Mengis Capital Management Inc. Lowers Holdings in The Boeing Company (NYSE:BA)

Mengis Capital Management Inc. trimmed its holdings in The Boeing Company (NYSE:BA) by 3.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,544 shares of the aircraft producer’s stock after selling 475 shares during the quarter. Mengis Capital Management Inc.’s holdings in Boeing were worth $1,907,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Hobbs Group Advisors LLC purchased a new position in Boeing during the second quarter valued at $34,000. Kiely Wealth Advisory Group Inc. bought a new position in shares of Boeing during the 2nd quarter valued at about $33,000. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Boeing by 351.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after purchasing an additional 165 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of Boeing in the second quarter worth about $39,000. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of Boeing in the first quarter worth about $53,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BA shares. TD Cowen lowered 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. Jefferies Financial Group reduced 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. JPMorgan Chase & Co. decreased their price objective on Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, October 14th. Wells Fargo & Company lowered their price objective on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Finally, Stifel Nicolaus raised their target price on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $190.37.

Boeing Stock Down 2.5 %

BA stock opened at $145.17 on Wednesday. The stock has a market capitalization of $89.74 billion, a P/E ratio of -11.25 and a beta of 1.57. The Boeing Company has a 52 week low of $143.85 and a 52 week high of $267.54. The firm has a 50-day simple moving average of $154.49 and a 200-day simple moving average of $170.11.

Boeing (NYSE:BA) last released its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the previous year, the business posted ($3.26) EPS. Boeing’s quarterly revenue was down 1.5% on a year-over-year basis. On average, analysts expect that The Boeing Company will post -16.09 earnings per share for the current year.

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.