Meridian Wealth Management LLC Has $1.66 Million Stake in The Boeing Company (NYSE:BA)

Meridian Wealth Management LLC lowered its holdings in The Boeing Company (NYSE:BA) by 6.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,348 shares of the aircraft producer’s stock after selling 664 shares during the quarter. Meridian Wealth Management LLC’s holdings in Boeing were worth $1,655,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Keynote Financial Services LLC grew its position in Boeing by 3.8% in the 4th quarter. Keynote Financial Services LLC now owns 1,542 shares of the aircraft producer’s stock valued at $273,000 after purchasing an additional 57 shares during the period. Chaney Capital Management Inc. grew its position in Boeing by 2.1% in the 4th quarter. Chaney Capital Management Inc. now owns 2,870 shares of the aircraft producer’s stock valued at $508,000 after purchasing an additional 58 shares during the period. Farmers & Merchants Investments Inc. grew its position in Boeing by 0.6% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 10,608 shares of the aircraft producer’s stock valued at $1,878,000 after purchasing an additional 59 shares during the period. Center for Financial Planning Inc. grew its position in Boeing by 12.0% in the 4th quarter. Center for Financial Planning Inc. now owns 562 shares of the aircraft producer’s stock valued at $99,000 after purchasing an additional 60 shares during the period. Finally, Transcend Capital Advisors LLC grew its position in Boeing by 1.3% in the 4th quarter. Transcend Capital Advisors LLC now owns 4,923 shares of the aircraft producer’s stock valued at $871,000 after purchasing an additional 61 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of BA opened at $170.24 on Tuesday. The business has a 50-day moving average of $176.72 and a 200 day moving average of $164.64. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $203.80. The firm has a market cap of $127.69 billion, a P/E ratio of -9.29 and a beta of 1.52.

Boeing (NYSE:BA) last announced its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period in the prior year, the firm earned ($0.47) earnings per share. As a group, research analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BA has been the subject of several research reports. Barclays raised shares of Boeing from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $190.00 to $210.00 in a research report on Monday, January 6th. Citigroup raised their price objective on Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research note on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised their price objective on Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Finally, Susquehanna raised their price objective on Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.16.

Insider Buying and Selling

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of Boeing stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $180.69, for a total transaction of $570,799.71. Following the completion of the transaction, the executive vice president now owns 19,213 shares of the company’s stock, valued at $3,471,596.97. The trade was a 14.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is currently owned by insiders.

Boeing Company 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.