Meeder Asset Management Inc. Increases Stake in The Boeing Company (NYSE:BA)

Meeder Asset Management Inc. grew its stake in shares of The Boeing Company (NYSE:BA) by 325.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 302 shares of the aircraft producer’s stock after buying an additional 231 shares during the period. Meeder Asset Management Inc.’s holdings in Boeing were worth $55,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC bought a new stake in Boeing in the 4th quarter worth approximately $26,000. Vima LLC bought a new stake in Boeing in the fourth quarter worth $34,000. Accent Capital Management LLC purchased a new stake in Boeing during the fourth quarter valued at $39,000. Frank Rimerman Advisors LLC bought a new position in Boeing during the fourth quarter valued at $48,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Boeing in the 2nd quarter worth $34,000. Institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

BA has been the topic of several recent research reports. UBS Group decreased their target price on shares of Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, June 7th. Susquehanna reiterated a “positive” rating and issued a $230.00 target price on shares of Boeing in a report on Wednesday, August 14th. Wells Fargo & Company restated an “underweight” rating and set a $119.00 price target (down previously from $185.00) on shares of Boeing in a report on Tuesday, September 3rd. Bank of America lifted their price objective on shares of Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, June 13th. Finally, Stifel Nicolaus raised their target price on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

Boeing Price Performance

NYSE:BA opened at $156.77 on Friday. The firm has a market cap of $96.60 billion, a PE ratio of -44.16 and a beta of 1.57. The company has a 50-day moving average of $174.10 and a 200 day moving average of $179.23. The Boeing Company has a 1-year low of $155.60 and a 1-year high of $267.54.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. The business’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.82) EPS. Sell-side analysts anticipate that The Boeing Company will post -4.26 EPS 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.