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

Meyer Handelman Co. trimmed its position in The Boeing Company (NYSE:BA) by 7.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Wallace Advisory Group LLC raised its holdings in Boeing by 1.2% in the second quarter. Wallace Advisory Group LLC now owns 3,570 shares of the aircraft producer’s stock valued at $748,000 after buying an additional 44 shares during the period. Aspire Capital Advisors LLC increased its position in shares of Boeing by 0.8% in the second quarter. Aspire Capital Advisors LLC now owns 5,943 shares of the aircraft producer’s stock worth $1,245,000 after acquiring an additional 45 shares in the last quarter. Lantz Financial LLC raised its stake in shares of Boeing by 1.5% in the 2nd quarter. Lantz Financial LLC now owns 3,072 shares of the aircraft producer’s stock valued at $644,000 after acquiring an additional 46 shares during the period. Blue Barn Wealth LLC raised its stake in shares of Boeing by 1.8% in the 2nd quarter. Blue Barn Wealth LLC now owns 2,594 shares of the aircraft producer’s stock valued at $544,000 after acquiring an additional 46 shares during the period. Finally, Atlas Brown Inc. lifted its holdings in shares of Boeing by 0.7% during the 2nd quarter. Atlas Brown Inc. now owns 6,498 shares of the aircraft producer’s stock valued at $1,362,000 after acquiring an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Down 0.8%

Shares of BA opened at $216.34 on Friday. The firm has a market cap of $164.44 billion, a price-to-earnings ratio of -15.81 and a beta of 1.18. The business’s 50 day moving average is $202.10 and its two-hundred day moving average is $214.27. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69.

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

Analysts Set New Price Targets

Several analysts recently issued reports on BA shares. Zacks Research upgraded Boeing from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. The Goldman Sachs Group reiterated a “buy” rating on shares of Boeing in a report on Tuesday, December 9th. Deutsche Bank Aktiengesellschaft cut Boeing from a “buy” rating to a “hold” rating and set a $240.00 price target for the company. in a report on Thursday, October 30th. Vertical Research upgraded shares of Boeing from a “hold” rating to a “buy” rating and lifted their price objective for the company from $242.00 to $270.00 in a research note on Monday, September 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Boeing in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $233.17.

Insider Activity

In related news, 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 completion of the sale, the executive vice president directly owned 14,656 shares of the company’s stock, valued at $2,896,904.96. The trade was a 8.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Dana S. Deasy acquired 554 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were acquired at an average cost of $178.88 per share, with a total value of $99,099.52. Following the transaction, the senior vice president owned 28,442 shares in the company, valued at approximately $5,087,704.96. The trade was a 1.99% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.09% of the stock is currently owned by insiders.

About Boeing

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.