Mengis Capital Management Inc. Sells 475 Shares of The Boeing Company (NYSE:BA)

Mengis Capital Management Inc. trimmed its position in shares of The Boeing Company (NYSE:BA) by 3.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,544 shares of the aircraft producer’s stock after selling 475 shares during the period. Mengis Capital Management Inc.’s holdings in Boeing were worth $1,907,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BA. Madison Park Capital Advisors LLC grew its position in shares of Boeing by 4.9% in the 2nd quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock worth $219,000 after buying an additional 56 shares during the last quarter. Wealth Alliance Advisory Group LLC increased its position in Boeing by 1.6% during the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock valued at $691,000 after purchasing an additional 60 shares during the period. Angeles Wealth Management LLC raised its holdings in Boeing by 4.2% in the 1st quarter. Angeles Wealth Management LLC now owns 1,524 shares of the aircraft producer’s stock worth $294,000 after purchasing an additional 61 shares in the last quarter. IMS Capital Management lifted its position in shares of Boeing by 0.4% in the 2nd quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock worth $2,759,000 after purchasing an additional 62 shares during the period. Finally, ADE LLC boosted its stake in shares of Boeing by 4.4% during the 2nd quarter. ADE LLC now owns 1,539 shares of the aircraft producer’s stock valued at $280,000 after purchasing an additional 65 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Stock Down 2.5 %

NYSE BA opened at $145.17 on Wednesday. The Boeing Company has a 52 week low of $143.85 and a 52 week high of $267.54. The company has a market capitalization of $89.74 billion, a P/E ratio of -11.25 and a beta of 1.57. The stock’s 50-day moving average price is $154.49 and its 200-day moving average price is $170.11.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. Boeing’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($3.26) earnings per share. Research analysts anticipate that The Boeing Company will post -16.09 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BA. Benchmark restated a “buy” rating and issued a $250.00 price objective on shares of Boeing in a report on Thursday, October 24th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research report on Wednesday, October 30th. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a research note on Tuesday, October 15th. Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $195.00 to $169.00 in a report on Wednesday, October 30th. Finally, Wells Fargo & Company lowered their price target on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $190.37.

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.