Mengis Capital Management Inc. Increases Stake in The Boeing Company (NYSE:BA)

Mengis Capital Management Inc. lifted its position in The Boeing Company (NYSE:BAFree Report) by 134.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,389 shares of the aircraft producer’s stock after acquiring an additional 4,235 shares during the quarter. Mengis Capital Management Inc.’s holdings in Boeing were worth $1,416,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. CNB Bank increased its stake in Boeing by 106.5% in the 3rd quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after buying an additional 66 shares during the period. Coston McIsaac & Partners increased its position in Boeing by 62.5% during the 2nd quarter. Coston McIsaac & Partners now owns 130 shares of the aircraft producer’s stock valued at $27,000 after purchasing an additional 50 shares during the period. IFS Advisors LLC grew its position in shares of Boeing by 523.8% in the 2nd quarter. IFS Advisors LLC now owns 131 shares of the aircraft producer’s stock worth $28,000 after buying an additional 110 shares during the last quarter. Blue Bell Private Wealth Management LLC grew its position in shares of Boeing by 54.3% in the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 142 shares of the aircraft producer’s stock worth $30,000 after buying an additional 50 shares during the last quarter. Finally, VisionPoint Advisory Group LLC purchased a new position in shares of Boeing in the 2nd quarter worth approximately $32,000. Institutional investors own 61.33% of the company’s stock.

Boeing Stock Performance

Shares of BA traded up $0.13 during mid-day trading on Monday, hitting $209.33. 4,067,303 shares of the company’s stock were exchanged, compared to its average volume of 12,920,410. The company has a market cap of $127.72 billion, a price-to-earnings ratio of -56.46, a P/E/G ratio of 18.97 and a beta of 1.56. The Boeing Company has a fifty-two week low of $176.25 and a fifty-two week high of $267.54. The stock’s 50-day moving average is $232.38 and its 200-day moving average is $217.35.

Boeing (NYSE:BAGet Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.25. The business had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.75) EPS. As a group, equities research analysts anticipate that The Boeing Company will post 2.76 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on BA shares. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Boeing in a research report on Wednesday, November 1st. Wells Fargo & Company decreased their price objective on shares of Boeing from $225.00 to $215.00 and set an “equal weight” rating for the company in a research note on Thursday, February 1st. Bank of America cut shares of Boeing from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $255.00 to $225.00 in a research note on Thursday, January 25th. Edward Jones cut shares of Boeing from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, Royal Bank of Canada decreased their price objective on shares of Boeing from $285.00 to $260.00 and set an “outperform” rating for the company in a research note on Thursday, February 1st. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $252.63.

Read Our Latest Stock Analysis on BA

Boeing Profile

(Free Report)

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 four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

See Also

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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