M&T Bank Corp Buys 17,842 Shares of The Boeing Company $BA

M&T Bank Corp grew its stake in shares of The Boeing Company (NYSE:BA) by 26.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,137 shares of the aircraft producer’s stock after acquiring an additional 17,842 shares during the period. M&T Bank Corp’s holdings in Boeing were worth $17,630,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in BA. Revolve Wealth Partners LLC bought a new stake in shares of Boeing in the fourth quarter valued at about $201,000. Scotia Capital Inc. increased its holdings in shares of Boeing by 11.4% during the first quarter. Scotia Capital Inc. now owns 24,919 shares of the aircraft producer’s stock worth $4,250,000 after purchasing an additional 2,557 shares during the period. Raiffeisen Bank International AG acquired a new stake in shares of Boeing in the first quarter valued at approximately $94,000. IPG Investment Advisors LLC boosted its stake in shares of Boeing by 10.3% in the first quarter. IPG Investment Advisors LLC now owns 1,390 shares of the aircraft producer’s stock valued at $237,000 after buying an additional 130 shares during the period. Finally, Plan Group Financial LLC bought a new position in Boeing during the 1st quarter worth $251,000. Institutional investors own 64.82% of the company’s stock.

Insiders Place Their Bets

In other Boeing news, SVP Dana S. Deasy acquired 554 shares of Boeing stock in a transaction that occurred on Monday, November 24th. The shares were bought at an average price of $178.88 per share, with a total value of $99,099.52. Following the completion of the purchase, the senior vice president directly owned 28,442 shares in the company, valued at $5,087,704.96. This trade represents a 1.99% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Uma M. Amuluru sold 1,366 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $197.66, for a total value of $270,003.56. Following the transaction, the executive vice president directly owned 14,656 shares of the company’s stock, valued at approximately $2,896,904.96. This represents a 8.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.09% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on BA shares. Zacks Research downgraded Boeing from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 29th. JPMorgan Chase & Co. decreased their target price on shares of Boeing from $251.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Loop Capital set a $223.00 price target on shares of Boeing in a report on Monday, November 3rd. Sanford C. Bernstein reissued an “outperform” rating and issued a $267.00 price objective on shares of Boeing in a research note on Friday, November 14th. 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, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, Boeing currently has an average rating of “Moderate Buy” and a consensus price target of $232.09.

Boeing Trading Up 10.2%

Shares of BA stock opened at $205.42 on Wednesday. The firm has a market capitalization of $156.14 billion, a price-to-earnings ratio of -15.02 and a beta of 1.18. The business’s 50-day moving average price is $205.12 and its 200-day moving average price is $214.28. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) EPS for the quarter, missing the consensus estimate of ($0.51) by ($6.96). The company had revenue of $23.27 billion for the quarter, compared to analyst estimates of $21.61 billion. During the same quarter in the previous year, the company posted ($10.44) EPS. Boeing’s revenue for the quarter was up 30.4% compared to the same quarter last year. On average, sell-side analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal 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.