M&T Bank Corp Sells 11,290 Shares of The Boeing Company (NYSE:BA)

M&T Bank Corp lowered its position in The Boeing Company (NYSE:BA) by 13.7% during the 3rd quarter, Holdings Channel reports. The fund owned 71,222 shares of the aircraft producer’s stock after selling 11,290 shares during the period. M&T Bank Corp’s holdings in Boeing were worth $10,829,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BA. Rockefeller Capital Management L.P. raised its holdings in shares of Boeing by 8.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock worth $72,075,000 after acquiring an additional 38,300 shares during the last quarter. Jennison Associates LLC increased its holdings in Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after purchasing an additional 602,143 shares in the last quarter. ING Groep NV purchased a new stake in shares of Boeing in the third quarter worth approximately $11,679,000. Lazari Capital Management Inc. lifted its holdings in shares of Boeing by 55.7% in the second quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock valued at $4,226,000 after purchasing an additional 8,309 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Boeing during the third quarter valued at approximately $636,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on BA shares. DZ Bank lowered Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Morgan Stanley decreased their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Benchmark restated a “buy” rating and issued a $250.00 target price on shares of Boeing in a research note on Thursday, October 24th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Boeing in a research report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $190.11.

Boeing Stock Up 0.2 %

Shares of NYSE:BA opened at $177.35 on Monday. The company has a 50-day moving average price of $155.10 and a two-hundred day moving average price of $165.90. The Boeing Company has a twelve month low of $137.03 and a twelve month high of $267.54. The firm has a market capitalization of $109.64 billion, a PE ratio of -13.75 and a beta of 1.56.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same period last year, the company earned ($3.26) EPS. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. Analysts anticipate that The Boeing Company will post -16.18 earnings per share 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.