valued at $34,000 after buying an additional 50 shares in the last quarter. Finally, Columbia River Financial Group LLC purchased a new position in shares of Boeing during the 1st quarter valued at about $50,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BA has been the topic of a number of analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $250.00 price target on shares of Boeing in a research note on Wednesday, July 30th. UBS Group set a $280.00 price target on Boeing and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Bank of America lifted their price target on Boeing from $260.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. The Goldman Sachs Group set a $212.00 price target on Boeing and gave the stock a "buy" rating in a research note on Thursday, June 12th. Finally, Susquehanna reaffirmed a "positive" rating and issued a $270.00 price target on shares of Boeing in a research note on Monday, September 15th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Boeing has a consensus rating of "Moderate Buy" and an average price target of $230.77.

Insider Activity at Boeing

In related news, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the sale, the executive vice president directly owned 35,873 shares in the company, valued at $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mortimer J. Buckley purchased 2,200 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the transaction, the director directly owned 2,200 shares of the company's stock, valued at $497,420. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.09% of the company's stock.

Boeing Stock Performance

Shares of BA stock opened at $213.60 on Friday. The firm has a market cap of $161.52 billion, a P/E ratio of -12.94 and a beta of 1.48. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69. The business's 50 day moving average price is $226.69 and its 200-day moving average price is $202.38.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The firm had revenue of $22.75 billion during the quarter, compared to analysts' expectations of $20.13 billion. The business's revenue was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($2.90) EPS. As a group, equities analysts predict that The Boeing Company will post -2.58 EPS for the current 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.

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