M&T Bank Corp Sells 11,290 Shares of The Boeing Company (NYSE:BA)

M&T Bank Corp decreased its position in shares of The Boeing Company (NYSE:BA) by 13.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,222 shares of the aircraft producer’s stock after selling 11,290 shares during the period. M&T Bank Corp’s holdings in Boeing were worth $10,829,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of BA. Lantz Financial LLC increased its position in shares of Boeing by 109.7% in the second quarter. Lantz Financial LLC now owns 2,695 shares of the aircraft producer’s stock worth $491,000 after purchasing an additional 1,410 shares during the period. Callan Family Office LLC bought a new position in Boeing in the 2nd quarter valued at about $210,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Boeing by 2.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 37,395 shares of the aircraft producer’s stock worth $6,806,000 after acquiring an additional 981 shares during the period. Signature Estate & Investment Advisors LLC increased its stake in Boeing by 78.2% in the second quarter. Signature Estate & Investment Advisors LLC now owns 3,291 shares of the aircraft producer’s stock valued at $599,000 after acquiring an additional 1,444 shares during the last quarter. Finally, Bensler LLC raised its position in Boeing by 4.2% during the second quarter. Bensler LLC now owns 1,888 shares of the aircraft producer’s stock valued at $344,000 after purchasing an additional 76 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Up 0.2 %

BA stock opened at $177.35 on Monday. The firm has a market cap of $109.64 billion, a price-to-earnings ratio of -13.75 and a beta of 1.56. The company’s fifty day simple moving average is $155.10 and its 200 day simple moving average is $165.90. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $267.54.

Boeing (NYSE:BA) last issued its 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 business had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same period in the prior year, the firm posted ($3.26) EPS. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. Research analysts expect that The Boeing Company will post -16.18 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BA shares. Benchmark reaffirmed a “buy” rating and issued a $250.00 target price on shares of Boeing in a report on Thursday, October 24th. UBS Group dropped their target price on shares of Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 24th. DZ Bank lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a report on Tuesday, October 15th. TD Cowen cut their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Jefferies Financial Group cut their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $190.11.

Boeing 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.