The Boeing Company (NYSE:BA) Stock Position Decreased by M&T Bank Corp

M&T Bank Corp decreased its holdings in shares of The Boeing Company (NYSE:BA) by 10.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,295 shares of the aircraft producer’s stock after selling 7,410 shares during the quarter. M&T Bank Corp’s holdings in Boeing were worth $11,307,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BA. American National Bank & Trust lifted its stake in shares of Boeing by 474.1% in the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock worth $26,000 after buying an additional 128 shares during the last quarter. REAP Financial Group LLC increased its stake in shares of Boeing by 60.2% in the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer’s stock worth $31,000 after purchasing an additional 65 shares during the period. Dogwood Wealth Management LLC increased its stake in shares of Boeing by 167.2% in the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer’s stock worth $32,000 after purchasing an additional 112 shares during the period. Solstein Capital LLC bought a new position in shares of Boeing in the fourth quarter worth about $33,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Boeing in the fourth quarter worth about $33,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BA. Morgan Stanley set a $200.00 price objective on Boeing and gave the stock an “equal weight” rating in a research note on Thursday, June 12th. Redburn Atlantic raised shares of Boeing from a “hold” rating to a “strong-buy” rating and upped their target price for the company from $180.00 to $275.00 in a research note on Friday, June 27th. Royal Bank Of Canada reaffirmed a “cautious” rating on shares of Boeing in a research note on Thursday, June 12th. Jefferies Financial Group lifted their price target on shares of Boeing from $230.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. Finally, Benchmark dropped their price target on Boeing from $250.00 to $215.00 and set a “buy” rating for the company in a report on Monday, April 21st. Four research analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $216.32.

Boeing Price Performance

Shares of Boeing stock opened at $226.45 on Thursday. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $230.20. The business has a 50-day moving average of $204.45 and a two-hundred day moving average of $182.30. The company has a market capitalization of $170.75 billion, a P/E ratio of -12.64 and a beta of 1.41.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($1.39) by $0.90. The company had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.57 billion. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the company earned ($1.13) EPS. On average, equities analysts anticipate that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Activity

In other news, EVP David Christopher Raymond sold 3,899 shares of the business’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $187.01, for a total value of $729,151.99. Following the sale, the executive vice president directly owned 42,513 shares in the company, valued at $7,950,356.13. The trade was a 8.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total transaction of $650,198.35. Following the completion of the sale, the executive vice president owned 20,513 shares in the company, valued at $4,161,472.31. This trade represents a 13.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,744 shares of company stock worth $1,511,370 over the last quarter. 0.09% of the stock is currently owned by company insiders.

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.