Meyer Handelman Co. Reduces Holdings in The Boeing Company

Meyer Handelman Co. has decreased its stake in The Boeing Company (NYSE:BA) by 9.7% during the third quarter, as indicated by its latest filing with the Securities and Exchange Commission (SEC). The firm now holds 55,256 shares after selling 5,960 shares during this period.

Institutional Investment Movements

Next Level Private LLC has made significant changes to its investments in Boeing as well. The firm raised its holdings by 50.1% in the third quarter, owning 22,621 shares after acquiring an additional 7,551 shares in that time frame. Boeing represents 1.4% of Next Level Private LLC's entire portfolio, ranking as its 20th largest position, with a total value of approximately $3,439,000 as noted in their recent SEC filing.

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Other hedge funds have also adjusted their positions regarding Boeing. Kiely Wealth Advisory Group Inc. initiated a new position in Boeing shares in the second quarter, valued at approximately $33,000. Vima LLC and Hobbs Group Advisors LLC made similar moves, purchasing new stakes worth $34,000 each during the fourth and second quarters respectively. Meanwhile, McClarren Financial Advisors Inc. increased its stake in Boeing by a massive 451.4% during the first quarter, bringing their total to 193 shares valued at $37,000 after acquiring an extra 158 shares. Accent Capital Management LLC entered a new position in Boeing valued at about $39,000 in the fourth quarter. Approximately 64.82% of Boeing's stock is currently held by institutional investors and hedge funds.

Analysts' Perspectives on Boeing Stock

Several financial analysts have weighed in on Boeing's stock recently. Stifel Nicolaus raised their target price for Boeing from $230.00 to $235.00, rating the stock as a "buy" on August 1st. Conversely, Sanford C. Bernstein lowered their price target from $222.00 to $207.00 in a report dated August 5th, while maintaining an "outperform" rating. Jefferies Financial Group also adjusted its target, reducing it from $270.00 to $240.00 with a "buy" recommendation on September 23rd. Susquehanna reiterated its optimistic outlook with a $230.00 price target on August 14th. The Goldman Sachs Group decreased its target from $232.00 to $202.00 with a "buy" rating on September 24th. Overall, the stock has received a variety of ratings with three analysts recommending a sell, seven offering a hold rating, fourteen endorsing a buy, and one providing a strong buy rating. Data from MarketBeat.com indicates that Boeing holds a consensus rating of "Moderate Buy" with an average price target of $206.00.

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Access Latest Research Report on Boeing

Boeing Stock Performance

On Friday, Boeing opened at $151.05. The company's stock has a 52-week low of $146.26 and a high of $267.54. It has a fifty-day simple moving average of $162.41 and a 200-day simple moving average of $173.94. Boeing's market capitalization stands at $93.07 billion, with a P/E ratio of -26.83 and a beta of 1.57.

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In its latest earnings results released on July 31st, Boeing reported an earnings per share (EPS) of ($2.90) for the past quarter, falling short of analysts’ expectations of ($1.00) by $1.90. For the quarter, the company's revenue was reported at $16.87 billion, compared to an anticipated $17.35 billion, representing a decline of 14.6% year-over-year. In the previous year, the firm posted an EPS of ($0.82). Analysts project that Boeing will end the current year with an earnings per share of -$5.35.

About The Boeing Company

Boeing Company, along with its subsidiaries, specializes in designing, developing, manufacturing, selling, servicing, and supporting a range of aircraft and space systems globally. It operates through various segments including Commercial Airplanes, Defense, Space & Security, and Global Services.

For Investors

Investors considering Boeing should be cautious. MarketBeat regularly monitors the top-performing research analysts and their stock recommendations. Currently, some analysts have identified five stocks believed to be better buys than Boeing.

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