Meyer Handelman Co. Trims Position in The Boeing Company (NYSE:BA)

Meyer Handelman Co. reduced its position in The Boeing Company (NYSE:BA - Free Report) by 12.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,531 shares of the aircraft producer's stock after selling 6,200 shares during the period. Meyer Handelman Co.'s holdings in Boeing were worth $7,595,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Boeing by 24.4% in the 4th quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer's stock worth $11,406,361,000 after purchasing an additional 12,641,715 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Boeing by 29.5% in the 4th quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer's stock worth $2,677,170,000 after purchasing an additional 3,452,075 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Boeing by 33.6% in the 4th quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer's stock worth $1,151,316,000 after purchasing an additional 1,634,231 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Boeing by 3.4% in the 4th quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer's stock worth $890,469,000 after purchasing an additional 164,042 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Boeing by 30.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,178,444 shares of the aircraft producer's stock worth $739,585,000 after purchasing an additional 981,796 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

Boeing Price Performance

Shares of NYSE BA traded down $1.12 during mid-day trading on Friday, reaching $207.06. 7,476,210 shares of the company's stock were exchanged, compared to its average volume of 9,236,131. The firm has a market capitalization of $156.12 billion, a price-to-earnings ratio of -11.30 and a beta of 1.41. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $212.28. The firm has a 50-day moving average price of $178.83 and a two-hundred day moving average price of $172.45.

Boeing (NYSE:BA - Get Free Report) last released its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, topping analysts' consensus estimates of ($1.39) by $0.90. The business had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.57 billion. The company's revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.13) earnings per share. As a group, sell-side analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Benchmark dropped their price objective on Boeing from $250.00 to $215.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. Susquehanna restated a "positive" rating and set a $240.00 price objective (up from $205.00) on shares of Boeing in a research note on Wednesday, May 14th. Citigroup restated a "buy" rating on shares of Boeing in a research note on Thursday, May 22nd. Wells Fargo & Company restated an "underweight" rating on shares of Boeing in a research note on Thursday, May 22nd. Finally, Morgan Stanley restated an "equal weight" rating on shares of Boeing in a research note on Thursday, May 22nd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $204.35.

Insider Buying and Selling

In related news, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total value of $650,198.35. Following the completion of the sale, the executive vice president now owns 20,513 shares of the company's stock, valued at approximately $4,161,472.31. This trade represents a 13.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $206.28, for a total value of $132,019.20. Following the completion of the sale, the senior vice president now directly owns 13,258 shares of the company's stock, valued at approximately $2,734,860.24. This trade represents a 4.60% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,744 shares of company stock valued at $1,511,370. 0.09% of the stock is owned by insiders.

Boeing Profile

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.