Mengis Capital Management Inc. Sells 105 Shares of The Boeing Company (NYSE:BA)

Mengis Capital Management Inc. decreased its position in The Boeing Company (NYSE:BA) by 0.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,739 shares of the aircraft producer’s stock after selling 105 shares during the period. Mengis Capital Management Inc.’s holdings in Boeing were worth $2,173,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of BA. American National Bank & Trust boosted its holdings in Boeing by 474.1% in the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock worth $26,000 after buying an additional 128 shares during the period. REAP Financial Group LLC raised its holdings in Boeing by 60.2% during the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer’s stock valued at $31,000 after acquiring an additional 65 shares during the period. Dogwood Wealth Management LLC lifted its position in shares of Boeing by 167.2% during the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer’s stock worth $32,000 after acquiring an additional 112 shares in the last quarter. Solstein Capital LLC purchased a new stake in shares of Boeing during the fourth quarter worth $33,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Boeing in the fourth quarter worth $33,000. 64.82% of the stock is owned by institutional investors.

Boeing Price Performance

NYSE:BA opened at $221.87 on Friday. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $242.69. The business has a 50 day moving average of $214.84 and a 200 day moving average of $188.30. The company has a market capitalization of $167.77 billion, a price-to-earnings ratio of -13.44 and a beta of 1.41.

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Morgan Stanley reiterated an “equal weight” rating on shares of Boeing in a research note on Monday. Redburn Atlantic raised Boeing from a “hold” rating to a “strong-buy” rating and lifted their target price for the company from $180.00 to $275.00 in a report on Friday, June 27th. Jefferies Financial Group upped their price target on Boeing from $230.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. Rothschild & Co Redburn upgraded shares of Boeing from a “neutral” rating to a “buy” rating and set a $275.00 price objective for the company in a research report on Friday, June 27th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Boeing in a research note on Monday, July 14th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating, eighteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, Boeing currently has an average rating of “Moderate Buy” and an average target price of $228.73.

Insiders Place Their Bets

In other news, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $206.28, for a total value of $132,019.20. Following the transaction, the senior vice president owned 13,258 shares in the company, valued at approximately $2,734,860.24. The trade was a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the sale, the executive vice president owned 20,513 shares of the company’s stock, valued at $4,161,472.31. This represents a 13.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by company 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.