Merit Financial Group LLC Has $3 Million Stock Holdings in The Boeing Company (NYSE:BA)

Merit Financial Group LLC reduced its stake in The Boeing Company (NYSE:BA) by 25.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 16,960 shares of the aircraft producer’s stock after selling 5,939 shares during the period. Merit Financial Group LLC’s holdings in Boeing were worth $3,002,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Grant GrossMendelsohn LLC bought a new stake in Boeing during the fourth quarter valued at $204,000. Saxon Interests Inc. bought a new stake in shares of Boeing during the 4th quarter valued at about $252,000. Wealthcare Advisory Partners LLC grew its stake in Boeing by 8.3% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 9,122 shares of the aircraft producer’s stock worth $1,615,000 after purchasing an additional 700 shares during the period. Everpar Advisors LLC increased its holdings in Boeing by 15.2% in the fourth quarter. Everpar Advisors LLC now owns 4,573 shares of the aircraft producer’s stock worth $809,000 after purchasing an additional 602 shares in the last quarter. Finally, KMG Fiduciary Partners LLC boosted its holdings in shares of Boeing by 5.9% during the 4th quarter. KMG Fiduciary Partners LLC now owns 3,529 shares of the aircraft producer’s stock worth $625,000 after buying an additional 196 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

Boeing Price Performance

Shares of NYSE:BA opened at $171.14 on Monday. The Boeing Company has a 1 year low of $137.03 and a 1 year high of $217.59. The company has a market capitalization of $105.80 billion, a PE ratio of -13.27 and a beta of 1.52. The business has a fifty day moving average price of $163.15 and a two-hundred day moving average price of $164.75.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. The business’s revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($3.26) EPS. Sell-side analysts anticipate that The Boeing Company will post -16.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BA. Susquehanna lowered their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $195.00 to $169.00 in a research report on Wednesday, October 30th. JPMorgan Chase & Co. reduced their target price on Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Benchmark reaffirmed a “buy” rating and set a $250.00 price target on shares of Boeing in a research note on Thursday, October 24th. Finally, TD Cowen reduced their price objective on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $192.21.

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.