Bank of New York Mellon Corp Has $747.32 Million Stake in The Boeing Company $BA

Bank of New York Mellon Corp trimmed its holdings in The Boeing Company (NYSE:BA) by 8.1% in the second quarter, Holdings Channel reports. The institutional investor owned 3,566,633 shares of the aircraft producer’s stock after selling 313,783 shares during the period. Bank of New York Mellon Corp’s holdings in Boeing were worth $747,317,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wallace Advisory Group LLC raised its position in shares of Boeing by 1.2% in the second quarter. Wallace Advisory Group LLC now owns 3,570 shares of the aircraft producer’s stock valued at $748,000 after buying an additional 44 shares in the last quarter. Aspire Capital Advisors LLC raised its position in shares of Boeing by 0.8% in the second quarter. Aspire Capital Advisors LLC now owns 5,943 shares of the aircraft producer’s stock valued at $1,245,000 after buying an additional 45 shares in the last quarter. Lantz Financial LLC raised its position in shares of Boeing by 1.5% in the second quarter. Lantz Financial LLC now owns 3,072 shares of the aircraft producer’s stock valued at $644,000 after buying an additional 46 shares in the last quarter. Atlas Brown Inc. raised its position in shares of Boeing by 0.7% in the second quarter. Atlas Brown Inc. now owns 6,498 shares of the aircraft producer’s stock valued at $1,362,000 after buying an additional 48 shares in the last quarter. Finally, Moody National Bank Trust Division raised its position in shares of Boeing by 2.7% in the second quarter. Moody National Bank Trust Division now owns 1,836 shares of the aircraft producer’s stock valued at $385,000 after buying an additional 48 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Sanford C. Bernstein lifted their price target on shares of Boeing from $249.00 to $282.00 and gave the company an “outperform” rating in a research report on Thursday, October 2nd. Zacks Research downgraded shares of Boeing from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 29th. Vertical Research upgraded shares of Boeing from a “hold” rating to a “buy” rating and boosted their price objective for the company from $242.00 to $270.00 in a research report on Monday, September 8th. UBS Group restated a “buy” rating on shares of Boeing in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $240.00 price objective for the company. in a research report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $241.80.

Boeing Stock Performance

Shares of NYSE:BA opened at $204.88 on Tuesday. The company has a fifty day moving average of $219.74 and a 200-day moving average of $213.47. The company has a market capitalization of $155.73 billion, a PE ratio of -14.98 and a beta of 1.47. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($6.96). The firm had revenue of $23.27 billion for the quarter, compared to the consensus estimate of $21.61 billion. The business’s quarterly revenue was up 30.4% on a year-over-year basis. During the same period in the previous year, the business earned ($10.44) EPS. On average, equities analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Buying and Selling at Boeing

In related news, Director Mortimer J. Buckley purchased 2,200 shares of the stock in a transaction dated Tuesday, August 19th. The stock was bought at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the acquisition, the director owned 2,200 shares of the company’s stock, valued at approximately $497,420. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the transaction, the executive vice president owned 35,873 shares of the company’s stock, valued at $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.09% of the stock is currently owned by corporate 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.