Meridian Wealth Partners LLC Boosts Holdings in The Boeing Company (NYSE:BA)

Meridian Wealth Partners LLC grew its holdings in The Boeing Company (NYSE:BA) by 9.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,446 shares of the aircraft producer’s stock after purchasing an additional 121 shares during the quarter. Meridian Wealth Partners LLC’s holdings in Boeing were worth $256,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Pacer Advisors Inc. lifted its stake in Boeing by 5.1% in the third quarter. Pacer Advisors Inc. now owns 43,398 shares of the aircraft producer’s stock worth $6,598,000 after acquiring an additional 2,111 shares during the last quarter. Raymond James Trust N.A. lifted its stake in Boeing by 2.1% in the third quarter. Raymond James Trust N.A. now owns 22,586 shares of the aircraft producer’s stock worth $3,434,000 after acquiring an additional 469 shares during the last quarter. CFS Investment Advisory Services LLC purchased a new position in Boeing in the third quarter worth approximately $427,000. Meridian Wealth Management LLC purchased a new position in Boeing in the third quarter worth approximately $1,522,000. Finally, Nwam LLC purchased a new position in Boeing in the third quarter worth approximately $2,899,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. UBS Group raised their price objective on shares of Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Northcoast Research raised shares of Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. Citigroup raised their price objective on shares of Boeing from $207.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Susquehanna raised their price objective on shares of Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Finally, 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. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and an average price target of $195.68.

Insider Activity

In related news, EVP Uma M. Amuluru sold 3,159 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total transaction of $570,799.71. Following the completion of the sale, the executive vice president now owns 19,213 shares of the company’s stock, valued at approximately $3,471,596.97. This represents a 14.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Boeing Stock Up 3.2 %

Boeing stock opened at $178.32 on Friday. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $196.95. The firm’s 50-day simple moving average is $172.98 and its 200 day simple moving average is $163.59. The firm has a market capitalization of $133.75 billion, a PE ratio of -9.73 and a beta of 1.53.

Boeing (NYSE:BA) last announced its earnings results 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 quarter in the previous year, the business earned ($0.47) EPS. On average, research analysts expect that The Boeing Company will post -2.58 EPS for the current fiscal year.

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.