Bank of New York Mellon Corp Has $694.09 Million Stock Position in The Boeing Company (NYSE:BA)

Bank of New York Mellon Corp increased its holdings in The Boeing Company (NYSE:BA) by 17.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,921,417 shares of the aircraft producer’s stock after acquiring an additional 581,987 shares during the period. Bank of New York Mellon Corp’s holdings in Boeing were worth $694,091,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Boeing by 23.5% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 2,998 shares of the aircraft producer’s stock worth $456,000 after acquiring an additional 570 shares in the last quarter. Modera Wealth Management LLC grew its stake in shares of Boeing by 12.6% in the 3rd quarter. Modera Wealth Management LLC now owns 6,237 shares of the aircraft producer’s stock valued at $948,000 after buying an additional 700 shares in the last quarter. Frank Rimerman Advisors LLC increased its holdings in Boeing by 4.6% in the third quarter. Frank Rimerman Advisors LLC now owns 2,906 shares of the aircraft producer’s stock worth $442,000 after buying an additional 128 shares during the last quarter. Concord Wealth Partners raised its position in Boeing by 34.4% during the third quarter. Concord Wealth Partners now owns 504 shares of the aircraft producer’s stock valued at $77,000 after acquiring an additional 129 shares in the last quarter. Finally, Orrstown Financial Services Inc. acquired a new stake in Boeing in the third quarter valued at approximately $251,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on BA. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $195.00 to $169.00 in a research note on Wednesday, October 30th. Susquehanna increased their target price on shares of Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Wells Fargo & Company boosted their price target on Boeing from $85.00 to $103.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 29th. Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Boeing in a report on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $195.16.

Boeing Stock Performance

Shares of BA opened at $178.36 on Wednesday. The company has a 50-day simple moving average of $176.98 and a 200-day simple moving average of $164.55. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $208.10. The firm has a market capitalization of $133.78 billion, a P/E ratio of -9.74 and a beta of 1.52.

Boeing (NYSE:BA) last posted its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS 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) earnings per share. As a group, equities analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Activity at Boeing

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