M&T Bank Corp Sells 3,663 Shares of The Boeing Company (NYSE:BA)

M&T Bank Corp lessened its position in shares of The Boeing Company (NYSE:BA) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,141 shares of the aircraft producer’s stock after selling 3,663 shares during the period. M&T Bank Corp’s holdings in Boeing were worth $24,278,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Strategic Blueprint LLC boosted its position in Boeing by 8.7% during the 4th quarter. Strategic Blueprint LLC now owns 3,295 shares of the aircraft producer’s stock worth $859,000 after acquiring an additional 264 shares during the last quarter. Orca Investment Management LLC lifted its position in Boeing by 5.5% during the 4th quarter. Orca Investment Management LLC now owns 3,772 shares of the aircraft producer’s stock worth $983,000 after buying an additional 195 shares in the last quarter. Morse Asset Management Inc boosted its stake in shares of Boeing by 65.0% during the 3rd quarter. Morse Asset Management Inc now owns 7,999 shares of the aircraft producer’s stock worth $1,533,000 after buying an additional 3,152 shares during the last quarter. Peregrine Asset Advisers Inc. grew its holdings in shares of Boeing by 1,335.3% in the 3rd quarter. Peregrine Asset Advisers Inc. now owns 36,443 shares of the aircraft producer’s stock valued at $6,985,000 after acquiring an additional 33,904 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in shares of Boeing by 2.0% in the third quarter. California Public Employees Retirement System now owns 1,037,044 shares of the aircraft producer’s stock valued at $198,781,000 after acquiring an additional 19,847 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of BA stock traded up $0.94 during trading on Friday, hitting $179.79. The company had a trading volume of 5,416,263 shares, compared to its average volume of 8,228,397. The stock’s 50-day moving average price is $183.74 and its 200 day moving average price is $205.91. The Boeing Company has a one year low of $159.70 and a one year high of $267.54. The firm has a market capitalization of $110.37 billion, a P/E ratio of -50.64 and a beta of 1.54.

Boeing (NYSE:BA) last released its 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 company had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. During the same period last year, the company posted ($1.75) earnings per share. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, research analysts anticipate that The Boeing Company will post -0.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Northcoast Research downgraded Boeing from a “neutral” rating to a “sell” rating and set a $140.00 price target for the company. in a research note on Wednesday, April 17th. Sanford C. Bernstein dropped their price target on shares of Boeing from $272.00 to $240.00 and set an “outperform” rating on the stock in a research report on Monday, April 8th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Boeing from $240.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Wells Fargo & Company lowered their price objective on shares of Boeing from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 1st. Finally, Morgan Stanley reduced their price target on Boeing from $235.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Boeing currently has a consensus rating of “Hold” and an average price target of $222.41.

About Boeing

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.