The Boeing Company $BA Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. cut its position in The Boeing Company (NYSE:BA) by 7.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 39,211 shares of the aircraft producer’s stock after selling 2,995 shares during the quarter. Meyer Handelman Co.’s holdings in Boeing were worth $8,463,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Alpha Cubed Investments LLC grew its holdings in Boeing by 43.3% in the 2nd quarter. Alpha Cubed Investments LLC now owns 3,598 shares of the aircraft producer’s stock worth $754,000 after buying an additional 1,088 shares in the last quarter. McElhenny Sheffield Capital Management LLC acquired a new position in Boeing during the 2nd quarter worth $62,859,000. Vanguard Group Inc. grew its stake in shares of Boeing by 1.7% in the second quarter. Vanguard Group Inc. now owns 66,773,360 shares of the aircraft producer’s stock worth $13,991,022,000 after purchasing an additional 1,118,316 shares in the last quarter. Patton Fund Management Inc. increased its holdings in shares of Boeing by 734.4% during the third quarter. Patton Fund Management Inc. now owns 10,322 shares of the aircraft producer’s stock valued at $2,228,000 after purchasing an additional 9,085 shares during the period. Finally, Vestor Capital LLC increased its holdings in shares of Boeing by 8,287.4% during the second quarter. Vestor Capital LLC now owns 246,086 shares of the aircraft producer’s stock valued at $51,562,000 after purchasing an additional 243,152 shares during the period. Institutional investors own 64.82% of the company’s stock.

Insider Buying and Selling at Boeing

In related news, SVP Dana S. Deasy purchased 554 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was acquired at an average price of $178.88 per share, for a total transaction of $99,099.52. Following the transaction, the senior vice president directly owned 28,442 shares of the company’s stock, valued at $5,087,704.96. This trade represents a 1.99% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Uma M. Amuluru sold 1,366 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $197.66, for a total value of $270,003.56. Following the sale, the executive vice president owned 14,656 shares in the company, valued at approximately $2,896,904.96. The trade was a 8.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.09% of the company’s stock.

Boeing Stock Performance

Shares of NYSE:BA opened at $216.34 on Friday. The stock has a market capitalization of $164.44 billion, a price-to-earnings ratio of -15.81 and a beta of 1.18. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $242.69. The company has a 50 day moving average price of $202.10 and a 200 day moving average price of $214.27.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($6.96). The business had revenue of $23.27 billion during the quarter, compared to the consensus estimate of $21.61 billion. The business’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($10.44) earnings per share. On average, sell-side analysts expect that The Boeing Company will post -2.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Citigroup began coverage on shares of Boeing in a report on Thursday, December 11th. They issued a “buy” rating and a $265.00 price objective for the company. The Goldman Sachs Group reiterated a “buy” rating on shares of Boeing in a report on Tuesday, December 9th. Sanford C. Bernstein reiterated an “outperform” rating and set a $267.00 price objective on shares of Boeing in a research note on Friday, November 14th. Vertical Research upgraded Boeing from a “hold” rating to a “buy” rating and upped their target price for the stock from $242.00 to $270.00 in a research report on Monday, September 8th. Finally, BNP Paribas set a $150.00 price target on Boeing in a research note on Tuesday, November 18th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $233.17.

Boeing Company Profile

Boeing Company (NYSE: BA) is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing’s principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.