Meyer Handelman Co. Has $8.40 Million Position in The Boeing Company (NYSE:BA)

Meyer Handelman Co. lowered its stake in The Boeing Company (NYSE:BA) by 9.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,256 shares of the aircraft producer’s stock after selling 5,960 shares during the period. Meyer Handelman Co.’s holdings in Boeing were worth $8,401,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Boeing by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after acquiring an additional 1,222,816 shares during the last quarter. Newport Trust Company LLC grew its holdings in shares of Boeing by 1.2% during the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after purchasing an additional 388,633 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Boeing by 1.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock valued at $1,386,757,000 after buying an additional 106,513 shares during the period. Jennison Associates LLC boosted its position in Boeing by 14.1% during the 1st quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock worth $811,221,000 after buying an additional 518,952 shares during the period. Finally, Wellington Management Group LLP increased its position in Boeing by 563.9% in the 4th quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock valued at $896,434,000 after acquiring an additional 2,921,043 shares during the period. Institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BA. Sanford C. Bernstein reduced their price objective on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. TD Cowen decreased their price target on Boeing from $230.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Jefferies Financial Group lowered their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. The Goldman Sachs Group reduced their target price on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Finally, Stifel Nicolaus boosted their price target on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $206.00.

Boeing Stock Up 3.0 %

Shares of NYSE:BA opened at $151.05 on Friday. The Boeing Company has a twelve month low of $146.26 and a twelve month high of $267.54. The stock’s 50 day moving average is $162.41 and its 200-day moving average is $173.94. The firm has a market capitalization of $93.07 billion, a price-to-earnings ratio of -26.83 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) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to analyst estimates of $17.35 billion. During the same period in the previous year, the business earned ($0.82) EPS. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. Equities research analysts anticipate that The Boeing Company will post -5.35 earnings per share for the current fiscal year.

Boeing Company 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.