Brightworth acquired a new position in Boeing Co (NYSE:BA) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 25,228 shares of the aircraft producer’s stock, valued at approximately $6,413,000. Boeing comprises approximately 1.6% of Brightworth’s investment portfolio, making the stock its 9th largest holding.
Several other institutional investors and hedge funds have also recently made changes to their positions in BA. Evermay Wealth Management LLC acquired a new stake in Boeing in the first quarter valued at approximately $207,000. Hartree Partners LP acquired a new stake in Boeing in the first quarter valued at approximately $208,000. Meiji Yasuda Life Insurance Co lifted its stake in Boeing by 0.5% in the first quarter. Meiji Yasuda Life Insurance Co now owns 18,354 shares of the aircraft producer’s stock valued at $3,246,000 after acquiring an additional 100 shares during the last quarter. Tredje AP fonden lifted its stake in Boeing by 11.2% in the first quarter. Tredje AP fonden now owns 57,366 shares of the aircraft producer’s stock valued at $10,146,000 after acquiring an additional 5,760 shares during the last quarter. Finally, Argent Capital Management LLC acquired a new stake in Boeing in the first quarter valued at approximately $12,978,000. Institutional investors own 70.84% of the company’s stock.
A number of equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, September 19th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $303.00 target price (up previously from $274.00) on shares of Boeing in a research report on Wednesday, September 20th. They noted that the move was a valuation call. Vetr lowered shares of Boeing from a “hold” rating to a “sell” rating and set a $272.77 target price on the stock. in a research report on Thursday, December 28th. JPMorgan Chase & Co. boosted their target price on shares of Boeing from $325.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, ValuEngine lowered shares of Boeing from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $277.79.
Shares of Boeing Co (BA) traded up $3.81 during trading hours on Thursday, hitting $324.07. 1,364,298 shares of the stock traded hands, compared to its average volume of 3,750,000. The firm has a market cap of $192,820.00, a P/E ratio of 29.81, a PEG ratio of 2.16 and a beta of 1.23. The company has a debt-to-equity ratio of 8.54, a current ratio of 1.18 and a quick ratio of 0.39. Boeing Co has a 52 week low of $156.67 and a 52 week high of $325.50.
Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.65 by $0.07. The business had revenue of $24.31 billion for the quarter, compared to the consensus estimate of $24.09 billion. Boeing had a net margin of 7.33% and a return on equity of 12,064.25%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.51 EPS. equities research analysts predict that Boeing Co will post 10.14 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be given a dividend of $1.71 per share. This is an increase from Boeing’s previous quarterly dividend of $1.42. The ex-dividend date is Thursday, February 8th. This represents a $6.84 annualized dividend and a yield of 2.11%. Boeing’s dividend payout ratio is 52.25%.
Boeing announced that its Board of Directors has authorized a stock buyback program on Monday, December 11th that permits the company to buyback $18.00 billion in shares. This buyback authorization permits the aircraft producer to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
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Boeing Company Profile
The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.
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