Meridian Wealth Partners LLC Reduces Position in The Boeing Company (NYSE:BA)

Meridian Wealth Partners LLC decreased its position in The Boeing Company (NYSE:BA) by 13.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,468 shares of the aircraft producer’s stock after selling 229 shares during the period. Meridian Wealth Partners LLC’s holdings in Boeing were worth $267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BA. Capital Research Global Investors lifted its stake in Boeing by 35.5% during the 4th quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after acquiring an additional 4,425,964 shares during the period. Wellington Management Group LLP raised its holdings in shares of Boeing by 563.9% during the fourth quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock worth $896,434,000 after purchasing an additional 2,921,043 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Boeing by 23.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after purchasing an additional 1,884,850 shares during the period. Global Assets Advisory LLC purchased a new stake in Boeing in the first quarter valued at $272,312,000. Finally, Vanguard Group Inc. grew its position in Boeing by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after purchasing an additional 1,222,816 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Performance

BA stock opened at $156.38 on Wednesday. The firm has a market cap of $96.00 billion, a PE ratio of -44.05 and a beta of 1.57. The Boeing Company has a one year low of $154.02 and a one year high of $267.54. The firm’s 50 day moving average price is $172.95 and its 200-day moving average price is $178.39.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to analyst estimates of $17.35 billion. The business’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.82) earnings per share. Equities research analysts predict that The Boeing Company will post -4.26 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BA shares. Susquehanna reissued a “positive” rating and issued a $230.00 price objective on shares of Boeing in a report on Wednesday, August 14th. Wells Fargo & Company restated an “underweight” rating and set a $119.00 price target (down previously from $185.00) on shares of Boeing in a research report on Tuesday, September 3rd. UBS Group cut their price objective on shares of Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a report on Friday, June 7th. Robert W. Baird lowered their target price on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. Finally, Bank of America lifted their price target on Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, June 13th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and a consensus price target of $211.29.

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.