Meiji Yasuda Asset Management Co Ltd. Has $1.90 Million Position in The Boeing Company (NYSE:BA)

Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of The Boeing Company (NYSE:BA) by 8.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 10,449 shares of the aircraft producer’s stock after purchasing an additional 841 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Boeing were worth $1,902,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sanders Morris Harris LLC lifted its stake in Boeing by 869.1% in the 1st quarter. Sanders Morris Harris LLC now owns 22,775 shares of the aircraft producer’s stock worth $4,395,000 after purchasing an additional 20,425 shares in the last quarter. Park Avenue Securities LLC boosted its stake in shares of Boeing by 20.7% during the 1st quarter. Park Avenue Securities LLC now owns 10,543 shares of the aircraft producer’s stock valued at $2,035,000 after purchasing an additional 1,805 shares in the last quarter. Williams Financial LLC purchased a new position in shares of Boeing during the 2nd quarter worth approximately $1,637,000. Granite Bay Wealth Management LLC bought a new position in Boeing in the second quarter worth $561,000. Finally, Envestnet Portfolio Solutions Inc. increased its stake in shares of Boeing by 115.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 14,637 shares of the aircraft producer’s stock worth $2,825,000 after acquiring an additional 7,848 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on BA. Stifel Nicolaus raised their price target on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company restated an “underweight” rating and issued a $119.00 price objective (down from $185.00) on shares of Boeing in a research report on Tuesday, September 3rd. UBS Group cut their target price on Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, June 7th. Sanford C. Bernstein lowered their price target on Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Finally, Baird R W raised shares of Boeing to a “strong-buy” rating in a report on Monday, June 3rd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Boeing has an average rating of “Moderate Buy” and a consensus target price of $211.29.

Boeing Price Performance

Shares of NYSE:BA opened at $154.55 on Friday. The firm has a market capitalization of $94.88 billion, a PE ratio of -43.54 and a beta of 1.57. The business has a 50 day simple moving average of $171.80 and a two-hundred day simple moving average of $178.07. The Boeing Company has a 1 year low of $154.02 and a 1 year high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The business had revenue of $16.87 billion during the quarter, compared to the consensus estimate of $17.35 billion. During the same quarter in the previous year, the business earned ($0.82) earnings per share. The firm’s revenue was down 14.6% compared to the same quarter last year. Equities research analysts expect that The Boeing Company will post -4.26 EPS for the current fiscal year.

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.