Meritage Portfolio Management Cuts Stock Holdings in The Boeing Company (NYSE:BA)

Meritage Portfolio Management trimmed its position in shares of The Boeing Company (NYSE:BA) by 87.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,335 shares of the aircraft producer’s stock after selling 9,418 shares during the quarter. Meritage Portfolio Management’s holdings in Boeing were worth $236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of BA. AdvisorNet Financial Inc boosted its holdings in shares of Boeing by 54.2% in the 4th quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock worth $358,000 after buying an additional 710 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings in shares of Boeing by 8.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock worth $72,075,000 after buying an additional 38,300 shares during the last quarter. Carnegie Investment Counsel boosted its holdings in shares of Boeing by 175.6% in the 4th quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock worth $818,000 after buying an additional 2,943 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Boeing by 6.1% in the 3rd quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after purchasing an additional 38,332 shares during the period. Finally, Jennison Associates LLC lifted its stake in Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after purchasing an additional 602,143 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Trading Up 1.6 %

Shares of NYSE BA opened at $184.81 on Friday. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $213.77. The firm has a market capitalization of $114.25 billion, a price-to-earnings ratio of -10.09 and a beta of 1.52. The business has a 50-day moving average of $171.05 and a 200-day moving average of $164.12.

Boeing (NYSE:BA) last released its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same quarter last year, the firm posted ($0.47) earnings per share. On average, analysts predict that The Boeing Company will post -2.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BA shares. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Boeing in a report on Wednesday, January 29th. Susquehanna increased their price objective on Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. increased their price objective on Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Citigroup reduced their price objective on Boeing from $209.00 to $207.00 and set a “buy” rating for the company in a report on Friday, January 24th. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $195.00.

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.