Meridian Wealth Management LLC Cuts Stock Holdings in The Boeing Company (NYSE:BA)

Meridian Wealth Management LLC decreased its holdings in shares of The Boeing Company (NYSE:BA) by 6.6% in the 4th quarter, Holdings Channel reports. The firm owned 9,348 shares of the aircraft producer’s stock after selling 664 shares during the period. Meridian Wealth Management LLC’s holdings in Boeing were worth $1,655,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sierra Ocean LLC bought a new stake in Boeing in the 4th quarter worth approximately $26,000. Sugar Maple Asset Management LLC bought a new stake in Boeing in the 4th quarter worth approximately $27,000. Fiduciary Advisors Inc. bought a new stake in Boeing in the 4th quarter worth approximately $28,000. HighMark Wealth Management LLC lifted its position in Boeing by 121.6% in the 4th quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock worth $29,000 after buying an additional 90 shares during the last quarter. Finally, Anfield Capital Management LLC lifted its position in Boeing by 113.1% in the 4th quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer’s stock worth $32,000 after buying an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Down 2.5 %

NYSE BA opened at $170.24 on Tuesday. The stock has a market cap of $127.69 billion, a P/E ratio of -9.29 and a beta of 1.52. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $203.80. The stock’s fifty day moving average price is $176.72 and its 200-day moving average price is $164.64.

Boeing (NYSE:BA) last announced its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same quarter in the previous year, the company earned ($0.47) earnings per share. As a group, analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Boeing

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

Wall Street Analyst Weigh In

BA has been the subject of several recent research reports. Citigroup boosted their price objective on Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research report on Wednesday, January 29th. UBS Group boosted their price objective on Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Wells Fargo & Company boosted their price objective on Boeing from $85.00 to $103.00 and gave the company an “underweight” rating in a research report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $195.16.

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.