Merit Financial Group LLC Has $6.68 Million Holdings in The Boeing Company $BA

Merit Financial Group LLC boosted its holdings in shares of The Boeing Company (NYSE:BA) by 72.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 31,883 shares of the aircraft producer’s stock after acquiring an additional 13,372 shares during the quarter. Merit Financial Group LLC’s holdings in Boeing were worth $6,680,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of BA. Kingstone Capital Partners Texas LLC acquired a new position in Boeing during the second quarter worth approximately $378,459,000. Vanguard Group Inc. increased its position in Boeing by 1.9% during the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock worth $11,197,468,000 after buying an additional 1,212,327 shares during the last quarter. Strs Ohio acquired a new position in Boeing during the first quarter worth approximately $98,984,000. Canada Pension Plan Investment Board increased its position in Boeing by 243.8% during the first quarter. Canada Pension Plan Investment Board now owns 754,550 shares of the aircraft producer’s stock worth $128,689,000 after buying an additional 535,060 shares during the last quarter. Finally, Deutsche Bank AG grew its position in shares of Boeing by 38.4% in the first quarter. Deutsche Bank AG now owns 1,805,186 shares of the aircraft producer’s stock valued at $307,874,000 after purchasing an additional 501,161 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Price Performance

Shares of NYSE:BA opened at $216.32 on Monday. The company has a market capitalization of $163.57 billion, a P/E ratio of -13.10 and a beta of 1.47. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The business’s 50 day simple moving average is $225.06 and its 200 day simple moving average is $205.21.

Boeing (NYSE:BA) last issued its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.32). The company had revenue of $22.75 billion during the quarter, compared to analyst estimates of $20.13 billion. Boeing’s quarterly revenue was up 34.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($2.90) earnings per share. On average, sell-side analysts anticipate that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Buying and Selling at Boeing

In other Boeing news, Director Mortimer J. Buckley bought 2,200 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was purchased at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the purchase, the director directly owned 2,200 shares of the company’s stock, valued at approximately $497,420. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, 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 value of $867,103.74. Following the sale, the executive vice president owned 35,873 shares of the company’s stock, valued at $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BA. Sanford C. Bernstein upped their target price on Boeing from $249.00 to $282.00 and gave the company an “outperform” rating in a research report on Thursday. Redburn Atlantic raised 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 report on Friday, June 27th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Boeing in a research report on Monday, July 28th. Vertical Research raised Boeing from a “hold” rating to a “buy” rating and upped their target price for the company from $242.00 to $270.00 in a research report on Monday, September 8th. Finally, Barclays upped their target price on Boeing from $210.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $233.91.

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.