Bank of New York Mellon Takes Billion-Dollar Position in Boeing

Bank of New York Mellon Corp has taken a significant position in The Boeing Company (NYSE:BA) by purchasing 3,454,348 shares worth approximately $747.76 million.

This new stake makes Bank of New York Mellon Corp the largest shareholder of Boeing, owning about 0.44% of the company's stock at the end of the most recent quarter.

The purchase price values each share at around $215.22, according to Friday's opening market price.