Meridian Wealth Management LLC Purchases Shares of 10,012 The Boeing Company (NYSE:BA)

Meridian Wealth Management LLC purchased a new stake in The Boeing Company (NYSE:BA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,012 shares of the aircraft producer’s stock, valued at approximately $1,522,000.

Several other large investors have also recently added to or reduced their stakes in the company. Hobbs Group Advisors LLC bought a new stake in shares of Boeing in the 2nd quarter valued at approximately $34,000. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Boeing in the 2nd quarter valued at approximately $33,000. Cedar Wealth Management LLC bought a new stake in shares of Boeing in the 3rd quarter valued at approximately $30,000. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Boeing by 351.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after purchasing an additional 165 shares during the period. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Boeing in the 2nd quarter valued at approximately $39,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of BA opened at $149.27 on Friday. The firm has a market capitalization of $92.28 billion, a price-to-earnings ratio of -11.57 and a beta of 1.57. The business’s fifty day moving average price is $151.70 and its two-hundred day moving average price is $168.42. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $267.54.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($3.26) earnings per share. As a group, research analysts forecast that The Boeing Company will post -16.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BA shares. Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. DZ Bank lowered Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a research note on Tuesday, October 15th. Stifel Nicolaus upped their price objective on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. TD Cowen decreased their price target on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Wells Fargo & Company decreased their price target on Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $190.37.

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.