Meritage Portfolio Management Trims Stock Position in The Boeing Company $BA

Meritage Portfolio Management lowered its position in The Boeing Company (NYSE:BA) by 6.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,255 shares of the aircraft producer’s stock after selling 80 shares during the period. Meritage Portfolio Management’s holdings in Boeing were worth $263,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Boeing by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock worth $11,197,468,000 after buying an additional 1,212,327 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Boeing by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer’s stock worth $715,979,000 after purchasing an additional 19,615 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Boeing by 3.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,933,139 shares of the aircraft producer’s stock valued at $500,247,000 after purchasing an additional 91,707 shares in the last quarter. Swiss National Bank raised its position in Boeing by 2.5% in the first quarter. Swiss National Bank now owns 2,110,200 shares of the aircraft producer’s stock valued at $359,895,000 after purchasing an additional 51,700 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Boeing by 3.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,968,748 shares of the aircraft producer’s stock worth $335,770,000 after purchasing an additional 69,560 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of NYSE BA opened at $215.53 on Tuesday. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The firm has a market cap of $162.98 billion, a price-to-earnings ratio of -13.05 and a beta of 1.47. The stock’s 50-day simple moving average is $224.15 and its 200-day simple moving average is $206.87.

Boeing (NYSE:BA) last announced its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.32). The firm had revenue of $22.75 billion during the quarter, compared to analyst estimates of $20.13 billion. During the same quarter last year, the firm posted ($2.90) earnings per share. The business’s revenue was up 34.9% on a year-over-year basis. As a group, research analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BA. Rothschild & Co Redburn upgraded Boeing from a “neutral” rating to a “buy” rating and set a $275.00 target price for the company in a research note on Friday, June 27th. Bank of America increased their price objective on shares of Boeing from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 1st. KGI Securities raised shares of Boeing from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 24th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $250.00 price target on shares of Boeing in a report on Monday, September 29th. Finally, Citigroup reiterated a “buy” rating on shares of Boeing in a report on Monday, July 28th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $236.00.

Insider Activity

In other news, Director Mortimer J. Buckley acquired 2,200 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of $226.10 per share, with a total value of $497,420.00. Following the completion of the acquisition, the director directly owned 2,200 shares in the company, valued at $497,420. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $229.94, for a total value of $867,103.74. Following the completion of the sale, the executive vice president directly owned 35,873 shares of the company’s stock, valued at approximately $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

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.