The Boeing Company (NYSE:BA) Stake Lessened by Meyer Handelman Co.

Meyer Handelman Co. lowered its holdings in The Boeing Company (NYSE:BA) by 12.2% in the first quarter, according to its most recent Form 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 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Amundi lifted its holdings in shares of Boeing by 473.6% in the fourth quarter. Amundi now owns 1,565,337 shares of the aircraft producer’s stock valued at $268,862,000 after purchasing an additional 1,292,417 shares in the last quarter. KKM Financial LLC raised its holdings in shares of Boeing by 50.8% during the fourth quarter. KKM Financial LLC now owns 15,368 shares of the aircraft producer’s stock worth $2,720,000 after acquiring an additional 5,175 shares in the last quarter. Grant Private Wealth Management Inc purchased a new stake in shares of Boeing during the fourth quarter worth $903,000. Tandem Capital Management Corp ADV raised its holdings in shares of Boeing by 65.2% during the fourth quarter. Tandem Capital Management Corp ADV now owns 13,815 shares of the aircraft producer’s stock worth $2,445,000 after acquiring an additional 5,451 shares in the last quarter. Finally, Winslow Asset Management Inc. raised its holdings in shares of Boeing by 8.2% during the fourth quarter. Winslow Asset Management Inc. now owns 40,761 shares of the aircraft producer’s stock worth $7,215,000 after acquiring an additional 3,096 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Insider Activity

In other news, SVP Brendan J. Nelson sold 640 shares of the firm’s 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP David Christopher Raymond sold 3,899 shares of Boeing stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $187.01, for a total value of $729,151.99. Following the sale, the executive vice president now directly owns 42,513 shares in the company, valued at approximately $7,950,356.13. This trade represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,744 shares of company stock valued at $1,511,370. 0.09% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BA. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Boeing in a report on Wednesday, April 23rd. Melius Research set a $204.00 price objective on Boeing in a report on Monday, March 24th. UBS Group increased their price objective on Boeing from $207.00 to $226.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Melius upgraded Boeing from a “hold” rating to a “buy” rating in a report on Monday, March 24th. Finally, Wells Fargo & Company reiterated an “underweight” rating on shares of Boeing in a report on Thursday, May 22nd. Three analysts have rated the stock with a sell rating, four have issued a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.35.

Boeing Stock Performance

Shares of NYSE:BA opened at $207.06 on Friday. The company has a market cap of $156.12 billion, a P/E ratio of -11.30 and a beta of 1.41. The stock’s 50-day moving average is $178.83 and its 200-day moving average is $172.23. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $212.28.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.39) by $0.90. The business had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.57 billion. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.13) earnings per share. As a group, equities analysts predict that The Boeing Company will post -2.58 EPS for the current year.

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.