Meridian Wealth Management LLC raised its stake in Boeing Company (The) (NYSE:BA) by 7.7% during the first quarter, Holdings Channel reports. The institutional investor owned 28,802 shares of the aircraft producer’s stock after buying an additional 2,057 shares during the period. Boeing Company (The) makes up approximately 2.9% of Meridian Wealth Management LLC’s holdings, making the stock its 8th largest position. Meridian Wealth Management LLC’s holdings in Boeing Company (The) were worth $5,094,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. MCF Advisors LLC boosted its stake in shares of Boeing Company (The) by 9.5% in the first quarter. MCF Advisors LLC now owns 712 shares of the aircraft producer’s stock valued at $126,000 after buying an additional 62 shares during the period. SRS Capital Advisors Inc. boosted its stake in shares of Boeing Company (The) by 16.9% in the first quarter. SRS Capital Advisors Inc. now owns 742 shares of the aircraft producer’s stock valued at $131,000 after buying an additional 107 shares during the period. Gemmer Asset Management LLC boosted its stake in shares of Boeing Company (The) by 50.6% in the first quarter. Gemmer Asset Management LLC now owns 899 shares of the aircraft producer’s stock valued at $159,000 after buying an additional 302 shares during the period. Pinnacle Bank purchased a new stake in shares of Boeing Company (The) during the first quarter valued at $160,000. Finally, Taylor Wealth Management Partners boosted its stake in shares of Boeing Company (The) by 61.6% in the first quarter. Taylor Wealth Management Partners now owns 918 shares of the aircraft producer’s stock valued at $162,000 after buying an additional 350 shares during the period. 74.44% of the stock is currently owned by institutional investors and hedge funds.

Boeing Company (NYSE BA) traded up 0.551% on Monday, hitting $236.175. The stock had a trading volume of 699,192 shares. The company has a market cap of $139.60 billion, a PE ratio of 20.692 and a beta of 1.16. Boeing Company has a one year low of $126.31 and a one year high of $246.49. The stock has a 50-day moving average of $217.15 and a 200-day moving average of $189.10.

Boeing Company (The) (NYSE:BA) last announced its earnings results on Wednesday, July 26th. The aircraft producer reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.23. Boeing Company (The) had a return on equity of 2,185.10% and a net margin of 7.84%. The firm had revenue of $22.74 billion during the quarter, compared to the consensus estimate of $22.97 billion. During the same quarter in the prior year, the company earned ($0.44) EPS. The firm’s revenue for the quarter was down 8.1% compared to the same quarter last year. Equities analysts expect that Boeing Company will post $9.95 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be paid a dividend of $1.42 per share. The ex-dividend date is Wednesday, August 9th. This represents a $5.68 annualized dividend and a yield of 2.42%. Boeing Company (The)’s payout ratio is 49.74%.

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Several analysts recently weighed in on the stock. Argus reaffirmed a “buy” rating and issued a $270.00 target price on shares of Boeing Company (The) in a report on Tuesday, August 1st. Canaccord Genuity reaffirmed a “hold” rating and issued a $215.00 target price (up previously from $200.00) on shares of Boeing Company (The) in a report on Sunday, July 30th. Vetr raised shares of Boeing Company (The) from a “sell” rating to a “buy” rating and set a $253.33 target price on the stock in a report on Monday, July 31st. J P Morgan Chase & Co raised their target price on shares of Boeing Company (The) from $20.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, July 31st. Finally, Vertical Research reaffirmed a “hold” rating and issued a $242.00 target price (up previously from $187.00) on shares of Boeing Company (The) in a report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $228.31.

In other Boeing Company (The) news, SVP Heidi B. Capozzi sold 4,217 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $241.51, for a total value of $1,018,447.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Gregory D. Smith sold 19,757 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $245.42, for a total value of $4,848,762.94. Following the completion of the sale, the chief financial officer now owns 152,195 shares of the company’s stock, valued at approximately $37,351,696.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,468 shares of company stock valued at $20,353,814. 0.28% of the stock is owned by corporate insiders.

About Boeing Company (The)

The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.

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Institutional Ownership by Quarter for Boeing Company (The) (NYSE:BA)

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