Boeing Co (NYSE:BA) Holdings Decreased by M&T Bank Corp

M&T Bank Corp reduced its stake in shares of Boeing Co (NYSE:BA) by 21.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 103,036 shares of the aircraft producer’s stock after selling 28,629 shares during the quarter. M&T Bank Corp’s holdings in Boeing were worth $18,885,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Capital World Investors raised its stake in shares of Boeing by 15.1% during the first quarter. Capital World Investors now owns 30,555,090 shares of the aircraft producer’s stock valued at $4,556,991,000 after purchasing an additional 3,997,531 shares in the last quarter. Capital International Investors raised its stake in shares of Boeing by 7.7% during the first quarter. Capital International Investors now owns 10,734,838 shares of the aircraft producer’s stock valued at $1,600,997,000 after purchasing an additional 769,205 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Boeing by 0.4% during the first quarter. Geode Capital Management LLC now owns 7,206,451 shares of the aircraft producer’s stock valued at $1,072,353,000 after purchasing an additional 27,011 shares in the last quarter. Public Investment Fund bought a new stake in shares of Boeing during the first quarter valued at about $713,677,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Boeing by 2.8% during the first quarter. Bank of New York Mellon Corp now owns 4,111,633 shares of the aircraft producer’s stock valued at $613,210,000 after purchasing an additional 111,698 shares in the last quarter. Institutional investors and hedge funds own 61.66% of the company’s stock.

NYSE:BA opened at $158.00 on Friday. Boeing Co has a fifty-two week low of $89.00 and a fifty-two week high of $391.00. The stock’s 50-day moving average is $180.12 and its two-hundred day moving average is $204.01. The stock has a market cap of $89.18 billion, a PE ratio of -31.29 and a beta of 1.47.

Boeing (NYSE:BA) last released its earnings results on Wednesday, July 29th. The aircraft producer reported ($4.79) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.93) by ($1.86). Boeing had a negative net margin of 4.27% and a negative return on equity of 3.08%. The business had revenue of $11.81 billion for the quarter, compared to analysts’ expectations of $12.95 billion. During the same period last year, the firm earned ($5.82) EPS. The company’s revenue was down 25.0% compared to the same quarter last year. Sell-side analysts forecast that Boeing Co will post -6.26 EPS for the current year.

Several equities research analysts have commented on the stock. TheStreet cut shares of Boeing from a “c-” rating to a “d” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $158.00 price target (up from $130.00) on shares of Boeing in a research report on Friday, May 1st. ValuEngine cut shares of Boeing from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 1st. Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and set a $165.00 price target on the stock. in a research report on Friday, June 26th. Finally, Goldman Sachs Group reiterated a “buy” rating and issued a $225.00 price target on shares of Boeing in a research report on Thursday. Six equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $217.38.

Boeing Company Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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