Meyer Handelman Co. Sells 4,525 Shares of The Boeing Company (NYSE:BA)

Meyer Handelman Co. decreased its position in shares of The Boeing Company (NYSE:BA) by 8.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,731 shares of the aircraft producer’s stock after selling 4,525 shares during the period. Meyer Handelman Co.’s holdings in Boeing were worth $8,979,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new position in shares of Boeing during the third quarter worth approximately $28,000. Cedar Wealth Management LLC bought a new position in shares of Boeing during the 3rd quarter valued at $30,000. Kiely Wealth Advisory Group Inc. purchased a new position in Boeing in the 2nd quarter worth $33,000. Planning Capital Management Corp increased its holdings in shares of Boeing by 741.0% in the third quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock worth $50,000 after buying an additional 289 shares during the period. Finally, Truvestments Capital LLC purchased a new stake in Boeing during the 3rd quarter valued at about $58,000. Institutional investors own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BA shares. Barclays raised shares of Boeing from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $190.00 to $210.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. dropped their price objective on Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Susquehanna cut their price target on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Finally, Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $195.00 to $169.00 in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $192.21.

Boeing Trading Down 2.0 %

Shares of BA opened at $167.17 on Wednesday. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $217.59. The business’s fifty day simple moving average is $162.02 and its two-hundred day simple moving average is $164.97. The company has a market cap of $103.34 billion, a price-to-earnings ratio of -12.96 and a beta of 1.52.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the previous year, the business earned ($3.26) earnings per share. Boeing’s revenue was down 1.5% compared to the same quarter last year. As a group, research analysts forecast that The Boeing Company will post -16.18 EPS for the current year.

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.