Meyer Handelman Co. Has $8.40 Million Holdings in The Boeing Company (NYSE:BA)

Meyer Handelman Co. decreased its position in The Boeing Company (NYSE:BA) by 9.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,256 shares of the aircraft producer’s stock after selling 5,960 shares during the quarter. Meyer Handelman Co.’s holdings in Boeing were worth $8,401,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BA. Kiely Wealth Advisory Group Inc. bought a new stake in Boeing in the 2nd quarter valued at approximately $33,000. Vima LLC acquired a new position in Boeing during the fourth quarter worth $34,000. Hobbs Group Advisors LLC bought a new position in Boeing in the second quarter valued at $34,000. McClarren Financial Advisors Inc. increased its stake in Boeing by 451.4% in the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after buying an additional 158 shares during the last quarter. Finally, Accent Capital Management LLC bought a new stake in Boeing during the 4th quarter worth about $39,000. 64.82% of the stock is currently owned by institutional investors.

Boeing Price Performance

Shares of NYSE:BA opened at $151.05 on Friday. The company has a market capitalization of $93.07 billion, a P/E ratio of -26.83 and a beta of 1.57. The business’s 50 day simple moving average is $162.41 and its 200 day simple moving average is $173.94. The Boeing Company has a 1 year low of $146.26 and a 1 year high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The company had revenue of $16.87 billion during the quarter, compared to the consensus estimate of $17.35 billion. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.82) EPS. On average, sell-side analysts anticipate that The Boeing Company will post -5.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BA. Susquehanna reaffirmed a “positive” rating and issued a $230.00 target price on shares of Boeing in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. The Goldman Sachs Group lowered their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Stifel Nicolaus lifted their price target on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company dropped their price objective on Boeing from $119.00 to $110.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 1st. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $206.00.

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.